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"Fed Policies Have Made The Rich Much Richer", Fed President Admits
Despite Janet Yellen's meet-and-greet with the unemployed and criminal classes, the absence of Ben Bernanke has seemingly empowered several Fed heads to be just a little too frank and honest about their views. The uncomfortable truthsayer this time is none other than Dallas Fed's Fisher:
- *FISHER SAYS FED POLICIES HAVE MADE THE RICH 'MUCH RICHER' (but...)
- *FISHER: UNCLEAR IF FED POLICIES WILL BENEFIT THE MIDDLE-CLASS
We wonder how President Obama, that crusader for fairness, equality and all time Russell 2000 highs, will feel about that? In the meantime, just like the Herp, QE is the gift that keeps on giving.. and giving... and giving... to the 0.001%.
All of this, of course, coincides awkwardly with Bernanke's heartfelt "admission" that "my natural inclinations, even if it weren’t for the legal mandate, would be to try to help the average person." As long as helped to boost the wealth of the non-average billionaire., all is forgiven. "The result was there are still many people after the crisis who still feel that it was unfair that some companies got helped and small banks and small business and average families didn’t get direct help,” Bernanke said. “It’s a hard perception to break." The truth, as again revealed by Fisher, will not help with breaking that perception.
Remember, it's for Main Street...
US Income Gap Soars To Widest Since "Roaring 20s"
Record US Income Inequality In One Chart
Shopping With Bernanke: Where QE Cash Ends Up Tells Us Who Benefited
Just keep repeating to yourself - The government is here to help and Yellen is for the little guy...
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Mission Accomplished.
"If you like feeding your kids edible food-like substances, you can keep feeding them edible food-like substances."
--William F. Dudley
Beef may be at an all time high, but "genuine, artificially flavored meat product" has never been cheaper! HOPE and CHANGE!
Correction: William C. Dudley
I always have an inclination to give these assholes the middle initial of 'F' (I wonder what Freud would say about that).
He would say you're Fucked up in the head.
"Eat your peezTM*."
-- Moochelle
*peezTM are a "nutritious pea "substitute" made of a proprietary blend of Maltodextrin, "soy meal," green food coloring & artificial flavoring - produced by Monsanto at their Soylent Green manufacturing center.
Government actions have ALWAYS been about benefiting the control freak dominants in society.
"Yellen is for the little guy..."
No way, little guys would get sucked inside, yellen all the way in.
Isnt is about time for Mr. Bowl Cut to unleash the hounds? (open the QE spigots again).
“just like the Herp,”
I do not understand .. is that like a virus that spreads through close contact?
So after 5 years, these clueless basards are still wondering if their policies will benefit the middle class?
Front picture made me giggle. Ok I'm not poor, wife and I make a comfortable living but I do collect bottles and cans as my business is cleaning and repairing shopping centers. I hauled in $606 worth of recyclables last year.
That's $606 you Gold Bitchez left me, did I say Thank You?
Thank You !
like driving home and saying "honey i bought a new car and now we are broke". these ass hats knew exactly what their policy was going to do. now, to come out and say we made our acompliances rich and in a vain of opps, it happened, really irks me. duplicious bastards...
oh f...
they do not give a s. about anything below their pay grade or perceieved state...
but history always proves they get f'd in the end.. alligorically and literally.
.mm.. just kinda' thinkin about france at the end of the 18th century.
"Make room, make room" novel by Harry Harrison I thnk. Became Soylent Green.
Chuck Conners was pretty good in that movie along with Charleton Heston...
AND Edward G Robinson's last role.
..enjoy the strawberries while you can.
..and maybe that young woman property thing will see a comeback as .gov moosies us up.
Not to far from the truth......
Crony capitalism, bought and sold judicary and moribund, blackmailed, bought and sold legislators have made the rich richer.
The Fed merely funded the scam and that too mostly through Japan.
The wealth effect in America was through debt creation for a long time, NOT liquidity injection.
You should see hwo much GM is spending in India on new models, advertising....just as one example.
ori
http://aadivaahan.wordpress.com/2014/04/15/the-pharmacopic-scam-lies-exp...
