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"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.

Wed, 04/16/2014 - 15:25 | 4666355 SheepDog-One
SheepDog-One's picture

'Operation Paperclip'

Wed, 04/16/2014 - 14:36 | 4666097 DetectiveStern
DetectiveStern's picture

Fed Uber Alles

Wed, 04/16/2014 - 14:40 | 4666108 Dr. Engali
Dr. Engali's picture

I see the problem. The ungrateful greedy fucking little guy is getting too much. We need to print MOAR!

Wed, 04/16/2014 - 14:40 | 4666117 Cursive
Cursive's picture

Please tell me someone is working on the scaffolding for the gallows.

Wed, 04/16/2014 - 14:44 | 4666139 NotApplicable
NotApplicable's picture

It is unclear how Fed policies will benefit the middle class.

Wed, 04/16/2014 - 14:49 | 4666173 ZerOhead
ZerOhead's picture

The what?

Wed, 04/16/2014 - 14:54 | 4666189 free_lunch
free_lunch's picture

The middle class, you can learn all about it in history class.

Wed, 04/16/2014 - 17:28 | 4666818 imbrbing
imbrbing's picture

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....

Wed, 04/16/2014 - 17:59 | 4666982 ILLILLILLI
ILLILLILLI's picture

Very alliterative...

Wed, 04/16/2014 - 15:09 | 4666280 MeelionDollerBogus
MeelionDollerBogus's picture

Preventing wear & tear on their pockets by ensuring they are always empty.

Always thinkin' of tha little guy.

Wed, 04/16/2014 - 14:51 | 4666168 ZerOhead
ZerOhead's picture

Cheney and Obama just signed a no-bid contract with Haliburton to git 'er done...

Wed, 04/16/2014 - 14:41 | 4666122 alien-IQ
alien-IQ's picture

Kill. Them. All.

Wed, 04/16/2014 - 14:42 | 4666123 Seasmoke
Seasmoke's picture

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.

Wed, 04/16/2014 - 14:50 | 4666177 CrashisOptimistic
CrashisOptimistic's picture

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.

Wed, 04/16/2014 - 14:54 | 4666192 Seasmoke
Seasmoke's picture

I'm saving Gold and Silver. You save all the meat you want. Let me know how it looks in 24 months.

Wed, 04/16/2014 - 14:57 | 4666215 Grande Tetons
Grande Tetons's picture

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.

Wed, 04/16/2014 - 15:35 | 4666394 pods
pods's picture

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

Wed, 04/16/2014 - 15:58 | 4666489 Grande Tetons
Grande Tetons's picture

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. 

Wed, 04/16/2014 - 14:42 | 4666128 Minburi
Minburi's picture

That's just the earnings... Never mind the assets.

Wed, 04/16/2014 - 14:44 | 4666140 Itchy and Scratchy
Itchy and Scratchy's picture

Yeah ...so whats your point?

Wed, 04/16/2014 - 14:44 | 4666143 fonzannoon
fonzannoon's picture

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.

Wed, 04/16/2014 - 16:19 | 4666595 Al Huxley
Al Huxley's picture

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'.

Wed, 04/16/2014 - 14:44 | 4666144 Seasmoke
Seasmoke's picture

We blew our chance to fix this in 2008. Don't think there are any more chances.

Wed, 04/16/2014 - 14:49 | 4666162 Grande Tetons
Grande Tetons's picture

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. 

Wed, 04/16/2014 - 14:53 | 4666187 CrashisOptimistic
CrashisOptimistic's picture

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.

Wed, 04/16/2014 - 14:55 | 4666207 free_lunch
free_lunch's picture

Debt is just a strategy to make sure the wealth ends up in right hands

Wed, 04/16/2014 - 15:06 | 4666260 Grande Tetons
Grande Tetons's picture

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? 

Wed, 04/16/2014 - 15:39 | 4666415 pods
pods's picture

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

Wed, 04/16/2014 - 16:04 | 4666509 aphlaque_duck
aphlaque_duck's picture

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?

Wed, 04/16/2014 - 16:05 | 4666516 centerline
centerline's picture

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.

 

Wed, 04/16/2014 - 17:18 | 4666824 Imagery
Imagery's picture

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.

Wed, 04/16/2014 - 14:55 | 4666205 RaiZH
RaiZH's picture

But we really blew it in 1971... why didn't anyone listen to Charles De Gaulle! 

Wed, 04/16/2014 - 14:48 | 4666169 CHX
CHX's picture

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.

Wed, 04/16/2014 - 14:59 | 4666223 Iriestx
Iriestx's picture

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.

Wed, 04/16/2014 - 15:02 | 4666238 CHX
CHX's picture

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.

Wed, 04/16/2014 - 15:26 | 4666337 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

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

Wed, 04/16/2014 - 14:44 | 4666145 CHX
CHX's picture

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.

Wed, 04/16/2014 - 14:45 | 4666149 q99x2
q99x2's picture

They've also made it too expensive for people to work.

Wed, 04/16/2014 - 14:45 | 4666154 NYPoke
NYPoke's picture

The only appropriate response? Duh.

Wed, 04/16/2014 - 14:45 | 4666155 MeelionDollerBogus
MeelionDollerBogus's picture

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.

Wed, 04/16/2014 - 14:47 | 4666158 tickhound
tickhound's picture

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.

Wed, 04/16/2014 - 14:48 | 4666167 Tsar Pointless
Tsar Pointless's picture

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...

Wed, 04/16/2014 - 15:37 | 4666402 kurt
kurt's picture

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.

Wed, 04/16/2014 - 14:50 | 4666178 venturen
venturen's picture

Stupid is as Stupity does!

