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.
Monday, May 18, 2009
Stock Returns and Employment
From 1947 through 2007, the nations’ unemployment rate was under 6% about two-thirds of the time, and over 6% the other one-third of the time.
For the time the rate was under 6%, the stock showed an annualized real return of 3.7%. When the rate was over 6%, the real return jumped to 17.3%.
The moral of the story is one I’m sure you already knew: Rotten times are great times to invest.
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