Military spending by various countries all over the world can be measured as each countrys spending percentage of that countrys gross domestic product. A countrys GDP is a total of the value of the services provided in a country and the products that are made there. It does not include the value of items that are imported into that country, but it does include items that are made in a country and exported out of it. The GDP of a country is often considered to be a good indicator of that countrys standard of living.
In general, the Middle East has the highest amount of military spending when compared to the GDP of the countries in that region. Africa is a mixture of countries that spend little and countries that spend nearly as much as the Middle East when compared to their own GDPs. Europe and the Americas spend in the mid range with Mexico and most Central American countries spending the least of these countries when compared to its GDP. Australasia and East Asia are also in the mid-range with Japan spending little compared to its GDP.
Source : http://www.visualeconomics.com
“Inflation rate” is an economic term that refers to changes in a price index. The inflation of a country is the rate of price increase over a set period of time. Most inflation figures are given for the yearly increase in the price index. Inflation affects the purchasing power of the population and affects the economy of a country in countless ways. With a rising inflation rate, a currency unit will purchase fewer goods, necessitating a rise in salaries and other economic changes.
Inflation may seem like a constant issue, but different parts of the world have very different inflation rates. Some countries have double-digit rates of inflation, or even higher rates. Other countries have little to no inflation.
Source : http://www.visualeconomics.com
Taxpayer contribution towards IRAQ War so far – by State. (Source: National Priorities Project)
The net worth of the richest people in the world is the worth of the total assets that each person owns. The net worth includes the assets minus the liabilities. In general, it is the worth of all the persons assets, whether or not they are liquid. The 50 richest people in the world are:
- William Gates III (Bill Gates), United States, net worth $40 billion from software. One of the founders of Microsoft, Bill Gates has been the richest person in the world for most of the years from 1995 to 2009.
Warren Buffett, United States, net worth $37 billion from investments. Investor and Berkshire Hathaway CEO, Warren Buffet has pledged much of his wealth to philanthropic pursuits.
- Carlos Slim Helu & Family, Mexico, net worth $35 billion from telecommunications. Helu is one of the major influences over Mexican telecommunications. In 2007, he was briefly considered the richest person in the world.
- Lawrence Ellison United States Net worth $22.5B from software. Oracle CEO Ellison began in very humble circumstances and built up Oracle form a small business in 1977 to an enormous computer corporation.
Ingvar Kamprad & Family Sweden Net worth $22B from furniture retail. The founder of IKEA, Kamprad started selling matches as a child and built up his retail business into the multinational corporation that IKEA is today.
- Karl Albrecht, Germany, net worth $21.5B from supermarket retail
- Mukesh Ambani, India, net worth $19.5B from petrochemicals
- Lakshmi Mittal, India, net worth $19.3B from steel
- Theo Albrecht, Germany, net worth $18.8B from supermarket retail ………….
Source : http://www.visualeconomics.com/50-wealthiest-people-in-the-world/
Since federal limitations on domestic oil production in the 1980s, there has been a steady decline in US production. By 1994, the US was importing more than its total domestic production. Restrictions on supply help to drive up prices and unnecessarily contribute to US reliance on foreign oil.
As much as 66 percent of all US crude oil is imported from other countries, and the amount of oil imported from OPEC nations is roughly equal to the amount of oil produced domestically. Petroleum, natural gas and coal are the primary sources of energy consumed in the United States because they are the most energy rich resources available. So far, renewables have only been capable of providing a small portion of total energy consumption, and their contribution to energy consumption has remained limited over the last two decades. However, with increasing government and private focus on green energy sources, renewables are likely to go from strength to strength in the near future.