Obama's economic recovery is going great guns! LOL
Oct 26, 2015 16:58:44 #
I received this in today's mail from a mortgage consultant I know. Thought you may enjoy the read:
1. AT THE TOP - The top one-tenth of 1% of American households (i.e., top 1 out of 1,000) control 22% of the wealth in the country, up from 7% in 1979 (source: Bank of America Merrill Lynch survey).
2. BOOMERANG GENERATION - 15% of young adults aged 25-34 had moved back home and were living with their parents in 2014. Just 10% of children in this age bracket were living with their parents 30 years earlier in 1984 (source: Census Bureau).
3. TAXES - 54.7% of the American taxpayers (51.2 million out of 93.6 million returns) that reported adjusted gross income less than $50,000 during tax year 2013 legally did not pay any federal income tax (source: Internal Revenue Service).
4. MORE TAXES - 0.2% of the American taxpayers (659 out of 345,884 returns) that reported adjusted gross income of at least $1 million during tax year 2013 legally did not pay any federal income tax (source: Internal Revenue Service).
5. EVERYONE DOES IT - The US debt ceiling has been frozen at $18.152 trillion since 3/15/15. The debt ceiling has been raised or suspended 81 times since 1961 (an average of once every 8 months), 33 times under Democratic presidents and 48 times under Republican presidents. The debt ceiling was raised 18 times during the 8-year Reagan administration, more than any other president since 1961 (source: Peterson Foundation).
6. CUT IN HALF - American spending on "National Defense" (stated as a percentage of the size of the economy) has fallen from 7.2% in fiscal year 1965 to 3.3% in fiscal year 2015 (source: Treasury Department).
7. NIFTY NOVEMBER - November has been the 3rd best performing month for the S&P 500 since 1990. Over the last 25 years (1990-2014), the S&P 500 has gained an average total return of +1.6% during November. Over the entire period, 18 of 25 Novembers have been up. The S&P 500 consists of 500 stocks chosen for market size, liquidity and industry group representation. It is a market value weighted index with each stock's weight in the index proportionate to its market value (source: BTN Research)
8. OCTOBER ROCKS - With 5 trading days remaining in the month of October, the S&P 500 has gained +8.2% (total return) so far this month. That performance would rank as the # 3 October result in the last 26 years, i.e., 1990-2015, trailing only Octobers in 2002 and 2011 (source: BTN Research).
9. THANK YOU MOM AND DAD - Heirs of decedents are projected to inherit $36 trillion (net amount after the payment of estate taxes) through the year 2061 (source: Boston College Center on Wealth and Philanthropy).
10. FIVE IN FIFTY-FIVE - The budget deficit in fiscal year 2015 (i.e., the 12 months ending 9/30/15) was $439 billion. The USA has run a budget deficit in 50 of the last 55 fiscal years, i.e., 1961-2015. The only surplus years were 1969, 1998, 1999, 2000 and 2001 (source: Treasury Department).
11. BEHAVING DIFFERENTLY - For every $1 increase in the value of a private residence during the 2002-06 housing boom, households with credit scores no more than 600 borrowed and spent 40 cents. For every $1 increase in the value of a private residence during the 2002-06 housing boom, households with credit scores of 900 borrowed and spent 16 cents (source: Chicago Booth School of Business).
12. BIG DEAL - The T***s-Pacific Partnership (TPP) trade deal was signed by 12 countries on 10/05/15 but still has to be approved by legislatures from all the countries involved. The dozen countries, including the USA, Canada and Japan (but not China), account for 40% of the global economy. 6 additional countries (including South Korea) have expressed interest in joining the TPP (source: TPP).
13. PAPERWORK - Medical providers use a coding system to bill insurance companies for diagnoses and procedures. A new system called ICD-10 (i.e., International Classification of Diseases-10) went into effect on 10/01/15 with 140,000 different codes listed in a 1,390 page book. The previous system (called ICD-9) had just 18,000 codes. ICD-11 will be released in 2018 (source: US Centers of Disease Control and Prevention).
