Date: Nov 7, 2012 1:22 PM
Subject: Re: Speachless In New York (or, another OMG moment)
"many of them fantastically rich. (More than 90% of all new income and wealth is now going to just the top 1%.) How much larger? Enough to reach about 44% of our roughly 15 trillion dollar GDP in 2010, according to the green line in the chart in the next link."
In which asset did these mythical "fantastically rich" households invest? Real estate, which is already down two thirds and the other shoe hasn't even dropped yet? Or the stock market, where the S&P plunged MORE THAN TWO thirds right after Obama was elected LAST TIME, and dropped another 3% in ONE DAY this time? Or Japanese Yen, as I have?
Exactly what are you going to do about it, Paul, when the REST of the "fantastically rich" leave California and follow the many millionaires (and even billionaires) who already have?