• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

"Fed Policies Have Made The Rich Much Richer", Fed President Admits

Tyler Durden's picture




 

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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Wed, 04/16/2014 - 14:33 | 4666079 Duc888
Duc888's picture

 

 

Mission Accomplished.

Wed, 04/16/2014 - 14:38 | 4666103 TruthInSunshine
TruthInSunshine's picture

"If you like feeding your kids edible food-like substances, you can keep feeding them edible food-like substances."

--William F. Dudley

Wed, 04/16/2014 - 14:40 | 4666110 Iriestx
Iriestx's picture

Beef may be at an all time high, but "genuine, artificially flavored meat product" has never been cheaper!  HOPE and CHANGE!

Wed, 04/16/2014 - 14:43 | 4666133 TruthInSunshine
TruthInSunshine's picture

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).

Wed, 04/16/2014 - 14:44 | 4666147 Dr. Engali
Dr. Engali's picture

He would say you're Fucked up in the head.

Wed, 04/16/2014 - 14:54 | 4666166 TruthInSunshine
TruthInSunshine's picture

"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.

Wed, 04/16/2014 - 14:54 | 4666193 Anusocracy
Anusocracy's picture

Government actions have ALWAYS been about benefiting the control freak dominants in society.

Wed, 04/16/2014 - 15:32 | 4666381 Ying-Yang
Ying-Yang's picture

"Yellen is for the little guy..."

No way, little guys would get sucked inside, yellen all the way in.

Wed, 04/16/2014 - 15:35 | 4666391 Bay of Pigs
Bay of Pigs's picture

Isnt is about time for Mr. Bowl Cut to unleash the hounds? (open the QE spigots again).

Wed, 04/16/2014 - 15:52 | 4666466 Manthong
Manthong's picture

“just like the Herp,”

I do not understand .. is that like a virus  that spreads through close contact?

Wed, 04/16/2014 - 16:12 | 4666559 sodbuster
sodbuster's picture

So after 5 years, these clueless basards are still wondering if their policies will benefit the middle class?

Wed, 04/16/2014 - 16:16 | 4666579 Rubbish
Rubbish's picture

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 !

Wed, 04/16/2014 - 16:19 | 4666596 new game
new game's picture

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...

Wed, 04/16/2014 - 17:18 | 4666816 Manthong
Manthong's picture

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.

 

Wed, 04/16/2014 - 15:02 | 4666235 Ban KKiller
Ban KKiller's picture

"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...

Wed, 04/16/2014 - 15:03 | 4666243 Ban KKiller
Ban KKiller's picture

AND Edward G Robinson's last role. 

Wed, 04/16/2014 - 17:26 | 4666856 Manthong
Manthong's picture

..enjoy the strawberries while you can.

..and maybe that young woman property thing will see a comeback as .gov moosies us up. 

Wed, 04/16/2014 - 16:39 | 4666692 pigs-n-space
pigs-n-space's picture

Not to far from the truth......

Wed, 04/16/2014 - 14:49 | 4666171 Oh regional Indian
Oh regional Indian's picture

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...

Wed, 04/16/2014 - 16:23 | 4666618 ArkansasAngie
ArkansasAngie's picture

And poor poor Ben doesn't understand why us peons don't appreciate him.

 

Screw'em

Wed, 04/16/2014 - 17:35 | 4666887 Manthong
Manthong's picture

..but some of us have investments and personal ownership or knowlege of below lake leved stuff at low atomic weights.

Wed, 04/16/2014 - 17:57 | 4666912 Manthong
Manthong's picture

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). 

Thu, 04/17/2014 - 05:24 | 4668621 Oh regional Indian
Oh regional Indian's picture

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.

 

Wed, 04/16/2014 - 14:52 | 4666185 power steering
power steering's picture

As long as Jamie's bonus is secure. That's all that matters to us and to our advisers at CNBC.

