“Stupid And Ridiculous”: Rabobank Says The Fed Will Cause Everything To Come Crashing Down In Epic Ruin
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“Central banks carry out a nation’s monetary policy and control its money supply, often mandated with maintaining low inflation and steady GDP growth. On a macro basis, central banks influence interest rates and participate in open market operations to control the cost of borrowing and lending throughout an economy.” Investopedia
Really? That’s how it works, is it? At this point anyone who can’t see our real economic/financial market paradigm is either foolish, ignorant, or wilfully blind. The Fed has just admitted wages can’t rise except by making very rich people very much richer for a long, long time; then, finally, they might start to go up – perhaps. Moreover, the Fed has demonstrated yet again that it not only ignores asset bubbles –it will “never hold back support for the economy even if asset prices are too high”– but that it wants those bubbles. How can this end well?
Look at the uneven distribution of stock holdings. Gallup states that as of 4 June 2020, 55% of the US owns some stock: 66% of those aged 50-64 and 32% of those 18-29; 58% of men and 52% of women; 64% of whites, 42% of blacks, and 28% of Hispanics; 85% of post-graduates and 33% of those with no college education. It is far from genuine equality of ownership by any means. But what Gallup does not say, and Goldman Sachs does, is that as of February this year 50% of the US stock market was owned by the top 1% of society.
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