Wednesday, October 14, 2015

Facts About The Economy

An economy or economic system comprises of the creation, issuing or trade, and depletion of limited goods and services by several agents in a given geographical location. The economic agents can be individuals, businesses, organizations, or governments. That being said, here are a few facts about the economy that are very interesting. I hope you enjoy.

10. If you divide their net worth by their age, Carlos Slim and Bill Gates have each collected more than one hundred thousand dollars in net worth for every hour they've ever been alive.

9. According to a study by Harvard professor David Wise and two associates, 46.1% of Americans die with less than ten thousand dollars in assets.

8. Adjusted for inflation, Warren Buffett was a millionaire by the age of 25. Check Out The Essays of Warren Buffett: Lessons for Corporate America at

7. If you have a dollar and can double it every single day, in 48 days you'll own every financial asset that exists on the planet, which is about two hundred trillion dollars.

6. Since 1928, the Dow Jones has climbed more than 10% in a single day eight times, declined more than 10% in a single day four times, and gone either up or down more than 5% in a single day 136 times.

Check Out The Great Escape: Health, Wealth, and the Origins of Inequality by Angus Deaton at

5. According to Forbes, if a Google employee is deceased, "their surviving spouse or domestic partner will receive a check for 50% of their salary every year for the next decade."

4. The U.K. economy is 3.3% smaller than it was in the year 2008. However, The U.S. economy is 2.9% bigger. They are both adjusted for inflation as well.

3. Apple's money and investments are now the same as the GDP of Hungary and greater than those of Vietnam and Iraq.

2. Thanks in part to cellphone cameras, "10% of all of the photographs made in the entire history of photography were made last year," according to Time.

1. From 2005 to 2012, total student loans increased by $539 billion, according to the Federal Reserve.

Check Out Capital in the Twenty-First Century by Thomas Piketty at A #1 Best-Seller

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