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, May 07, 2010
High Yield Bond (HYG) and Preferred Stock (PFF) ETFs Crater
The High Yield Bond ETF (HYG) and Preffered Stock ETF (PFF) have cratered over the last half hour, giving up any gains they've made over the last six months and more. These are HUGE moves lower that came out of nowhere.
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