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.
Thursday, April 30, 2009
HY Spread vs Real Fed Funds Rate
that certainly looks like further spread tightening would not be unjustified but we'll see where it all leads to.