Rich-Poor Comfort Divide Surges To 2-Month Highs
Following Fed Governor Tarullo's comments this week on central bank policies and the recovery benefiting high-income earners disproportionately - potentially damaging the "nation's democratic heritage", we thought it ironic that this week's Bloomberg Comfort Index data showed that the rich (high incomes) just got a whole lot more comfortable and the poor (low incomes) got a whole lot less comfortable. In fact, the rich-poor comfort divide jumped back to 2-month highs.
This is the first major divergence since early December.
Though, we suspect, once the "rich" look at their brokerage statements this weekend things might change a little...
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