Three crucial facts about the past, present and future of world finance:
1) US financial sector profits as a percentage of total corporate profits in 1947: about 10%. In 2007: about 50%. (link)
2) Debt intensity of US GDP growth in 1965-1975: under 2. In 2006: over 4. (link)
3) After-tax corporate profits as a percentage of GDP (in the US) just before GWB took office: about 5%. Now: about 10%. (link)
Interesting times.
