With three straight days of gains (that's right, gains!), Japan's Nikkei 225 Index is up 26% since Tuesday. The current three-day run is the strongest since 1970. But even after this monstrous rally, the Nikkei is still 3% below the level it closed at nine days ago, and since the start of the second half, it is still down 33.0%.
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.
Thursday, October 30, 2008
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