After a weekend that many on Wall Street wished would last forever, investors were hoping these volatile markets would show some signs of stability after last week's craziness. Better luck next week. With a decline of 3.27% today, the Dow just registered its fifth 3% day out of six trading days. Only the '87 Crash and the Great Depression saw such short-term volatility in the markets.
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, September 22, 2008
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