Posted on 04/20/2022 10:07:29 AM PDT by Browns Ultra Fan
The Covid epidemic was bad enough with the government shutdowns and deaths. But was even worse is that all the Fed monetary stimulus and Federal government stimulus “relief” led to a reversal of fortune. In that, the share of net worth held by the top 1% grew and the gap between the 1% and bottom 50% hit an all-time high.
Now that the 1% have fed at the Federal trough, The Fed is anticipated to raise rates by 100 basis points at the next two meetings.
Remember, REAL average hourly earnings are getting crushed under Biden and his pro-1% policies.
This is a nightmare for the American middle-class and lower-wage households.
(Excerpt) Read more at confoundedinterest.net ...
Along with all of them that voted for these bailouts.
We get a couple of $1,200 checks, then pay $20,000 (or lots more) in high inflation prices the next few years. Precisely when we retire, too. Damn them all.
Its called the “Cantillon Effect”
Its been an economic truism since the early 18th century - when new, government/centrally-controlled money is issued, the inflation it causes is asymmetric, meaning it will always benefit the “first handlers” (government itself, connected cronies) of that new money, to the detriment of people further down the chain who receive it later after prices have adjusted.
Its a reverse-Robin-Hood machine, steals from the poor, to give to the rich.
America’s founders understood this too as commonly accepted wisdom.
The great trick of 20th century progressives and central planners was to convince people otherwise.
I keep telling people that socialism is nothing more than a wealth transfer from the poor to the rich, but they keep telling that I’m wrong.
I wholly disagree with this opinion on the Fed’s interest rate increases.
While that’s what they SHOULD do, they won’t. nothing but 25 basis points per meeting and nothing after the meeting before the November election.
Look back 5 or 6 months from now and see who guessed right.
Exactly right. Why more people can not see this blows my mind.
Fauci first.
He caused the pandemic with his insane research.
I know Jeff Bezos loved the lockdowns.
Whoever owns Target as well.
Most people have never taken an Economics class, nor do they read books by investors/economists. Sowell, Taleb, Friedman, Hayek, Bastiat, etc..
I would also state most people don’t plan beyond the very close timeline.
Of course the wealthier got richer...They didn’t have to spend theirs...It went straight into their accounts. Corrupt governments shut down thousands of small businesses, while leaving places like Walmart wide open, economically gang raping what’s left of the middle class.
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