While 2/3 of all US corporations carried an investment grade
rating in the 80's the situation has reversed and 2/3 of US
corporations are junk rated. This, as far as I know, represents
a historical record.
Thereby not many companies are in a position to take advantage
of the opportunities which may arise as a result of this crisis
simply because they do not have their house in financial order
and lack capital resource.
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.
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