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Why The Fed Doesn't Care About The Poorest Half Of Americans (In 1 Simple Chart)
Despite her platitudes to the unemployed (here) and the poor (here), it is clear Janet Yellen's Federal Reserve policies are aimed squarely at only one segment of the US population - the wealthy. The reason is simple... with an economy built on the back of conspicuous consumption, it's only the top quintiles of the population's income earners that spend-spend-spend to keep the dream alive. What's good for the 'wealthy' is good for America, right?
The top 20% of income earners account for 40% of all consumer spending (and the top 40% of earners account for 60% of the spending)... so why waste time 'helping' the lower quintiles...
Don't forget, Bernanke told us, it's for Main Street...
- BERNANKE: FED ACTIONS DIDN'T FAVOR WALL STREET OVER MAIN STREET
- Bernanke Says US Economy Is Heading Towards Complete Recovery
Just don't tell Obama (or the Democrats who have been told not to mention the 'recovery'), or the record number of middle-aged people living with their parents, or the almost imperceptible rise in the employed population since QE began...
Source: Morgan Stanley
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And here I thought it was going to be something to do with low levels of gun ownership and an inability to read maps properly...
no, they dont make any profits if they dont have gun sales...
if the poor dont buy anything, the rich get poorer..
and if the poor dont work, the rich get poorer...
and if the poor dont fight the wars...
thanks for the heads up, Ms.Yellen
MOTHERF&%KER!!!! All this time we were supposed to be applying "trickle-DOWN" economics, not "trickle-UP". No wonder this shit isn't working right.
I think the trickle down theory is specifically designed to allow just enough to trickle to allow the masses to continue to produce the things those at the top continue to need.
Title of the Article:
Why The Fed Doesn't Care About The Poorest….
The right Title (and article):
The Fed CAN NOT help the America poor to live way beyond their means anymore, because the financial Ponzi scheme they created can NO longer cover these many people.
So, they focus on the core: Making sure the government, financial institutions, military, the basic infrastructures, and so on still have money to function.
"still have money to function."
How nieve of you. I upvoted you because most of your post was dead on but seeing as how they don't quite function properly now with full funding, that last bit should read "still have money to waste and/or enrich themselves."
Enrich Themselves? Off course.
But look it at this way: They will be the least prepared
doublepost
If you think the poor are spending above their means, wait until you see what happens to the "rich" when the rest of the tide goes out. End the Fed, it should not be helping ANYONE.
The rich is mainly rich because of the government, foreign looting, and TV (bread and circuses).
Otherwise, the masses would have figured it out already.
By the way, wouldn't surprise me at all if, say, about 20% of the working force (30 million people) that is directly working for the elites in government, in education, in the military, as contractors, and so on are totally unaware of these issues, unless they come to websites, such as Zero Hedge.
Then, even after being exposed to these facts, these 20% still in denial. Don’t want to hear. And don’t think they need to preparer.
How do I know these to be facts?
I live in DC. Try to have this type of conversation around here. You will be talking to yourself.
One would think, by this time, that there would be a published list of the street addresses, phone numbers, and general day-to-day routes of each of the Forbes 500, along with similar for every single Senator, Representative, and Supreme Court Justice by anonymous or some other group. Said list would be simply an innocent public domain document that allows people to avoid such undesirables...kinda like the on-line pedophile maps.
I don't know how to do this or I would present it. But there are people out there that do know how. The fact that such a map isn't public is a testiment to the 'fight' we have in us.
"The fact that such a map isn't public is a testiment to the 'fight' we have in us."
The fact that such a map isn't public is a testiment to who is really behind anonymous.
There, fixed it for ya.
Yeah, but there's other groups other than Anonymous. Surely some kid in the Tea Party, or Commie Party, has this sort of skill set.
If you go to all the trouble to make such a list, you don't make it common knowledge. The targets might get spooked and change their patterns.
Though tragic, it is also comical that these elite idiots think they can hold deflation off when the masses can't buy things. I mean really, how much can the elite 1% wear, eat, drive or live in?
What's, you don't have a 32 car garage or 300 pair of shoes? What the fucks wrong with you, you damn peasant?
Yeah! Everybody needs to get their bitch ass out and buy one of these robot couches to support the economy.
http://www.cnet.com/news/robot-couch-can-drive-you-to-the-fridge-and-back/#!
Lol... When I was in college, I had a roommate who was so damn lazy that when he couldn't find the remote to the teevee he pulled the couch up within arm's reach so he could change the channel. That robotic couch would be perfect for that lazy fuck. Obama would have to pay for it though, the bastard didn't pay his bills and stiffed me for his share of the rent.
