The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own.
Friday, September 19, 2008
Oil Up $6 to $104
Somewhat lost in the mix today is oil's rise of $6 back above $100. As shown in the chart below, however, the commodity is still in a solid downtrend. For oil to break its downtrend, it needs to move and close above the $108-$109 level.
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