Wed, 04/16/2014 - 14:52 | 4666183 MrBoompi
MrBoompi's picture

*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.

Wed, 04/16/2014 - 15:32 | 4666384 kurt
kurt's picture

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.

Wed, 04/16/2014 - 14:53 | 4666188 Xibalba
Xibalba's picture

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/

Wed, 04/16/2014 - 14:54 | 4666199 MFL8240
MFL8240's picture

Resign motherfucker you all lied to the American people!!

Wed, 04/16/2014 - 14:57 | 4666211 Bill of Rights
Bill of Rights's picture

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.

Wed, 04/16/2014 - 14:57 | 4666214 Ban KKiller
Ban KKiller's picture

Some line from a movie... "how do I resign from this chicken shit outfit"?

Wed, 04/16/2014 - 15:26 | 4666245 free_lunch
free_lunch's picture
  • *FISHER SAYS FED POLICIES HAVE MADE THE RICH 'MUCH RICHER' (but...)
  • *FISHER: UNCLEAR IF FED POLICIES WILL BENEFIT THE MIDDLE-CLASS

 

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..

Wed, 04/16/2014 - 15:45 | 4666439 The man with po...
The man with pointy horns's picture

PhD economists and mathematicians are hopeless at arithmetic since they rarely have to use it, and if they do they calculators or a computer...

Wed, 04/16/2014 - 15:09 | 4666277 Freewheelin Franklin
Freewheelin Franklin's picture

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.

Wed, 04/16/2014 - 15:09 | 4666282 giorgioorwell
giorgioorwell's picture

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

Wed, 04/16/2014 - 15:11 | 4666286 NOTaREALmerican
NOTaREALmerican's picture

Just another hippy commy socialist who hates Merica, and the troops. 

Wed, 04/16/2014 - 15:16 | 4666310 Grande Tetons
Grande Tetons's picture

You are just pasting that now aren't you?  

Wed, 04/16/2014 - 15:23 | 4666330 jjsilver
jjsilver's picture

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

Wed, 04/16/2014 - 15:32 | 4666376 free_lunch
free_lunch's picture

I’m tired of hearing about subprime mortgages.

It’s as if these things were living entities that had spawned an epidemic of economic pornography.

Subprime mortgages are as much a cause of the current financial chaos as bullets were for the death of JFK.
 
Someone planned the assassination and someone pulled the trigger.
 
The media, J. Edgar Hoover and the Warren Commission tried to push Lee Harvey Oswald off on the American public. They didn’t buy it.
 
They shouldn’t buy subprime mortgages either.
 
Someone planned the assassination and someone pulled the trigger.
 
Only this time the target is the international financial structure and the bullets are still being fired.
 
Oh yes, people took out adjustable-rate mortgages they could ill afford, that were then sold to Wall Street bankers. The bankers bundled them up like gift wrappers at Nordstrom’s during the Holidays and sold them to other banks after raking off billions in fees. The fees?  They were for…well…they were for wrapping the mortgages in the haute couture of Wall Street.
 
But it didn’t start there. No, no, not by a long shot.
 
And as the late, great Paul Harvey would say, “And now you’re going to hear the Rest of the Story.”
 
Are subprime mortgages part of some larger agenda?
 
And if so, what is it?
 
Stay with me here, because Alice is about to slide down the rabbit hole into the looking-glass world of international finance.....

Moar: http://www.canadafreepress.com/index.php/article/9454
                              

Wed, 04/16/2014 - 15:44 | 4666434 NoWayJose
NoWayJose's picture

About the only benefit to the Middle Class from QE is that MOAR of the Middle Class has discovered Zerohedge....

Wed, 04/16/2014 - 15:52 | 4666465 Itchy and Scratchy
Itchy and Scratchy's picture

'Change You Can Believe In!'

Wed, 04/16/2014 - 16:05 | 4666523 kchrisc
kchrisc's picture

My guillotine will be richer.

Wed, 04/16/2014 - 16:11 | 4666553 Chuck Knoblauch
Chuck Knoblauch's picture

I hope the FED's policies continue.

Full speed ahead!

Wed, 04/16/2014 - 16:11 | 4666554 Surging Chaos
Surging Chaos's picture

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?

Wed, 04/16/2014 - 16:18 | 4666592 TrustWho
TrustWho's picture

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?

Wed, 04/16/2014 - 16:34 | 4666676 GeorgeHayduke
GeorgeHayduke's picture

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.

Wed, 04/16/2014 - 16:19 | 4666602 yogibear
yogibear's picture

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.

 

Wed, 04/16/2014 - 16:25 | 4666636 Heyyouguys
Heyyouguys's picture

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.

Wed, 04/16/2014 - 16:28 | 4666642 GeorgeHayduke
GeorgeHayduke's picture

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.

Wed, 04/16/2014 - 16:35 | 4666681 snakedogs
snakedogs's picture

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!

Wed, 04/16/2014 - 16:44 | 4666706 bdub2
bdub2's picture

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

Wed, 04/16/2014 - 17:00 | 4666773 besnook
besnook's picture

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?

Wed, 04/16/2014 - 17:55 | 4666950 moneybots
moneybots's picture

*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.

 


 

Wed, 04/16/2014 - 22:25 | 4667989 NoelConfidence
NoelConfidence's picture

If you like your QE you can keep your QE.

Wed, 04/16/2014 - 23:13 | 4668108 Shizzmoney
Shizzmoney's picture

RE

FISHER: UNCLEAR IF FED POLICIES WILL BENEFIT THE MIDDLE-CLASS

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.

Wed, 04/16/2014 - 23:16 | 4668115 sessinpo
sessinpo's picture

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.

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