It took all of three days for the S&P 500 to move from 2 standard deviations above its 50-day moving average to 1 standard deviation below its 50-day moving average. Will the Massachusetts election day not only mark a major turning point in Washington, but also a major turning point for the market?
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, January 22, 2010
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