The poor are poor because they're obese, right?
Or is it, the obese are obese because they're poor?
I forget.
LoL, 32 and 300, as ridiculous as that is, isn't squat compared to what the masses buy.
I wonder if my wife has exceeded 300 pairs of shoes yet.
How can you tell me that kindly gentle grandmother doesn't care about me? Here, have a cookie Tyler and soon you'll be right as rain.
Democrats taking care of the "folks".
You're more right than you may know. The Federal Government can easily fill the hole left by the lack of spending by the bottom 1/2-2/3 of the population (and more Treasuries on the market would be a godsend for the Fed when they eventually crank up QE5).
OK tbond investors, keep it hedged and watch the whipsaws. The big banks, big corps, big sovereigns AND the fed holding tons of treasuries. My spidey senses tell me something is up. Lean bullish, just not too far.
I got a letter today from Fidelity saying I will have to liquidate all ETF and ETN positions from my 401K self-directed account. There goes leverage, like NUGT and DGP.
Nothing like being forced to sell at the bottom. This is not a coincidence.
Tangible silver and gold are pretty cheap right now. The stuff's portable and you can hide it.
Dude, I gave up on Fidelity when they tried to sell me a commercial real estate fund. You're a muppet.
I had a partner like that once.
We fixed beaters at the shop, and sold them for cash. I'll never forget selling one for $1000.00 cash. 50/50 arraignment.
That motherfucker counted out $400.00, slid it to me, and said "here's your half". But it was ok, we were related.
I hope you charged a couple hundred dollars of stuff on his credit card. Karma is fun, even if you have to help it along...
Seems to me, in the not too distant past, before financialization , automation and off shoring; at least the wealthy had to sit atop a productive organization to aquire and maintain wealth.
Now all it requires is to be plugged into .gov at SOME level.
And, oh yeah, be part of the bread and circus delivery crew.
and the best part is all these plugged into the .gov will do their best to assure everyone else Communism/Socialism is evil and bad.
It's socialism for the 1%, while the 99% must fend for themselves in a supposedly "free market."
America's present state is a logical consequence of capitalism having run its course unfettered. I never understood how the people there could actually believe in the notion that capitalism is "the best for everyone". It is the best for the 1%, and the 1% alone.
This fact would be morally questionable even if it somehow were neutral to the remaining 99%. Yet it is not: Capitalism works explictly against the interests of the 99%. It has taken 6 years of crisis to begin to make this visible to the average American.
The question now is: What will they choose to do about it?
The crisis wasn't caused by capitalism or free markets but the lack thereof. The 1% have never been free market capitalist, but rather have used the power of government to eliminate their competition. Anybody who thinks the FED and their market rigging operations is an example of free market capitalism needs to have their head examined.
"Competition is a sin." - John D. Rockefeller
Note that the post you are responding to did not use the words capitalism AND free markets interchangeably. Combining these two concepts into one mythical ideology seems to be a common occurance here on ZH and most other right-leaning websites. These folks equate capitalism with free markets and put them in the emotionally-based part of their brain, right there with apple pie and the flag. The propaganda of the owners over their peons has been thorough for decades and has worked quite well.
They are interdependant. You can't have capitalism without free markets, and vice versa. As soon as you have someone picking winners and losers you cease to have free markets and capitalism.
The capitalist pick and choose the winners. The example of Nikola Tesla and Tucker have shown that only profits and control of the markets are the mainstay of the capitalist system. Add in planned obsolescence and you see another difference between free markets and capitalism.
Regardless, I've conclude from my life's observation, that both of these terms are so filled with myth and emotionally charged idealism that is so disconnected from reality that they are essentially useless. Both terms have taken on a religious mythos making discussion or critiques of either capitalism or free markets, as defined in mainstream culture, nearly impossible to any of its true believers.
uh, doesn't the top chart show 70% of the spending by the top and 4th quintile?
with 1 - 3 stopping at 30%
?
No....it must be your warped iPhone6 screen
Well I gotta agree with Bernanke there:
The US is headed for a full recovery, he's never been wrong.
The Plan is to Bomb every country on the Planet back to the stone age, leaving only the USA, so there won't be anybody else to compare to.
That is a plan.
Not saying it's a good plan. Just saying.
One look at Europe says "our recovery should be worse."
Obviously Japan has Fukushima as well.
I've changed the lyrics to "how cheap is your love"...
