A couple of months ago, it would have been crazy to think that by the start of September, the homebuilders and the dollar would be up on the year, while the energy sector, natural gas and gold would be down on the year. But the tape today shows that just that has happened. The homebuilder ETF (XHB) is currently up 6% year to date, the US Dollar index is up 1.84%, natural gas is down 1.87%, gold is down 4.5%, and the S&P 500 energy sector ETF (XLE) is down 10%.
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.
Tuesday, September 02, 2008
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