We know that black youth in some of the city slums have a real rate of
joblessness approaching 50 per cent, leaving them to walk the streets hungry and without a decent means of earning a living.
In this second excerpt, Leithner discusses the Grahamite
approach to investment in an uncertain world (as it ever is), and why Grahamites pay no heed to mainstream economists» forecasts about macroeconomic aggregates such as inflation, exchange rates,
joblessness, trade and budget deficits and the like: