>I'm hoping somebody (or many somebodies) can help me out with gathering
>some information. I need some data on:
>
>a) The amount of money flowing from companies to stockholders showing that
>the stock market is a source of 'negative' capital for U.S. businesses.
See below. The % of GDP column is just a way of putting the number into perspective over time - equity offerings don't enter GDP. The % of capital expenditures is relevant, since equity offerings are in theory supposed to finance capital expenditures. The source is the Fed's flow of funds accounts, March 1999 release.
>(Doug, I lent your book _WALL ST_ to a friend, so I no longer
>have easy access to the data. Should I have told him to buy his own copy?)
At least one copy, preferably many!
>b) Welfare reform. Apparently the welfare rolls are shrinking, but I need
>to know what is happening to these people. Are they getting jobs and
>moving up in the world? Or are they homeless now? Or something in
>between? Does anybody even know?
No one really knows. There's some journalistic/anecdotal work, but not much; I think the general story is that some are getting jobs, but they're crappy jobs, and some aren't. In NYC, where the rate of welfare-kickoff has been quite high, the Giuliani administration has refused to share the data, so no one (outside the administration) is even allowed to know.
Heather Boushey, who's tracking this for the NYC Housing Authority - you here?
Doug
----
NET EQUITY RAISED BY U.S. NONFINANCIAL CORPORATIONS
millions of dollars,
percent of GDP,
and percent of capital expenditures
percent of
$ million GDP capex
1952 2,320 0.6% 9.4%
1953 1,766 0.5% 6.8%
1954 1,583 0.4% 7.2%
1955 1,719 0.4% 5.5%
1956 2,250 0.5% 6.2%
1957 2,441 0.5% 7.0%
1958 1,968 0.4% 7.4%
1959 2,078 0.4% 5.6%
1960 1,365 0.3% 3.7%
1961 2,121 0.4% 5.9%
1962 369 0.1% 0.9%
1963 -341 -0.1% -0.8%
1964 1,145 0.2% 2.3%
1965 -28 0.0% 0.0%
1966 1,259 0.2% 1.7%
1967 2,397 0.3% 3.4%
1968 -159 0.0% -0.2%
1969 3,406 0.3% 4.1%
1970 5,694 0.5% 7.2%
1971 11,435 1.0% 13.5%
1972 10,922 0.9% 11.0%
1973 7,883 0.6% 6.5%
1974 4,097 0.3% 3.0%
1975 9,908 0.6% 8.7%
1976 10,524 0.6% 6.8%
1977 2,727 0.1% 1.5%
1978 -101 0.0% 0.0%
1979 -7,836 -0.3% -3.2%
1980 10,375 0.4% 4.1%
1981 -13,450 -0.4% -4.4%
1982 1,900 0.1% 0.7%
1983 20,000 0.6% 6.8%
1984 -78,975 -2.0% -20.3%
1985 -84,500 -2.0% -23.0%
1986 -84,975 -1.9% -24.6%
1987 -75,500 -1.6% -21.0%
1988 -129,500 -2.6% -35.5%
1989 -124,150 -2.3% -31.5%
1990 -63,000 -1.1% -16.2%
1991 18,250 0.3% 4.9%
1992 27,000 0.4% 7.0%
1993 21,300 0.3% 4.8%
1994 -44,900 -0.7% -8.7%
1995 -58,330 -0.8% -10.3%
1996 -64,200 -0.8% -10.6%
1997 -114,430 -1.4% -17.1%
1998 -262,770 -3.2% -37.1%