Transcription
[Music] If you guaranteed me there would be a recession next year, I would be buying and selling the same securities I'm buying and selling today.
Who's winning in this economy right now? The rich guys like me. You know, we have gone from having 93 billion to the top 400 in 1982 to having 2.4 trillion—25 for one.
People who—it becomes a more and more specialized market economy. It was an agrarian economy a couple hundred years ago. Very hard, you know, to get 20 times the wealth of the next guy because you were a little bit better farmer. But if you're better at some skills now, you can become incredibly wealthy at a very young age, not because you earned the money to build one steel mill and then saved it to buy another steel mill. So you get the capitalized value of an idea. And so the wealth moves big time even on an anticipatory basis. And that has become more accentuated in the last 30 years.