New home of @David_Charts. Armchair economist, sci-fi fan, impressed by good data viz. Node in the vast left wing conspiracy. Facts have a liberal bias.
Blue territory.
Based in United States
- Tweets 17,672
- Following 2,036
- Followers 2,248
- Likes 19,925
In just the last quarter, the top 10% net worth increased over $10 trillion. That's equal to:
1) Free college tuition forever along with student loan forgiveness if setup as a fund; or
2) Paying down 25% of the national debt, thereby saving $400B/year in interest costs.
1
1
3
190
So adding off-balance sheet debt and a corresponding asset using the asset credit % on slide #4, you get the following d-e ratios.
AMZN appears as the safest choice for an investor, as it has a big diversified asset base & relatively smaller commitments. 5/END
2
1
370
You have to make an assumption of how much assets will be added based on the off-balance sheet debt. Copilot AI estimated these for me; they range from 70% to 90% based on the different nature of these businesses and the type and amount of off-bs items. 4/
1
1
68
The debt to equity (d-e) ratio is a common way of evaluating leverage or debt burden. Based on the latest financial reports, here are the ratios, excluding the off-balance sheet assets and liabilities. 3/
1
1
47
🧵When considering how indebted the big AI/tech companies are or are planning to be, remember that off-balance sheet liabilities also represent off-balance sheet assets; e.g., AMZN purchase commitments are mostly for assets they will put on their balance sheet at purchase. 1/
2
2
6
623
Bottom 40% struggle. We should be taking healthcare or education or both off their back. The rich have so much money they could do it and barely notice while they keep getting richer.
Far too many Republican voters put their bigotry ahead of their own economic interests.
2
3
337
Yes, if we assume the higher imports cancel much of the investment, the tale of the quarter was robust consumer spending. This is likely boosted by rich people fueled by stock market wealth, much of it AI-related.
1
2
108
Personal savings rate has fallen from 5.7% when Trump started in Jan '25 to 3.8% in Sept '26.
Households were saving $10,200 (annualized & real) in Jan '25; this has fallen $2,800 or 28% to $7,400 in Sept '26.
About half is inflation, the other half is buying more stuff.
3
11
12
643
NYT Editorial Board: Trump Has Failed. Hold Him to Account.
nytimes.com/2026/10/27/opini…
11
4
17
379
Rich doing fine and are in desperate need of a wealth tax.
economist.com/united-states/…
4
14
36
5,114
The Economist: Bottom 60% worse off under Trump's policies.
+$1,100 tariffs for consumer goods
+$1,000 Iran war
+$11,000 tariff cost on materials for new home
5 million lost food stamps
Slower wage growth
Mfg employment down
economist.com/united-states/…
2
2
3
213
1. Remove the cap and Social Security is funded fully for 30 years. It only hits the top 6%.
2. Wealth tax on top 10% the best choice for funding government.
2
1
68
Affordability is about taxing the rich to pay for healthcare and education for the middle-class. The top 10% have $128 trillion net worth. A 1% tax on that (graduated) makes affordability possible.
1
132
Manufacturing employment is below where Trump started. That's what matters.
fred.stlouisfed.org/series/M…
3
47
The ACA cut the uninsured rate in half and with subsidies it's incredibly affordable to get a silver plan. Republicans blocked extension of the expanded subsidies.
Sadly, Trump's sabotage is causing the number of uninsured to jump in 2026 as well.
17
2
42
1,062
For your coworker who’s into techno, check out “Mothership” at 22:45.
piped.video/bFybh5VD9wk?is=r8t3…
10
Finally, the good SCF news was on family income, which adjusted for inflation climbed 7% from 2021-2024 (the income year trails the survey year). At the median, Americans had about 10% more purchasing power in 2024 than 2019 pre-pandemic. 14/END
1
1
1
69
The Fed released its Survey of Consumer Finances, a great read on how households were doing in 2022-2025. Net worth fell for the lesser educated and younger groups. Those with less wealth got poorer as home prices fell. Download the PDF. 13/
federalreserve.gov/econres/s…
1
38
Recent Census data showed the # of uninsured has jumped about 2.3 million through September 2026. This is ACA subsidies ending, Medicaid requalifications, and higher prices. 12/
1
1
1
39
CBO published its annual report on income inequality. Since 1979, after-tax income share of the top 1% has doubled, while rest fell. The drop in share going to the middle class translates as ~$10,500 per household annually less income. 11/
cbo.gov/publication/62761
1
1
2
54
The long-term deficit challenge is flat revenue with an aging country. We have to tax the rich to get the revenue line moving. Spending has gone up about 5% per year on average since 1962 and aging and interest expense will ensure that continues. 10/
cbo.gov/publication/62105
1
17
How unusual is a 6.2% GDP deficit? Since 1962, there were only 5 fiscal years when the budget deficit was over 7% GDP (pandemic and GR). The 6-7% bucket is also rare, with only 3 instances, mostly since pandemic. High interest rates on a high debt balance is now a big driver. 9/
1
18
CBO reported the budget deficit was around $2.0 trillion in FY 2026 which ran Oct 1 '25 to Sept '26. This was up slightly from last year, around 6.2% GDP. 8/
cbo.gov/publication/61985
1
18
The real (infl-adj) hourly wage for production & non-supervisory workers* is barely above where Trump started, up 0.4% total. For all workers, it's back to the November 2024 level, erasing ~2 years of gains.
*The bottom 80% and a good proxy for the middle-class. 7/
1
17
Turning to household finances, prices of everything are up since Trump started, contrary to his campaign promises. This is directly due to Trump's tariffs and the Iran conflict, which were avoidable errors. 6/
+42% Gas
+8% Electricity
+5.5% Rent
+5.4% Inflation
+3.3% Groceries
1
2
53
People wonder if the employment numbers are faked by the Trump Admin. This is unlikely:
1. They're bad.
2. Wall St. wants true numbers.
3. The ratio of payroll tax collections to jobs is as expected. The former is from the Treasury Dept. It's tougher to fake the cash. 5/
1
17
The Household Survey part of the jobs report, where we get the unemployment rate, shows nearly all the key measures are worse than when Trump started:
Labor force: -434,000
# Employed: -679,000
Unemployed: +244,000
Unempl. rate: +0.2%
NILF: +3.3 million 4/
1
2
102
Trump's 2nd term job creation has averaged 39,000 per month, below Biden's any way you slice it and Obama's 2nd term. 3/
1
3
432
Over the past 3 months, healthcare has continued driving employment, but construction (AI/data centers) and manufacturing also have added jobs. Professional, financial & information have lagged, perhaps also due to AI. 2/
1
1
2
127
