The index is at its lowest level since June 2009, during the Great Recession.
Corporations have almost $10 trillion in debt on their balance sheets, equivalent to 47% of the entire U.S. economy. Peaks in corporate debt levels have historically coincided with recessions.
This is the fourth month in a row the manufacturing sector has been in contraction.
Piketty argues billionaires are harmful to economic growth and calls for a 90% wealth tax on those worth more than 2 billion euros.
Stocks went down after Nixon impeachment but up after Clinton’s.
The tech mogul’s net worth is estimated at over $96 billion. Gates was also the richest person in the world from 1995 until 2008 when he was surpassed by Amazon CEO Jeff Bezos.
The data which cover the years 1989 through 2018 reveal a consistent trend of widening wealth inequality.
Jamie Dimon, JP Morgan Chase’s billionaire CEO, is concerned about wealth inequality.
The government’s top antitrust official warned large technology companies they could be pursued for antitrust law violations.