Financial Markets

Debunking the Great Myth of the Financial Markets

Wed, 07/15/2009 - 9:15am — Tony Wikrent

Cross posted from The Economic Populist.

Suggestions to solve the financial crises by basically shutting down most of Wall Street are always shouted down by howls of "How are companies going to raise money?" or "How are people going to invest in companies?"

Well, take a good, long look at this graph, which shows the percentage of capital expenditures by U.S. non-financial companies that was raised in U.S. financial markets from 1952 to 2006.

NFC Capex from Financial Markets

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Per capita health care spending (2007):

United States: $7290
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Average of OECD developed nations: $2964
Italy: $2686
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13:57:03 brucedixon I think my colleague Glen Ford is writing on it this week in BAR so I will just co-sign whatever he says.
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21:03:43 lambert Thanks, Jeff.
18:16:03 Jeff W lambert, I wrote to NOW about that Elizabeth Warren video not playing and got a response of sorts back, which I sent to you as a private PM. Just FYI.
02:28:28 hipparchia the first thing they told us my volunteer training: humans are natural born rescuers.
00:18:34 lambert One more study... [url]
23:57:37 lambert Joe Bageant is god. [url]
01:00:54 lambert The actuary was a whistleblower under Bush, too. [url]
00:47:48 hipparchia that's ok, jason stands ready to help smear the actuary quoted in that wapo article [url]
23:16:16 lambert Elders under the bus on Medicare, naturally. [url]
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14:17:16 Davidson Notice how everyone still avoids exposing the RBC decision
14:16:04 Davidson Can someone do a post on this? [url]
10:04:26 lambert Jeff, thanks. Fixed.