
#11: Dale Wettlaufer on Value Investing in the 21st Century
Superinvestors and the Art of Worldly Wisdom
Schiller's Data on Earnings Growth During the Great Depression
In the 1960s real GDP was growing 4.7%. We're growing 2.2%. Real DPI X personal current transfer receipts, which is a very important thing to think about because the classic C plus I plus G plus net X equals GDP calculation. Personal current transfer receipts were only 7% of disposable, uh, excuse me, in the 1960s. It's 20% today. Federal government liabilities to household income adjusted 55% in the 60s, 118% today. And ultimately it's the household sector that's responsible for this.
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