And poor poor Ben doesn't understand why us peons don't appreciate him.
Screw'em
..but some of us have investments and personal ownership or knowlege of below lake leved stuff at low atomic weights.
ori.. i see the developments in your area as profoundly important.
even though the caucasions slightly up north are catching the news now.
ok.. I admit i, I am a guilt-ridden caucasion... but please don't blame me -- I never voted for mr. body oder (BO).
Indeed Manthong. If for nothing else, 1/6th of the world's population....it counts energetically. And right now, we are in a not good space.
As long as Jamie's bonus is secure. That's all that matters to us and to our advisers at CNBC.
I think those advisors made a mistake on the second graph up there. It says income earned at the top. Pretty sure the one to the right, you know the one with the 2936 top cats isn't earnedc at all. Rather should have been titled as Stolen.
The real discrepancy is in WEALTH INEQUALITY, any way. Not INCOME inequality.
That you secretly admire Bill Buckley?
He would say Buckley.
Oh but don't you all know that its your own fucking fault? Yeah, for not standing up and saying something, letting it go on, etc etc. I get so sick of the retards who pipe out that crap... They need something stuffed up their asses, a big foot comes to mind. Its not hard to see why the filthy rich are building compounds to ride out the storm. Question is, can they?
Moar sawdust in the pink slime please.
Transfer of wealth and power from the people to the State is their goal. Mission accomplished indeed.
WHERE ARE ALL THE KEYNESIAN STATIST ASSHOLES??? COME OUT AND DEFEND CENTRAL PLANNING AND DEFEND YOURSELVES!
Central is the root of all EVIL
Fully embodied in the disease of statism.
Defend what? This was the plan all along.
I was referring to people who continually vote and give more central planning authority to governments (e.g., RINOs and Libtards in the US),
In other news, water is wet.
in other, other news, new pope receives honorary cheese.
As long as Harry Reid manages to ultimately send in the mercs to take down the Bundy Family, as he's essentially promised to do, I know that I'll sleep better at night.
/sarc
Don't send a merc to do a drone's job.
.... so much for the arrogant, narcissistic, pathologically lying, illegal alien indonesian kenyan muslim sociopathic ignoramus fudge packer in chief and income inequality.... but don't you all worry, it will keep on with its grand imperial golf life sytle....
That was the plan all along.
What's your problem 99%? You got the food bank.
Chock full of juicy iPads
If you like your wealth you can keep you didn't build your wealth
Bullish Grey Poupon and Spam.
My Weiner Tastes Better with Poupon!
Right, that's why they have decided to keep doing what the've been doing...
Let me be clear; Execute the useless fucking paper-pushers, nothing changes otherwise.
(FYI- this is all according to plan)
Tsk,Tsk,Tsk if you execute them you'll be accused of being labeled another Hitler.
Towards the end of WWII, there was a persistent question as to what to do with the Nazis and specifically how to keep them from blending back into the local governments so they could escape justice and/or keep their evil intents on life support to bloom again another day. At a somewhat informal meeting, Stalin allowed that he wanted to round up 10,000 SS and just shoot them. No trials necessary. Just a nice round number and the requisite number of bullets.
Given the extremeties of WWII, I am not so sure I would have argued with him. Of course I would have expanded the 10,000 by one by including Stalin in the roundup.
At least "W" tried Saddam before he was executed. Obama didn't bother with that when it came to Gadaffi - run down and shot like a wild animal in the desert. Hmmmmm. Hmmmmmm. If that is Obama's attitude, maybe there is hope for purging oursaelves of the bankers. Uh-oh. What is that droe doing outside my window.
'Operation Paperclip'
Fed Uber Alles
I see the problem. The ungrateful greedy fucking little guy is getting too much. We need to print MOAR!
Please tell me someone is working on the scaffolding for the gallows.
It is unclear how Fed policies will benefit the middle class.
The what?
The middle class, you can learn all about it in history class.
