what do you invest in?
fwiw:
Posted on 06/18/2015 7:08:08 PM PDT by Nachum
“First, widening inequality is a very long-term trend, one that has been decades in the making. The degree of inequality we see today is primarily the result of deep structural changes in our economy that have taken place over many years, including globalization, technological progress, demographic trends, and institutional change in the labor market and elsewhere. By comparison to the influence of these long-term factors, the effects of monetary policy on inequality are almost certainly modest and transient.”
That’s what Blogger Ben Bernanke (who is of course distinct from PIMCO advisor Ben and Citadel co-conspirator Ben) had to say earlier this month about the idea that the Fed’s post-crisis policies have contributed to income inequality in America.
The above-cited Bernankespeak can be translated as follows: poor people have been getting poorer for a long, long time, so sure, maybe the Fed contributed a little bit, but probably not a whole lot.
A common sense appraisal of QE tells a different story.
Deliberately inflating the assets most likely to be concentrated in the hands of the rich quite clearly increases the wealth divide and indeed, even the St. Louis Fed acknowledges that the American Middle Class is effectively dying a slow death in the post-crisis world.
For proof, look no further than the latest data on US household income which shows that while the 0.001%, the 0.01%, the 0.1%, and the 1% have all nearly recovered their pre-crisis share of the national income, the bottom 50% of US filers' share is not only lower than it was in 2007, but is in fact lower than it was in the depths of the crisis:
(Excerpt) Read more at zerohedge.com ...
The list, Ping
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As a broke working class puke, I demand reparations!
Actually, if Mother Government would just leave me the hell ALONE, I’d take THAT as compensation! :)
What would you expect? The refeudalization of the west is almost complete. Thanks to the GOP, we marched another big step forward today.
I’ve been self-employed since 1976. I went Galt almost 5 years ago, partly over Obama care. I like being deleveraged from debt. I will thrive in the new economic constructs that includes a collapse. (good tagline)
Thank the Federal Reserve, and our government, which is enslaved to debt.
I’m right behind ya! Still workin’ on my stash, but every day brings me closer. :)
I’ve posted for years that American workers have watched any workplace gains slowly erode over time. We are at a point now where many of the 29 hour per week jobs require complete scheduling flexibilty that prevents workers from seeking additional work.
As a broke working class puke, I demand reparations!
Actually, if Mother Government would just leave me the hell ALONE, I’d take THAT as compensation! :)
Amen! Their redistribution and economic stimulus plan left us pretty damn broke with income dwindling and the price of everything going higher thus depleting our savings! That one agitator can cause so many problems and stay in office is beyond me...
I get notices on certain real estate each day. I see prices on properties dropping by the week. It is a buyer’s market in the area I am searching with more property coming up for sale each week.
Last year I was in the market for an airstream travel trailer. Any trailer for sale was sold within hours of being advertized. This year, I just looked today, there are nine pages of late model airstreams for sale deep into the prime sale and use season.
This economy is nothing but a shell game. People are hurting.
PS.
I am doubtful we will come out of this ditch anytime soon if at all. If at all is gaining.
The kids I see are just stoic. What poll was it today that said 80% of the people have no confidence in much of anything?
One of our most promising young men killed himself last week. We’ll not know why in this life but my inclination is that he did not see much of a future. I don’t know. Of a list of a hundred people who I might expect he did not make the list.
I’m similarly self-employed and deleveraged but what do you invest in?
Middle Class Incomes Yet To Recover From Crisis As Wealth Gap Widens
There is probably 20,000 people in the D.C. area winking and nodding. This does not include all those who own them.
Trade deficits and balance of payments deficits. America has been betrayed for over 40 years. The traitors have built a monster of a system indeed, and the reason for the gigantic piles of debt. Some of the revenues in a wealthy country come from a large manufacturing base on that country’s soil.
Too many in high places are too shortly descended from Europe and elsewhere and were not fully assimilated into the culture that made America great until the ‘70s.
I just received notice of my 50th high school class reunion.
West High Class of 1965, Bremerton, WA.
What happened to the America we grew up in? Did we do this to ourselves?
what do you invest in?
fwiw:
Now what? How do you explain yesterday’s NASDQ record close?
Thank the Federal Reserve, and our government, which is enslaved to debt.
...
For decades the Federal Reserve has blamed higher wages for inflation. The result is that they have held down wages relative to inflation. That and other government policies have led to a lower standard of living for the middle class on average.
About Inequality: Rich Get Poorer Over Time, Not Richer
http://news.investors.com/ibd-editorials-perspective/060515-756054-top-earners-target-of-class-warfare.htm
I guess the ‘rich’ are not getting poorer fast enough for their liking
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