Federal Reserve Program Is Socialism for the Rich

By: Friday September 20, 2013 12:50 pm

If you have followed any economic news at all you will have heard the term quantitative easing, or QE, which is technocratic shorthand for the Federal Reserve shoveling funds into Wall Street banks to produce a phenomenon known as the “wealth effect.” The wealth effect relies principally on trickery. The hope being that people will see higher asset prices, and in a self-fulfilling prophecy, invest and produce more thinking the economy is better – which will make the economy better. So endeth the theory.

The reality is the Federal Reserve’s QE program has made the rich a lot richer and done little to nothing for the poor and middle class.

 

Americans Feel Better Off in Their Personal Financial Situation for First Time in Five Years

By: Thursday October 25, 2012 10:56 am

Gallup has a critical poll out today that makes no mention of Barack Obama or Mitt Romney, but tells us something about the economy.

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