You may as well ask who put the bomp in the bomp she bomp she bomp. We all know where that money went: Wall Street, banks, and bigger government.
I've just returned, about an hour ago, from a month overseas so I'll let this little gem, courtesy of the Heritage Foundation, using data from the US Dept. of Labor, speak for itself (below, click to enlarge).
What has this to do with investing? Everything! When private industry (what we call "revenue") loses 7 million taxpaying jobs and government (what we call "overhead") adds jobs, there is less money to support evermore government employees and therefore a less attractive environment in which to invest.
Fortunately we are nearing the first Tuesday in November...
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