By The Numbers - December 2017Submitted by S. F. Ehrlich Associates, Inc. on January 3rd, 2018
Source: Direxion Funds
December 31, 2017
- China’s economy is the 2nd largest in the world behind the US, but China’s GDP per person is only $9,377 while the USA’s GDP per person is $61,687.
- Janet Yellen took over as Fed Chair on 2/3/14, running the central bank for 31 meetings since then. 8 different Board of Governors members have cast 20 dissenting votes to Yellens’ interest rate recommendations made at the 30 meetings. None of the 20 dissenting votes were cast by Jerome Powell, a Board of Governors member since 5/25/12, and Yellen’s successor as of 2/3/18.
- US exports of goods and services to China have increased tenfold since 1999, rising from $17 billion in 1999 to $170 billion in 2016.
- Americans filed 150.5 million tax returns in the tax year 2015. 66% of the returns (99.0 million) paid federal income tax while 34% of the returns (51.5 million) did not pay any federal income tax.
- 54% of the taxpayers (49.8 million out of 92.4 million returns) that reported adjusted gross income less than $50,000 during the tax year 2015 legally did not pay any federal income tax.
- The 6.75 million tax returns from the tax year 2015 that reported at least $200,000 of adjusted gross income (AGI) represent 4% of all the tax returns filed, received 43% of all AGI nationwide, and paid 59% of all federal income tax in 2015.
- In the 70 years from 1947-2016, the S&P 500 had 27 declines of at least 10% (but less than 20%) or one every 2.6 years. A correction is defined as a stock market decline of at least 10% but less than 20%.
- In the 70 years from 1947-2016, the S&P 500 had 11 declines of at least 20% or one every 6.4 years. A bear is defined as a stock market decline of at least 20%.
- The last 10% correction for the S&P 500 was a 13.3% drop over the 3 months that ended 2/11/16. The last 20% or more bear for the S&P 500 was a 56.8% drop over the 17 months that ended 3/9/09.
- For the 7 years from 2010-2016, the S&P 500 experienced 417 trading days in which the index gained or lost at least 1% total return for the day, an average of 60 per year. YTD, the S&P 500 has produced just 9 trading days with at least a 1% move.
- 23% of health care spending in the US is incurred by just 1% of Americans. The healthiest 50% of Americans account for just 3% of total health care spending nationally.
- The total cost of Medicaid ($566 billion in the calendar year 2016) is shared between the federal government and the 50 state governments. Nationally the split of Medicaid expenses is 57% paid by the federal government and 43% paid by state governments.
- The national homeownership rate in the US is approximately 63.9%, down from a peak of 69.2% as of 12/31/04. Every 1 percentage point reduction in the homeownership rate represents 1.2 million households that have changed from homeowner to renter status.
- An estimated 10,100 Americans will turn 65 years old each day in 2018. This group represents the 8th year of 19 years of “Baby Boomers” turning age 65.
- There are 116,169 Americans on a national waiting list hoping to receive an organ donation, of which 96,335 people need a new kidney. 20 Americans die each day waiting for an organ transplant.
- Our country’s 147.0 million employees are split 85/15 between the private sector (i.e. non-government workers) and the public sector (i.e. government workers).
- The median sales price of existing homes sold nationally in October 2017 was 108% of the median sales price of existing homes sold nationally in June 2007 (the peak of the real estate boom), though sale prices in the Northeast have not completely bounced back. The October 2017 median sales price in the Northeast is just 93% of its June 2007 median sales price.
- The US economy grew by 4.2% per year over the 24 years from 1950-1973, 3.2% per year over the 27-year period 1974-2000, and 1.8% per year over the 16-year period 2001-2016.
- Phoenix was the 99th largest city in the US in 1950 with 107,000 people. Phoenix is currently the 5th largest city with 1.6 million people.
- Detroit was the 5th largest city in the US in 1950 with 1.9 million people. Detroit is currently the 23rd largest city with 673,000 people.
- An estimated 35% of the jobs to be created in the next decade (i.e. 4 million of 11.5 million projected new jobs) will be in health care and social assistance. 91% of the new jobs (10.5 million) will be in service-providing jobs as opposed to goods-producing jobs.
- Only 36% of all jobs in the US require education beyond high school (i.e. 64% of American jobs require a high school diploma or less). 27% of jobs do not require any formal educational credentials.
- 1 out of every 4 Americans who reach age 65 will live at least another 25 years.
- 10 years ago, it cost $10 million and took several weeks to sequence a genome (i.e. mapping out a person’s entire genetic code). Today, the work can be completed for $1,000 in just a few hours.
- 1 of every 3 Americans (33%) lives in just 4 states: California, Texas, Florida and New York. These 4 states were home to 107.5 million citizens at the end of 2016 (out of a total of 323.1 million Americans).
- Permits for the construction of 6.14 million single-family homes were issued during the 4 years of 2003-2006. Permits for the construction of 6.08 million single-family homes were issued during the 10 years of 2007-2016.
- A 1986 federal law requires hospitals to provide emergency service regardless of a patient’s ability to pay. Every uninsured person costs a hospital an average of $900 per year in uncompensated care.