You mean the re-written version they will come up with to feed the children in their new
common core excersizes?
Teacher: "These people did not know there place, we are so glad you know, now who was Obama again?"
Children: "The greatest president that ever lived Mrs teacher"
EDIT:
Teacher: Now lets say or morning pledge, hands on hearts.
I pledge allegiance to the Federal Reserve of the United States of Ameriku....
Very alliterative...
Preventing wear & tear on their pockets by ensuring they are always empty.
Always thinkin' of tha little guy.
Cheney and Obama just signed a no-bid contract with Haliburton to git 'er done...
Kill. Them. All.
I have no desire to be very rich. Just to work for myself and be able to save and pay my family's bills. When that no longer is doable. And fast approaching. That is going to be when they have problems.
Save what? Pieces of paper created by whim? And no, don't say shiny metal. That has no function.
You want to save? Same some farmland. Produce food. That doesn't come from thin air.
I'm saving Gold and Silver. You save all the meat you want. Let me know how it looks in 24 months.
I am in the PM camp as well. That, and, I bought a DVD of Alive..so I figure the meat part will take care of itself. When the shit hits I hope to enjoy a Brisket of Bernank with a side of Yellen latkas.
If you ever get the feeling that we might squeak through you can load in your copy of The Road to bring you back to reality.
pods
No sarc. I never heard of that book. I did a quick search and it looks like a good read. That fucking Oprah..she was a King maker I tell yah.
That's just the earnings... Never mind the assets.
Yeah ...so whats your point?
the nutsack on this grandma to talk about inflation below 2% while food and energy goes through the roof and obamaocare settles in and roasts people. Unbelievable.
You don't get to be King of the FED if you can't spin a good story. And to paraphase the great philosopher George Costanza 'its not a lie if you believe it to be true'.
We blew our chance to fix this in 2008. Don't think there are any more chances.
It was too late to fix it in 2008 as well. The time to fix the problem was in 1913.
Agreed...we are at the super nova stage of the end game.
No, you're not.
There is no end game for this money stuff. If there isn't enough money and the world is going to explode because of it, then it will be created. If debt is going to blow up the world, debt will be expunged by decree.
STOP THINKING THERE IS ANYTHING REAL GOING ON.
The only thing that is real is calories that come out of the ground and the fuel that powers the trucks that bring them to the shelves.
The rest of this shit is monetary hand waving, and make no mistake here, if you knew 1/2 the world would die because of a default, you'd prohibit that default by decree, too.
That is not what is going to take the system down. Oil is. They have no answer for oil, and they know it.
Debt is just a strategy to make sure the wealth ends up in right hands
Crash,
Could be. Peak oil, peak debt....peak Bieber. So many posions...could it be that there will be multiple causes? In the end, will it matter?
Debt is the reason why we constantly need MOAR growth.
That is what makes energy important.
Shitfuck if we had an honest, non-exponential money system you could think about things like sustainable energy.
But with the system we have now, GROWTH is the key.
Oil scarcity is merely exposing this scam.
When the debt bubble blows, you will be swimming in oil. After the blowup/jubilee, those left will sit around and wonder why they every had to work so damn hard just to get by.
Of course, most modern toys will be gone, but that might be a good thing anyways.
pods
After the war, I'll be in Cupertino offering 1 oz of gold per acre of vacant homes. Anyone want to help me replant the apricots?
Historical population chart says everything I need to know.
This is the mother of all cycles, fueled directly by cheap energy. Cheap energy holds our societies together... which are becoming more and more fragile each day. A truely frightening, perfect-storm sort of set-up.
Where we go from here is unfortunately going to be very, very ugly for a good portion of the world. YMMV depending on location and circumstances.
The energy picture on the other side of what is coming may look very different than what it is today as we measure against current standards of living through the lens of ponzi economics.
ONLY 2 ups for pods on the above? Come on folks.......opern your eyes and minds. Oil issues, like Gold, are only symptomatic of the REAL problem which is FIAT FINANCE RUN AMOK WITH THE PROTECTION OF GOVTS THE WORLD OVER.......Rehypothecations of Rehypothecations.....QE4EVA...Bailouts....Oil and Gold Futures "fixes" to attempt to prop-up the canary....etc.
