The “good old days” were much harder.
In 1865 the average British worker
worked 124,000 hours over their life (like the US & Japan). In 1980, only 69,000 hours, despite living longer. Since then, it dropped slower, by 6%.
We went from spending 50% of our lives working to 20%!
Historic analysis of previous episodes of $500 billion drawdowns in 12 weeks includes in August, September 2020 as well as February and May 2022 — Citi Research via Bloomberg
Nvidia is about to become the 1st trillion-dollar chipmaker, after surging $200B in valuation in a single day.
But when cofounders Jensen, Chris, & Curtis started the company in 1993, they had only $40K in the bank.
Here’s Nvidia’s founding story, from 0 to Taxman of AI.
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Republicans are poised to deliver big, consequential change in Washington. Soon, we will vote for a responsible debt limit agreement that stops Democrats' reckless spending, claws back unspent COVID funds, blocks Biden's new tax schemes, & much, much more https://t.co/TQ7CblFsaM
Interesting nugget from the Fed minutes. Tighter credit conditions could be putting upward pressure on inflation, by constraining supply. https://t.co/Rm5DFHgHHv
There is a persistent myth of "the happy poor". It's just that: a myth.
While happiness and life satisfaction are of course driven by many other things as well, people in poor countries are on average much more unhappy. Economic growth matters.
https://t.co/UrypZvRS1Y