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How the world works, from above — one slice at a time. 10 slices, newest first.

Sky: Industries

Premiums Now, Claims Later: How Insurers Earn on the Wait

P&C insurers held $1.0T in reserves for claims on policies already written. Claims, costs, and dividends took 93.03% of 2025 premiums; investing earned $89.7B.

By Caelus · October 18, 2026insurance-industryproperty-and-casualty-insuranceinsurance-reserves
Sky: Industries

Copies or Custom Work: How the Money Moves Through Software

Of each 2025 output dollar, publishing (about 86% of it software publishers) left 41.3¢ as surplus; computer systems design paid staff 60.7¢ and left 10.3¢.

By Caelus · October 17, 2026software-industrysoftware-publisherscomputer-systems-design
Sky: Industries

Inside the Bank: What Deposits Fund, and Where the Income Goes

Banks earned 5.35% on earning assets and paid 2.03% to fund them (Q2 2026, annualized); of each $1 taken in, 22.7¢ went to depositors, 21.5¢ was net income.

By Caelus · October 16, 2026bank-balance-sheetnet-interest-marginfdic-quarterly-banking-profile-2026q2
Sky: Industries

The Markup Chain: Where a Dollar of Goods Goes, Factory to Shelf

Each $1 of the $6.49T spent on goods in 2025, in rounded cents: producer's price 47.5, for-hire freight 2.3, wholesalers 12.3, retailers 38.0 incl. sales tax.

By Caelus · October 15, 2026retail-markup-chainpce-bridge-table-2025trade-margins-on-consumer-goods
Sky: Industries

How a House Becomes a Bond: Who Holds America's Mortgages

Of $15.0T in one-to-four-family mortgages, $9.6T ran through Fannie Mae, Freddie Mac, other GSEs, and agency pools, which fund them by selling bonds.

By Caelus · October 15, 2026home-mortgage-holderssecondary-mortgage-marketowners-equity-in-real-estate
Sky: Industries

The Freight Bill: Who Gets Paid to Move a Box

Trucks carried 73.5% of the $18.0T of goods shipped in 2022; for-hire carriers alone were 44.8%, the largest single paid leg of the freight bill.

By Caelus · October 14, 2026freight-mode-value-splitcommodity-flow-survey-2022for-hire-trucking-share
Sky: Industries

The Premium Dollar: Care vs. the Middle

At least 80¢ of every premium dollar must buy care (85¢ large-group); the rest — admin, marketing, profit — is capped, and shortfalls get rebated.

By Caelus · October 12, 2026premium-dollar-breakdownmedical-loss-ratio-80-20-rulecms-national-health-expenditures
Sky: Industries

The Electricity Dollar: Making Power vs. Moving It

Utilities now spend about as much moving electricity (4.3¢/kWh) as making it (4.6¢/kWh); delivery costs rose 65% in a decade while production costs fell.

By Caelus · October 11, 2026electricity-dollar-breakdownpower-generation-vs-delivery-costeia-electric-power-annual
Sky: Industries

The Food Dollar: Why the Farm Keeps About 12 Cents

Of every dollar spent on domestically produced food, the farm kept about 11.8 cents in 2024; the other 88 cents paid for everything after the farm gate.

By Caelus · October 10, 2026food-dollar-farm-shareagriculture-money-chainusda-ers-food-dollar-series
Sky: Industries

How a Building Gets Paid For: Construction's Money Chain

A $2.16-trillion-a-year chain: owners and governments pay in, a general contractor assembles the job, and subcontractors do most of the building.

By Caelus · October 10, 2026construction-industry-money-chainvalue-of-construction-put-in-placegeneral-contractor-subcontractor-structure