No way this ends well.
But we really blew it in 1971... why didn't anyone listen to Charles De Gaulle!
Next thing to go is the U$D, and there won't be much the FED, ECB, IMF, BIS and their ilk can do about it. When a critical mass says no, it's all over, there's just 2 many dollars outside the US shores. When that happens, it'll be ugly.
When the masses say no more, they turn their billions upon billions of rounds they've been buying on the masses. The moment you say 'no more' is the moment they make you get in line at gun point.
Well, critical mass is Trillion$ OUTSIDE the US, dumping them for something else. Approaching fast IMHO, but we'll see how and when this comes to frutition.
We never had a chance, this shit was rigged in 2008 like it was decades before....this was "their" goal in the first place.
Want proof? Here...
https://www.youtube.com/watch?v=txukr5zgHnw
Stating the obvious after the fact is just so lame. Eƒƒ-ers. It bought them time, nothing more. It's still all fubar, so hedge accordingly. Good luck to all.
They've also made it too expensive for people to work.
The only appropriate response? Duh.
If that headline graphic was accurate the poor person would be in the trash bin, not just digging in it for aything of value.
Not that I approve or desire this outcome at all but let's be real, that's where this is.
Yeah but but... Hasn't it benefitted everyone else with low interest rate LOANS??? You know so they can borrow to buy new CARS and go to SCHOOOOL as well as many other depreciating assets.
Bernank told us this all the time.
So the only president since Saint Ronnie (the patron saint of the corporatist class) who didn't help the rich get quantifiably richer was, amazingly, George H.W. Bush.
No wonder he was a one-term president...
He practically engineered our whole downfall from 1963 to now and famously said his job was to get wealth to the "richer and righter." He also pointed out "the problem" was how to steal wealth without destroying it. They figured it out and you are living it, one tank at a time.
Stupid is as Stupity does!
*FISHER: UNCLEAR IF FED POLICIES WILL BENEFIT THE MIDDLE-CLASS
----------
It's unclear only if you don't want to take a look at historical data. The middle class is being demolished, and it has been for decades. Mixing a few truths into overall lies is not much different from all lies when it comes to the Fed. The data is right there in front of your stupid fucking bought-off faces.
Wealth Extraction One Tank at a Time
When gasoline is $3.65/gallon the recession will end. I bothers me all other industry folds to the Petroleum Gamesmen. Retail was EATEN by gasoline costs. Next time you are in a traffic jam think about how much money is in each tank. You're being extracted and fracked and are too stupid or drugged to do anything.
Interesting...that chart of LVMH vs M looks a lot like the income tax rate between individuals and corpoations...except in reverse.
ref bottom chart http://nationalpriorities.org/budget-basics/federal-budget-101/revenues/
Resign motherfucker you all lied to the American people!!
The central bank continues to spin QE and Zero interest rate as a tool for helping Main Street. But I've come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.
Some line from a movie... "how do I resign from this chicken shit outfit"?
https://www.youtube.com/watch?v=PzpUZBsmVpw
If the total wealth is 100% and the rich get a greater percentage of it, then inevitable somebody has lost an equal %
Why do they always act as if they don't understand simple arithmetic? As if this was a unsuspected side effect.. Duh..
PhD economists and mathematicians are hopeless at arithmetic since they rarely have to use it, and if they do they calculators or a computer...
Whatcha gonna do about it? We got you addicted to our debt, and you love us for it. Now, fuck off, bitchez. You'll take it and like it.
Yeah, that's great and all, but no one listens to Fisher. That's like posting a headline saying that Rand Paul thinks we pay too much tax...no kidding. Wake me when one of the doves at the FED starts talking like Fisher
Just another hippy commy socialist who hates Merica, and the troops.
You are just pasting that now aren't you?
