Post deleted by Mat Sklansky

[antisocialgrace]

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Jesus, for those who don't get it:

Wolfy borrowed $2,000,000 from the missus (?), a world famous jelwer. With that money, plus some serious leverage (short term loans from your broker), he short-sold 30-year bonds. To short sell something mean to borrow it from someone, sell it, and at some point later buy it again and give it back. Its the opposite of buying something, in that you make money when the price drops. 30-year bonds closed 1/2 point lower than yesterday, and now wolfy is worth $1.4 mil more than he was yesterday.

Alles klar?

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Classic example of people who already have money basically not doing a damned thing and amassing more fortune.

What a scam capitalism is.

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It doesn't seem like you're understanding that he actually did something.

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He did nothing but speculate on an outcome and trade fortunes with another degenerate. He created no new wealth. He provided no service, saw to the manufacturing of no product, labored to discover nothing useful or novel, tendered no aesthetic or uplifting experience for anyone other than himself and a few idiots in here who think they'll profit by emulating his reckless wastrel ways.