Wednesday, May 13, 2009

Socialist countries returns 1% higher

I flipped through the channels and heard a blip on CNBC by some talking head saying that socialist countries have returns that are 1% higher than non socialist countries. The comment is idiotic because returns are usually stated nominally. Socialist countries have this tendency to devalue their money much more quickly because they find they cannot compete with the global economy. So real returns are the important factor. Anyone that had their money with this fool please withdraw your cash from this idiot's hands lest he invest it in a socialist country.

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