These are roundabout numbers.

And people talk about it without ever giving you a good definition.

I'm making some simplifications there, but everything left over is disposable income.

This isn't just me making up things.

That check that you get after your taxes and everything else that is taken out of your paycheck, that money, that is disposable income to you.

So a good place to start is just to think about disposable income.

Actually, you could go back even further than this and you can see from the 1960s all the way until the early '80s, the go go '80s, people were saving about 10 of their disposable income.

Disposable income is what counts for the level of personal consumption.

It also requires being connected to a lot of management assistance.

For example, the government says that the typical household spends 15.7 of their disposable income on

And obviously, it's become a big problem, has become a big factor in terms of what's causing the financial crisis right now.

Because you can compare your own household to what the government thinks is a typical household.

So this box right here is GDP, so it's all the goods and services, essentially all the income, that we produce.

Of what they got on that paycheck after paying taxes, they were keeping about 10 of it, putting it in the bank.

invading Iraq versus liberating Iraq

Eight years, minimum security.

We will be able to look at income distributions in completely new ways.

Or we could start with our own income.

When people can't borrow anymore, the savings rate has to go to 10 because most of this is just from people taking on more credit.

Demolished?

And if you set foot in my office again without my prior consent,

This is the income distribution of China, 1970.

look at income distribution.

What unit are you from?

And even if you graduate from high school, if you're low income, you have less than a 25 percent chance of ever completing a college degree.

Clean up.

Clear out the dead.

I mean, what...?

like these people here giving aid to these people here.

Fetching locations...

So in this period, I made 350,000.

Let me put that.

It's the top line of the income statement.

You sell the widget. You give a customer a widget, and they give you some money.

Investment income.

By whose authority are you doing this?

And you multiply it times itself seven times and you get 1 128.

I'll go with you.

Now investment constitutes only about a fifth of the national income in most modern economies, but it plays an absolutely vital role.

They could be anywhere.

So, how could we make better sense about this?

And then the company might have made some money there.

Maybe there's a lot of demand for this type of asset, where

Student I feel as stupid after all you've said, as if a miller's wheel were whirling in my head.

Get smb. conf Location