Financial, Economic and Social Mood Update (November 1, 2026)
This monthly financial and economic blog has been posted since August 2013. The entire inventory of monthly blogs going all the way back to August 2013 may be accessed on our main Borromeo site: https://theborromeofamily.com/the-marc-nonnenkamp-show/. The financial blog has received more than 10,665,081 visits since then – thank you so much for your interest and patronage.
The financial blog began when I began promoting my published books on the main Borromeo site. My books have been sold through Amazon.com on their numerous global retail sites since November 2010.
Our main Borromeo family site launched in April 2006 and began counting Internet visits in November 2006 – since that time we have received more than 151 million visits from 196 countries and territories all over the entire world.
My most recent monthly blogs have shown the distribution of global wealth as well as the quantifiable financial asset base of planet earth. The goal here is to help assist those in positions of policy making to address the problems of wealth inequality, environmental degradation and political instability. The dangers to be avoided include social unrest, environmental collapse and political extremism especially of the far right wing which seeks to blame complex problems on unfortunate scapegoats.
The global distribution of income is related to the global distribution of wealth which it ultimately helps to form. Most of the income and wealth on the planet is in private hands. The public and nonprofit sectors own 21 percent of the world’s wealth and they receive 11 percent of the world’s income. This necessary amount includes things like national parks and other public lands as well as many hospitals, schools, institutions of higher learning, research, libraries, public safety and the like. Discounting the record nominal global asset bubble which has given us the first Dollar trillionaire (Elon Musk) the top global income bracket includes those 300,000 people who make USD $10 million or more per year (between 7 and 8 percent of the world’s GDP). The next highest income bracket is for those 1.5 million individuals who make in between USD $1 million and $10 million per year (less than 2 percent of global GDP). The third highest bracket is for those 58 million people making from USD $100,000 to $1 million per year (from 14 to 15 percent of global GDP). The largest bracket in terms of overall share is for the 2.5 billion people who make from USD $10,000 to $100,000 per year (63 percent of global GDP). The bottom bracket includes everyone else making less than USD $10,000 per year: 67 percent of the world’s human population who receive just 13 percent of global GDP (gross domestic product).
Addressing these problems has nothing to do with socialism or even communism as many of its detractors falsely accuse. Indeed most of the world’s affluent people tend to vote left of center – it is largely those with much less affluence, much less formal education and those who reside far from large urban areas who tend to believe the lies of the extreme right political wing.
Addressing these problems merely seeks to create a more level playing field and to give the entire human community the advantages of more employment opportunity, educational opportunity, basic healthcare, more employment security with benefits such as paid leave, social insurance for old age retirement, food security, basic housing and a healthier natural environment without respect to “identity politics” which seeks to divide the human population on the basis of race, national origin, ethnicity, language, culture, DNA, haplogroup, location, faith, age, income, wealth, lifestyle, gender, gender identity or preference.
Recent history has valid examples of higher tax rates than we now have and none of this past policy ever created anything like a socialist or communist society. The world has always had rich and poor people and always will have them. As previously mentioned these policies merely strive to create a more level playing field and to give entire human community more basic social benefits and security.
In the USA the top federal income tax rate today is just 37 percent. The peak rate of 94 percent was seen from 1944 to 1945. The top short term (less than one year of asset ownership) capital gains rate is likewise 37 percent today whereas the top long term federal capital gains rate is just 20 percent. The peak rate of 77 percent was seen in 1918. The top corporate income tax rate is now 21 percent whereas the peak rate of 53 percent was seen from 1942 to 1949. It is noteworthy to point out that the overall effective federal corporate income tax in the USA today is merely one percent which is one of the major reasons for the disastrous federal budget deficit. The problem beyond this is the top level of global estate planning which involves what are called offshore trusts and offshore holding companies. These entities allow multinational corporates to legally move their profits across international borders to avoid paying tax which is an even bigger reason for public sector deficit spending worldwide.
November 2026 Midterm Election in the USA
The November 2026 midterm election in the USA is well underway with early voting and many people are voting which is a good thing. Thanks to Professor Michael McDonald at the University of Florida in Gainesville, we have a real time monitor for the election: https://election.lab.ufl.edu/early-vote/2026-early-voting/.
This is truly the ultimate election “poll.” As of now, fully 90,972,925 Americans have already voted or requested early mail-in ballots and more than 54,234,332 voters have already cast their votes. Not all 50 states and 6 territories provide the same demographic data, but we do have broad demographic data which show clear trends. The data for the party registration of voters (more than 26,054,183 people) shows 43.0% Democratic, 31.7% Republican and 25.3% Independent. The data for age (12,241,060 individuals) shows 43.2% over age 65, 37.5% ages 41-65, 13.2% ages 26-40 and 6.0% ages 18-25. The data for gender (11,756,794 voters) shows 54.2% female, 43.8% male and 2.0% other or unknown. The data for race (6,211,087 people) with just four southern states reporting this shows 59.3% white, 27.4% black, 3.2% Hispanic, 2.1% Asian, 0.5% Native American and 7.5% other races.
These number point not merely to a Democratic victory or landslide but to an historic generational shift in favor of the Democratic Party – the first such shift since the “Reagan revolution” of 1980. The 2020 US Census racial statistics for the entire USA show much higher numbers for Hispanic and Latino Americans (19.5%), Asian Americans (7.24%), Native Indigenous Americans (2.92%), Multiracial Americans (10.2%) and Americans of other races which is largely Middle Eastern (8.4%). 2020 US Census statistics on gender preference show 9.3% LGBTQIA+. Other unique 2020 US Census classifications include military veterans (4.62%) and those not allowed to vote such as undocumented immigrants (4.1%) and people who are incarcerated (0.55%). Recent media public opinion polls show overwhelming majorities of registered Democrats and Independents favoring Democratic candidates and up to 27 percent of registered Republicans GOP leaning Independents not in favor of MAGA.
