Amazing Facts About the Economy

I’m borrowing this idea from Morgan Housel who would periodically list fascinating facts about the economy.

Largest oil deposit ever found in U.S. discovered in Texas

Divorce in U.S. Plunges to 35-Year Low

Over the last two centuries, the number of people living in extreme poverty has fallen from 94% to under 10%.

Adjusted for inflation, airline tickets have fallen in half from 30 years ago.

Over the last 40 years, 86% of the increase in government jobs have gone to women.

In 1998, Kodak had 170,000 employees and sold 85% of all photo paper worldwide. Within just a few years, its business model disappeared and it went bankrupt.

The average American woman now weighs as much as the average American man did in the 1960s.

Every major cable TV company lost subscribers last quarter.

Since 1932, most of the S&P 500’s capital gain has come during a seven-day period at the turn of each month—specifically, the last four trading days and the first three trading days of each month. This represents about one-third of the total trading days. During the rest of the month, the stock market actually lost money.

Over the last 20 years, the Dow gained 253.49% on Monday and Tuesday combined. But it lost 3.67% on Wednesday, Thursday and Friday.

In 2000, Goldman Sachs had 600 traders in New York City making markets in US stocks. Today, that number is down to fewer than 10.

In 2010, China naturalized 1,448 people. In America, the figure is about 700,000.

A 34-year-old junk bond trader made $100 million this year.

In Japan, you can rent a man to listen to you; 70% of the clients are women.

36% of online shoppers won’t buy something unless it has free shipping.

In 1967, World Airways applied to fly cross-country routes for $75. At the time, the Civil Aeronautics Board had to approve all prices and routes. Five years later, the CAB declined the request saying the application was stale.

In 1940, Ida May Fuller got the first social security check. The check number was 00-000-001. She lived to 100 and collected $22,888 in benefits.

Over the last 25 years, clothing prices have gone down.

China has 105 cities with over 1 million people in the metropolitan area.

According to Morningstar, 47% of mutual fund mangers do not personally own any of their own fund.

Germany paid off the last of their World War I reparations in 2010.

Every year, the United States sends Cuba a check for $4,085 as part of its lease of Guantanamo Bay. Every year, Cuba refuses to cash it.

On August 5, 2009 a record 347 million shares Citigroup were traded. That’s about 15,000 shares per second for the entire 6.5-hour session.

According to the Bank for International Settlements, as of April 2016, average daily turnover in global foreign exchange markets is estimated at $5.09 trillion.

Norway’s sovereign wealth fund is worth $874 billion. That’s about $170,000 per person.

North Dakota has a state-owned bank. “It is more profitable than Goldman Sachs Group Inc., has a better credit rating than J.P. Morgan Chase & Co. and hasn’t seen profit growth drop since 2003.”

From June 6, 1983 to April 17, 2003, Apple’s stock fell 16%. That’s nearly 20 years.

The Dow Jones didn’t break its high from September 3, 1929 until November 23, 1954.

Between September 20, 1929 and October 9, 2002, the Dow Utility average grew by 16% ex dividends.

In the United States there are, on average, 1,700 new millionaires every day.

Posted by on November 21st, 2016 at 8:07 am

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