A Quote by Alex Berenson
For a developing country, average long-run growth of 5 percent a year per capita is excellent, and 7 percent is stellar.
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If your credit is going to grow at 10-15 percent per year in order to get your 5 percent GDP growth per year, eventually you're going to have a problem. This isn't a stable system.
If US per capita income continues to grow at a rate of 1.5 percent a year, the country will have plenty of money to finance comfortable retirements and high-quality healthcare for all citizens, including those at the bottom of the wage ladder.
If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain.
The growth of the American food industry will always bump up against this troublesome biological fact: Try as we might, each of us can only eat about fifteen hundred pounds of food a year. Unlike many other products - CDs, say, or shoes - there's a natural limit to how much food we each can consume without exploding. What this means for the food industry is that its natural rate of growth is somewhere around 1 percent per year - 1 percent being the annual growth rate of American population. The problem is that [the industry] won't tolerate such an anemic rate of growth.
Education spurs growth and unlocks potential. After all, a single year of primary education creates a 10 to 20 percent increase in a woman's wages later in life. Education lowers the risk of disease and decreases the likelihood that a child will fall into violence and crime. And a child born to a literate mother is 50 percent more likely to survive past age five. No country has achieved sustained growth without at least 40 percent literacy for its adults.
For the three decades after WWII, incomes grew at about 3 percent a year for people up and down the income ladder, but since then most income growth has occurred among the top quintile. And among that group, most of the income growth has occurred among the top 5 percent. The pattern repeats itself all the way up. Most of the growth among the top 5 percent has been among the top 1 percent, and most of the growth among that group has been among the top one-tenth of one percent.
In 1994, Estonia became the first European country to adopt a flat tax, and its 26 percent flat tax dramatically energized what had been a faltering economy. Before adopting the flat tax, the Estonian economy was literally shrinking. In the eight years after 1994, Estonia experienced real economic growth - averaging 5.2 percent per year.
By 1979, Chinese people were poorer, on average, than North Koreans. I mean, your average per-capita income in China that year was one third of sub-Saharan Africa's.
I can't believe it. Maybe there is a God after all. Herbal supplement sales only grew 1 percent last year. The years before, it was 17 percent, 12 percent, 18 percent.
If we had 3 percent growth, which is what we're trying to get to, what we're at, by the way, right now, we're trying to maintain that 3 percent growth. If we had been at 3 percent growth over the last ten years, the budget very nearly would be balanced in 2017. That's how big a difference it makes when you grow the American economy that additional 1 percent over ten years.
The Hispanic population grew by 4.7 percent last year, while blacks expanded by 1.5 percent and whites by a paltry 0.3 percent. Hispanics cast 6 percent of the vote in 1990 and 12 percent in 2000. If their numbers expand at the current pace, they will be up to 18 percent in 2010 and 24 percent in 2020. With one-third of Hispanics voting Republican, they are the jump ball in American politics. As this vote goes, so goes the future.
This is ten percent luck, Twenty percent skill, Fifteen percent power of will, Five percent pleasure, Fifty percent pain, and a hundred percent reason to remember the name
Educating girls just one year beyond the average fourth grade education increases their eventual earnings by 10 to 20 percent. Every additional year of secondary education can increase future wages by 15 to 25 percent.
Right now there should be a moratorium on the cutting down of old growth in this country. That is a small thing to ask at this point. There is only four percent of old growth left. Ninety-six percent of it has been cut down.
A minuscule 4 percent of funds produce market-beating after-tax results with a scant 0.6 percent (annual) margin of gain. The 96 percent of funds that fail to meet or beat the Vanguard 500 Index Fund lose by a wealth-destroying margin of 4.8 percent per annum.
For any economy, there are two basic factors determining how many jobs are available at any given time. The first is the overall level of activity - with GDP as a rough, if inadequate measure of overall activity - and the second is what share of GDP goes to hiring people into jobs. In terms of our current situation, after the Great Recession hit in full in 2008, US GDP has grown at an anemic average rate of 1.3 percent per year, as opposed to the historic average rate from 1950 until 2007 of 3.3 percent.
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