(laughter) folks, that record high is good for everybody, especially wetiest 5% of americans who own 82% of all stocks! the other 95% have their money invested mostly in beanie babies and donated canned goods. (laughter) (cheers and applause) lot of wal-mart fans here tonight. but now socialist commissars over at the "wall street journal" are saying the gulf between the haves and the have-nots may hurt the economy. well, that's exaggerating. a gulf? my gated community only has a moat. (laughter) no surprise the rest of the red brigade is joining in. like that manager of the world's largest bond fund william gross. >> ordinary folks, the 99%, don't have any money anymore! the rich 1% and corporations do. developed economies work best when inequality and incomes are at a minimum. >> stephen: that is a sobering thought. metaphorically, of course. as soon as i heard it i got drunk. (laughter) the point is i'm choosing to believe that income inequality isn't as big a deal and doesn't need to change. here to tell me it is a big deal and needs to change is former labor secretary for preside