How long will that last, though? If the stock market tanks as it has been doing, how much money will be in those accounts? Of course, Obama will be King of Africa by then, wearing a crown and robe, being fed grapes by Reggie Love.
If you look at just the last two year performance of the NYSE, it has risen nearly 5000 points. It is inexplicable given the normal unfettered economic indicators (GDP, unemployment, CPI, and a host of other triggers). This unwarranted performance is what’s been propping up everyone’s perception of the economy (those that are not looking hard at it, any way).
I said ‘unfettered,’ but what has been happening almost 5 years now is this Federal Reserve QE thing (quantitative easing). For over 4 years Obama’s Fed has been creating electronic scrip to purchase T-bills (legitimizes debt with unaccountable debt) and Mortgage Backed Securities on the NYSE. This at a 50/50 approximate split. At $85 billion per month clip for 4.5 years, and now at $75 billion per month. THAT has been what’s propping up the stock market.
When that is ended, we’ll see the ‘tanking’ of which you speak. But as long as the Fed can inspect and audit its own underwear without outside inspection/audit, they may just keep up the lie a couple more years easy.