12/13/2022 0 Comments New york times economix![]() ![]() Federal defense spending is running at a rate of about 5 percent of GDP federal non-defense spending is at 7 percent and state and local government is approximately 12 percent-a total of 24 percent of the U.S. In the United States, the government is taking an increasing share of resources and this has trended sharply upward since 1947. GDP is the sum of consumption (C), investment (I), and government (G) expenditures in a closed (no goods in or out) economy. One of the most disturbing economic trends is the ever increasing percentage of government expenditure in the U.S. ![]() ![]() A commitment to capitalism suggests a major commitment of resources to individuals and limits on the power and resources of government. Indeed, virtually all corporate retirement investment choices assume this notion as a given. The experience of the past leaves little doubt that every economic system must sooner or later rely upon some form of the profit motive to stir individuals and groups to productivity. In The Lessons of History, the Durants wrote: Number One: Government Expenditures and Deficits Economic Issues to Monitor.” They were chosen by the author, and are not listed in order of importance. This article will not forecast, but rather will address what many believe to be “The Top 10 U.S. Most individuals are unaware of the economics underway that could seriously erode their retirement plans and could very well cause them to modify their investment choices. Economics is a very dynamic system that changes quickly due to the shifting causes and directions of individuals, and is therefore a very difficult system to forecast. In their famous book The Lessons of History, Will and Ariel Durant explain that economics in action is the contest among individuals, groups, classes, and states for food, fuel, materials, and economic power. Marx, who got almost everything else wrong but most likely got this right, connected economics to everyday reality. The reason is actually quite simple: “History is economics in action,” as Karl Marx noted. Forecasting economics is one of the more dangerous endeavors of life. ![]()
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