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6 votes
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How money and banking work (and why they're broken today)
3 votes -
Opinion: Japan is haunted by a return to emerging-economy status
14 votes -
GDP per capita vs. the federal poverty rate over the years (observation and discussion)
Fair warning, I'm a dummy trying to talk about stuff I don't fully understand, but I wanted to see others' thoughts on this. In the 1960s, America's GDP (per capita) was $3,000. Also, in 1960, the...
Fair warning, I'm a dummy trying to talk about stuff I don't fully understand, but I wanted to see others' thoughts on this.
In the 1960s, America's GDP (per capita) was $3,000.
Also, in 1960, the federal poverty limit was $3,000 for a family of four.In 2023, the GDP (per capita) was $82,034.
The federal poverty limit for a family of four in 2023 was $30,000.This can't be good for the American people. Unless I'm drawing comparisons between two completely unrelated things?
People who are barely in poverty today would have to earn ~2.7x the amount they earn to stay consistent with those who were barely in poverty in the 1960s if GDP and FPL were still equal to each other. So what about the families caught in the middle? Too high earnings to get help and too low to thrive? They just suffer, I guess.
Out of curiosity, I calculated what the thresholds would be if the percentages of GDP to FPL were swapped between 2023 and 1960.
1960s numbers adjusted if FPL matched 2023's percentage:
GDP=$3,000
FPL=$1,1111960s numbers adjusted if GDP matched the percentage comparison of 2023:
GDP=$8,100
FPL=$3,000Please let me know if it actually matters that the GDP per capita is 2.7x the federal poverty limit for a family of four. Also, let me know your thoughts.
8 votes -
Inflation in times of overlapping emergencies: Systemically significant prices from an input–output perspective
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Bank of Canada says the country faces a productivity 'emergency'
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Finland's proposed labour reforms risk doing more harm than good
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4 votes -
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Russia is burning up its future
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Egyptians are buying and selling gold just to stay afloat
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29 votes -
Half of recent US inflation due to high corporate profits, report finds
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35 votes -
A theory of grift
8 votes -
Why does Germany continue to self-destruct?
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Something is golden in the state of Denmark – can Novo Nordisk's success really be a problem for the Danish economy?
8 votes -
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22 votes -
Costco capitalism
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24 votes -
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14 votes -
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The GDP gap between Europe and the United States is now 80%
37 votes -
Diamond prices are in free fall in one key corner of the market
31 votes -
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20 votes -
Novo Nordisk, the Danish company behind two popular obesity medications, is reaping huge profits and is now responsible for most of the country's economic growth
6 votes -
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41 votes -
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17 votes -
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46 votes -
America's obsession with weight-loss drugs is affecting the economy of Denmark – Novo Nordisk's market capitalization has matched the GDP of its home country
17 votes -
China's property crisis deepens with developer Country Garden at risk of default
13 votes -
Analysis - Financial Times article - Lex in depth: how investors are underpricing climate risks
10 votes -
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Fitch downgrades US credit rating from AAA to AA+
65 votes -
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19 votes -
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10 votes -
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45 votes -
Every generator is a policy failure
21 votes -
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83 votes -
US GDP grew at a 2.4% pace in the second quarter, topping expectations despite recession calls
31 votes -
US auto loan rejections hit record high as consumer credit standards tighten
29 votes -
If futures contracts/exchanges were outlawed, would anything of value be lost in the global economy?
Like other derivatives, futures seem like they are basically gambling for the wealthy more than real investment. What am I missing?
22 votes -
Pay raises in the US are finally beating inflation after two years of falling behind
13 votes