Policies is a nice way of saying theft, that benefits the thief. wouldn't you all like to create credit out of thin air and charge usury interest for it
This sums it up
The Real IRS Scandal
http://brothernathanaelchannel.com/watch_video.php?v=GK6A33U52RXK
The Rothschilds, and that class of money-lenders of whom they are the representatives and agents - men who never think of lending a shilling to their next-door neighbors, for purposes of honest industry, unless upon the most ample security, and at the highest rate of interest - stand ready, at all times, to lend money in unlimited amounts to those robbers and murderers, who call themselves governments, to be expended in shooting down those who do not submit quietly to being robbed and enslaved.
Lysander Spooner
About the only benefit to the Middle Class from QE is that MOAR of the Middle Class has discovered Zerohedge....
'Change You Can Believe In!'
My guillotine will be richer.
I hope the FED's policies continue.
Full speed ahead!
I can't help but think that the Bernank is laughing to himself at being able to get out of dodge from this shitshow that he produced. Those $250k speaking fees sure add up, don't they Bennie?
And no media person will press the executive branch for an answer to why the executive branch has supported the grandest trickle down policy execution in the history of the world. Why?
Because ALL of them, media, repubs, dems, the sheople, etc... bought the trickle upon fantasy back in the 80's and have carried the torch ever since. They will not look at the sacred cow as any part of the problem. It's immigrants, welfare cheats, communists, gays, (insert usual wingnut hated person or ideology here) etc... It cannot possibly be their beloved trickle upon economic beliefs.
The Federal Reseve heads might make god shark food, On second thought, the sharks would probably get sick and die off of such vile organic material.
And Yellen said in her speech she would prefer higher inflation vs. lower inflation. But she worries about the labor market. Does she even know what someone is going thru who is under employed let alone unemployed who has to pay more for everything. These people must be from another planet.
It's not just Fed policies, but government policies too. This has been going on since at least the Reagan revolution. The long term results are just coming to fruition.
The entertainment slaves could care less. As long as the iphone, and credit cards work their in their own secure world. No need to vote, know who their Reps. are or understand what's going on around them or the world. Lambs to the slaughter soon!
ZH ! Insensitive Bastards! Not off topic!!! How DARE you Ty, not pay homage to the greatest minds, those whom've started life for you, me, and everyone else on this woebegone haphazard conspiracy site! For Shame:
Happy 25th birthday, CNBC!
Bob Pisani | @BobPisani
39 Mins Ago
CNBC.com
/vs (Vommit Sarc)
COMMENTSStart the Discussion
first, fuck fisher! dual citizen trojan(scumbag and horse and malware).
the fed is not the tool of the middle class. the middle class is the tool of the fed reserve. i didn't know that was a secret and fisher is just ignorant to brag about. the usual chuztpah as in, what are you gonna do about it, you dumb goyim?
*FISHER SAYS FED POLICIES HAVE MADE THE RICH 'MUCH RICHER' (but...)
*FISHER: UNCLEAR IF FED POLICIES WILL BENEFIT THE MIDDLE-CLASS
Actually, it is very clear that FED policies are not and will not benefit the middle class. The FED policy is for the benefit of their constituents, which are not middle class.
If you like your QE you can keep your QE.
RE
It benefits the current middle class, who owns assets. The Baby boomers yet again bearing the fruit of govt+Fed policy.
For the future middle class? It doesn't...because THERE IS NO FUTURE MIDDLE CLASS for the Millennial generation.
Pretty retarded. Just by mathematics, the rich are always likely to accumulate more because one only needs so much for neccessities. The rest can go for investment.
The poor always has less for investment since all there income goes for neccessities.
Good times or bad times, the rich are always gaining more in wealth. Of course what the FRB and Government policies do is make it harder for the poor to break out of poverty. But the rich would get richer without the FRB.
EX: One guy has 10 million in cash. He buys 10 million in bonds paying 1% (.01). Well he clears 100k each year just on that before taxes.
Compare that to a wage earner making 50k each year. He's got his mortgage, car payment and all his other bills and then taxes. It would take him decades to accumulate enough investment to live just on interest like the other guy who can just sit on his ass if he wants to.