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100 Facts About the Economy

By freak80   Follow   Tue, 17 Jul 2012, 2:13pm   492 views   3 comments
In Corning NY 14830   Watch (0)   Share   Quote   Permalink   Like   Dislike  

I've got to say, Fact #14 is the most telling.

http://www.fool.com/investing/general/2012/07/17/100-mind-blowing-facts-about-the-economy-.aspx?source=ihpsitota0000001&lidx=2

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1. Patrick Follow Befriend (54) 5,181 threads 6,152 comments 46 male Menlo Park, CA Premium

   1   2:15pm Tue 17 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   14. At the height of his success, Andrew Carnegie's annual income was 20,000 times the average American's wage, according to historian Frederick Lewis Allen. That's the equivalent of about $720 million in today's economy. In 2010, hedge fund manager John Paulson earned $4.9 billion, or nearly seven times what Carnegie earned in his prime. The key difference: Carnegie made steel to construct buildings. Paulson bought derivatives to bet against them.

2. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

   2   2:21pm Tue 17 Jul 2012   Share   Quote   Permalink   Like   Dislike   Then again, John Paulson didn't hire Pinkerton thugs to beat up his employees...

3. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

   3   2:55pm Tue 17 Jul 2012   Share   Quote   Permalink   Like   Dislike   Another amazing fact: 58. Five years ago, coal provided about half the nation's electricity. Today, it's about one-third. Natural gas' share during that time rose from 21% to 30%, according to the Energy Information Agency. Remember 5 years ago when we were worried about running out of natural gas in North America?