Monday, February 1, 2010

We're All Socialist Now

Ignore the taxpayer funded banking bonuses for now (that is definitely not socialist, but more akin to feudalism) and check out the following definition of socialism (per Wikipedia):

Socialism refers to the various theories of economic organization advocating public or direct worker ownership and administration of the means of production and allocation of resources, and a society characterized by equal access to resources for all individuals with a method of compensation based on the amount of labor expended.
With that in mind, lets look at the change in construction spending over the last 12 months and see who is controlling more and more of that spending.



And control over marginal spending power of the consumer? Lets look at the year over year change in real personal income vs. the similar change in personal current transfer receipts, which consists mainly of government social benefits (unemployment, welfare, medicaid, etc...).



Not saying this is or isn't necessary... just saying.

Source: Census / BEA