Today's 500+ point decline in the Dow Jones Industrial Average ranks as the sixth largest of all time. In terms of percentage declines, though, today's drop is much less dramatic. With a percentage decline of 4.42%, today's drop is the 104th largest since 1900.
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 15, 2008
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