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March 9th, 2011 | #1 | |
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Join Date: Oct 2010
Location: East Tennessee
Posts: 8,506
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Social Benefits Are Equal To One Third Of All US Wages And Salaries
TrimTabs Finds Social Benefits Are Equal To One Third Of All US Wages And Salaries
Submitted by Tyler Durden on 03/08/2011 17:47 -0500 After yesterday TrimTabs Charles Biderman made it all too clear who runs the stock market, today the same firm exposes the system's dirty socialist core: "In a research note, TrimTabs highlights that government social benefits —including Social Security, Medicare, Medicaid, and unemployment insurance—were equal to 35% of all private and public wages and salaries in the 12 months ended January, up from 10% in 1960 and 21% in 2000. “We have no quibble with the view that the U.S. economy is expanding at a moderate pace,” says Madeline Schnapp, Director of Macroeconomic Research at TrimTabs. “But we believe Wall Street does not fully appreciate the degree to which growth depends on government support.” Schanpp's conclusion: QE3 is inevitable, leaving aside debt monetization concerns, as without it the US welfare state will collapse. DXY: meet 50, just in time for the NYSE Borse to extends its rollup with the Zimbaber stock exchange. More from TrimTabs: Quote:
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