I've seen this math posted before, and it is broadly wrong: the total return of the market is the growth in market capitalization plus net cashflows to investors (dividends minus net share issuance). You can have performance outpace gdp forever.
Another "hidden" area where the United States absolutely dominates the rest of the world, including Western Europe:
wastewater/sewage treatment
Waste water treatment infrastructure is pervasive in the United States. Even a low income area in rural Georgia has a state of the art waste water treatment facility. Western Europe has good coverage, but on a per capita basis, their treatment plants serve a larger population. This indicates they aren't as pervasive as they are in the US.
In contrast, China (even Japan) has sparse coverage despite its large dense population. India's coverage is even lower.
A lot of accounts on twitter incorrectly use examples of impressive skylines (ie Dubai, Shanghai, and now recently Mumbai/Gurgaon/Hyderabad) to show that their region is "developed". However, this is the real indicator of development.
Sewage treatment plants don't make for mediagenic ribbon cutting ceremonies. They don't win you votes. But the long term population health benefits are immense: lower rates of childhood diseases, longer healthief life spans, less stunting (and the associated cognitive and physical deficits associated with it).
So why are there not tens of thousands of billionaires from inherited wealth via these stock market gains?
In fact, there are almost none.
Victor Haghani and James White wrote a book explaining why … “The Missing Billionaires.”
https://t.co/Trl05RRNVn
I think Obama articulated this quite clearly, taxing the rich is not about raising revenues for the government. Even if revenues were to fall, it’s still worth taxing the rich because it helps fight inequality. You can show them all the facts and figures in the world but it won’t change their mind because they hate the people who have more than them. It’s the ugly impulse at the heart of everything they do.
This is probably the best estimate of religiosity during the Revolutionary period.
The most religious states:
New Jersey
Pennsylvania
Massachusetts
The least:
Vermont
North Carolina
Georgia
VIDEO: Vice president Vance in a message to to Israeli cabinet members:
“If I was in the cabinet of the Israeli government, I might not be attacking the only powerful ally that I have left
2/3 of the defensive weapons that have protected your homeland have been built by American hands and paid for by American tax dollars.
The problem for Israel is not Donald J. Trump, and anybody in Israel who thinks their biggest problem is the President of the United States needs to wake up and smell the reality of the situation that country is in”
Given how badly the US lost the Iran War, and how badly Hegseth et al. botched it, their über-masculine tough-guy act is going to look extraordinarily comical in the eyes of history.
Hitchens had the best review of Borat where he pointed out the whole movie was about how Americans were trying to accommodate a terrible foreigner and they’re not the ones who look bad https://t.co/ryT8AswcKp