Wed, 04/16/2014 - 15:00 | 4666229 usednabused
usednabused's picture

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.

Wed, 04/16/2014 - 16:21 | 4666613 Herd Redirectio...
Herd Redirection Committee's picture

The real discrepancy is in WEALTH INEQUALITY, any way.  Not INCOME inequality.

Wed, 04/16/2014 - 14:47 | 4666163 NotApplicable
NotApplicable's picture

That you secretly admire Bill Buckley?

Wed, 04/16/2014 - 14:48 | 4666164 CrashisOptimistic
CrashisOptimistic's picture

He would say Buckley.

Wed, 04/16/2014 - 14:49 | 4666172 usednabused
usednabused's picture

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?

Wed, 04/16/2014 - 14:42 | 4666126 Dr. Engali
Dr. Engali's picture

Moar sawdust in the pink slime please.

Wed, 04/16/2014 - 14:38 | 4666105 lordylord
lordylord's picture

Transfer of wealth and power from the people to the State is their goal.  Mission accomplished indeed.

Wed, 04/16/2014 - 14:42 | 4666127 lordylord
lordylord's picture

WHERE ARE ALL THE KEYNESIAN STATIST ASSHOLES???  COME OUT AND DEFEND CENTRAL PLANNING AND DEFEND YOURSELVES! 

Wed, 04/16/2014 - 14:52 | 4666182 free_lunch
free_lunch's picture

Central is the root of all EVIL

Wed, 04/16/2014 - 15:34 | 4666392 NotApplicable
NotApplicable's picture

Fully embodied in the disease of statism.

Wed, 04/16/2014 - 14:57 | 4666213 Iriestx
Iriestx's picture

Defend what?  This was the plan all along.

Wed, 04/16/2014 - 15:41 | 4666425 lordylord
lordylord's picture

I was referring to people who continually vote and give more central planning authority to governments (e.g., RINOs and Libtards in the US),

Wed, 04/16/2014 - 14:43 | 4666136 Greenskeeper_Carl
Greenskeeper_Carl's picture

In other news, water is wet.

Wed, 04/16/2014 - 15:17 | 4666313 MeelionDollerBogus
MeelionDollerBogus's picture

in other, other news, new pope receives honorary cheese.

Wed, 04/16/2014 - 15:23 | 4666345 TruthInSunshine
TruthInSunshine's picture

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

Wed, 04/16/2014 - 17:01 | 4666777 NotApplicable
NotApplicable's picture

Don't send a merc to do a drone's job.

Wed, 04/16/2014 - 14:53 | 4666186 drendebe10
drendebe10's picture

.... 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.... 

Wed, 04/16/2014 - 14:33 | 4666083 Drifter
Drifter's picture

That was the plan all along.

Wed, 04/16/2014 - 14:34 | 4666089 Bunga Bunga
Bunga Bunga's picture

What's your problem 99%? You got the food bank.

Wed, 04/16/2014 - 14:35 | 4666093 Budd aka Sidewinder
Budd aka Sidewinder's picture

Chock full of juicy iPads

Wed, 04/16/2014 - 14:35 | 4666091 Budd aka Sidewinder
Budd aka Sidewinder's picture

If you like your wealth you can keep you didn't build your wealth

Wed, 04/16/2014 - 14:35 | 4666092 Grande Tetons
Grande Tetons's picture

Bullish Grey Poupon and Spam. 

 

Wed, 04/16/2014 - 16:58 | 4666762 kurt
kurt's picture

My Weiner Tastes Better with Poupon!

Wed, 04/16/2014 - 14:42 | 4666095 LawsofPhysics
LawsofPhysics's picture

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)

Wed, 04/16/2014 - 14:54 | 4666197 WTFx10
WTFx10's picture

Tsk,Tsk,Tsk if you execute them you'll be accused of being labeled another Hitler.

Wed, 04/16/2014 - 15:11 | 4666281 ChanceIs
ChanceIs's picture

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.

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