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The Kudlow Report
Posted: Mar 25, 2011
They were all talking about the fact that gold and oil are so high traditionally means that the economy is in a disaster.
As one of them put it, "This is not a good situation for the Wal-Mart shopper. It's a bull market for the rich." He went on to talk about how the rich are doing better than ever, buying luxury goods, but consumer discretionary is not looking good and there is a 13% unemployment rate, for example, for the single mom, etc.
;
Also they are discussing a concentration of wealth and wages going down - see message
[ In Reply To ..]They were talking about unloading consumer discretionary stocks because wages are going down, but buy luxury stocks because there is a concentration of wealth which is leaving the Wal-Mart shopper behind.
Nothing new here! - AZMT
[ In Reply To ..]The wealthy have been fleecing since the very beginning. Those intent on being "upwardly mobile" themselves never wanted to admit to that fact, but the fact is that now things have gotten so bad there is NO upward mobility anymore, so the truth must be acknowledged.
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