14. OUT OF BUSINESS - 90% of startup businesses launched in the USA fail, primarily due to self-destruction and not due to competitive pressures (source: Startup Genome Project).
1. AT THE TOP - The top one-tenth of 1% of American households (i.e., top 1 out of 1,000) control 22% of the wealth in the country, up from 7% in 1979 (source: Bank of America Merrill Lynch survey).
2. BOOMERANG GENERATION - 15% of young adults aged 25-34 had moved back home and were living with their parents in 2014. Just 10% of children in this age bracket were living with their parents 30 years earlier in 1984 (source: Census Bureau).
3. TAXES - 54.7% of the American taxpayers (51.2 million out of 93.6 million returns) that reported adjusted gross income less than $50,000 during tax year 2013 legally did not pay any federal income tax (source: Internal Revenue Service).
4. MORE TAXES - 0.2% of the American taxpayers (659 out of 345,884 returns) that reported adjusted gross income of at least $1 million during tax year 2013 legally did not pay any federal income tax (source: Internal Revenue Service).
5. EVERYONE DOES IT - The US debt ceiling has been frozen at $18.152 trillion since 3/15/15. The debt ceiling has been raised or suspended 81 times since 1961 (an average of once every 8 months), 33 times under Democratic presidents and 48 times under Republican presidents. The debt ceiling was raised 18 times during the 8-year Reagan administration, more than any other president since 1961 (source: Peterson Foundation).
6. CUT IN HALF - American spending on "National Defense" (stated as a percentage of the size of the economy) has fallen from 7.2% in fiscal year 1965 to 3.3% in fiscal year 2015 (source: Treasury Department).
7. NIFTY NOVEMBER - November has been the 3rd best performing month for the S&P 500 since 1990. Over the last 25 years (1990-2014), the S&P 500 has gained an average total return of +1.6% during November. Over the entire period, 18 of 25 Novembers have been up. The S&P 500 consists of 500 stocks chosen for market size, liquidity and industry group representation. It is a market value weighted index with each stock's weight in the index proportionate to its market value (source: BTN Research)
8. OCTOBER ROCKS - With 5 trading days remaining in the month of October, the S&P 500 has gained +8.2% (total return) so far this month. That performance would rank as the # 3 October result in the last 26 years, i.e., 1990-2015, trailing only Octobers in 2002 and 2011 (source: BTN Research).
9. THANK YOU MOM AND DAD - Heirs of decedents are projected to inherit $36 trillion (net amount after the payment of estate taxes) through the year 2061 (source: Boston College Center on Wealth and Philanthropy).
10. FIVE IN FIFTY-FIVE - The budget deficit in fiscal year 2015 (i.e., the 12 months ending 9/30/15) was $439 billion. The USA has run a budget deficit in 50 of the last 55 fiscal years, i.e., 1961-2015. The only surplus years were 1969, 1998, 1999, 2000 and 2001 (source: Treasury Department).
11. BEHAVING DIFFERENTLY - For every $1 increase in the value of a private residence during the 2002-06 housing boom, households with credit scores no more than 600 borrowed and spent 40 cents. For every $1 increase in the value of a private residence during the 2002-06 housing boom, households with credit scores of 900 borrowed and spent 16 cents (source: Chicago Booth School of Business).
12. BIG DEAL - The T***s-Pacific Partnership (TPP) trade deal was signed by 12 countries on 10/05/15 but still has to be approved by legislatures from all the countries involved. The dozen countries, including the USA, Canada and Japan (but not China), account for 40% of the global economy. 6 additional countries (including South Korea) have expressed interest in joining the TPP (source: TPP).
13. PAPERWORK - Medical providers use a coding system to bill insurance companies for diagnoses and procedures. A new system called ICD-10 (i.e., International Classification of Diseases-10) went into effect on 10/01/15 with 140,000 different codes listed in a 1,390 page book. The previous system (called ICD-9) had just 18,000 codes. ICD-11 will be released in 2018 (source: US Centers of Disease Control and Prevention).
14. OUT OF BUSINESS - 90% of startup businesses launched in the USA fail, primarily due to self-destruction and not due to competitive pressures (source: Startup Genome Project).
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