"The Plan is to Bomb every country on the Planet back to the stone age, leaving only the USA, so there won't be anybody else to compare to."
The problem is that Russia has bigger bombs than the US.
Away from th SALT agreement the Soviets probably stored away a few newer TSAR bombs that will create a huge crater in Washington DC.
The largest nuclear weapon ever: Tsar Bomba 50 megatons of TNT.
https://www.youtube.com/watch?v=XrwK-zS2HZ8
I take it we are supposed to be worried and concerned about the prospect of Russia or ISIS taking out Washington, DC? I really wouldn't be so worried if they also took out New York, Chicago, Detroit, Los Angeles and Miami. Just saying. But then, I'm in one of those disrespected fly-over states.
Ya'll wealth envy fools, understand wealth is like the sunshine. You can sit inside and bitch about the people outside or go get some of yer own.
Tears (not).
EAT THE RICH
There aren't enough rich people around to feed all the hungry of the world.
There is enough wealth standing idle on rich people's back accounts to instantly lift countless people out of poverty though, giving them a chance at an education and basic standards of living. This would be great news both for the economy and for society in general. That's where the case for redistribution comes in.
A couple of points.
In your brilliant scenario you fail to recognize value. You cannot, much as you wish, place arbitrary value on something. When you dilute something do you get more or less? Let me put it in terms you'll get. If you steal money from someone else and give it to others that did not earn it on a massive level prices will adjust accordingly and the results would be everyone poor accept those doing the redistribution I mean stealing. Awesome, we're all poor except an even tinier class at the top.
I'm being way to nice. This kind of idiocy should be stamped out where ever it is found.
"Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another". Milton Fridman
Must be why the psychopaths were so determined to get rid of Gadaffi. He gave the Libyan population free health care, education, housing. Couldn't give the plebs elsewhere get any ideas. Much more important that Rothschild and co add a few more trillion to their respective piles.
Shoot thieves.
HANG FLUNKIES
That would be you. Sad part is you do not recognize YOU are a tool of the very powerful that want to slam the door on the rest of us. Class envy is a tool of the very, very powerful. An age old tool at that. And it always works. It makes the invisible elite even more powerful. It's a way to get you to go along with even more centralization of power. I have no tolerance for this kind of ignorance.
I'm starting to think zeroshit is part of the Problem-Reaction-Solution and a hole lot of intellectual bullshit.
As much as I would like to agree at times, there is no other single source to discover what is really going on. You do have to filter the new fear mongering ZH has evolved towards though, yes.
Slavery.
Here is the solution......
Open up the forest service lands and BLM back to sustainable commodity production...........
In 15 years the democratic party will have private sector unions again.....
Here is why:
1) the labor force has been forced into poverty/ disability/ retirement/
2) The newly expanding businesses will need an apprentice program to feed their needs for labor and cannot afford to do this on their own.
3) The democrats have to tell the elitist fuking enviros to take a hike and in 15 years the workers will be doing well again....
4) Everybody is so short sighted that nobody can see the forest.......
Get your shit together america and get back to producing ALL commodities, not just the ones that are politically acceptable at the time....
The democraTIC PARTY IS THE BIGGEST ENEMY OF THE BLUE-COLLAR MIDDLE CLASS THAT EVER EXISTED!!!!!!!!!!!!!!!!!!!!!!!!
All they pander to is extreme environmentalism and college professors et all.....
They no longer give a shit about the working man................
It is easy----- get rid of the fuking crazy enviros and things will be better than anybody ever dreamed.............
Do you guys think I am right?????????????
I want to know so I can run for idiot in charge...........
"They no longer give a shit about the working man................"
Um, they never did. Not even remotely.
Open up the forest service lands and BLM back to sustainable commodity production...........
In 15 years the democratic party will have private sector unions again.....
Here is why:
1) the labor force has been forced into poverty/ disability/ retirement/
2) The newly expanding businesses will need an apprentice program to feed their needs for labor and cannot afford to do this on their own.
3) The democrats have to tell the elitist fuking enviros to take a hike and in 15 years the workers will be doing well again.... [these ARE the democrats]
4) Everybody is so short sighted that nobody can see the forest.......
Get your shit together america and get back to producing ALL commodities, not just the ones that are politically acceptable at the time....
The democraTIC PARTY IS THE BIGGEST ENEMY OF THE BLUE-COLLAR MIDDLE CLASS THAT EVER EXISTED!!!!!!!!!!!!!!!!!!!!!!!! [agreed]
All they pander to is extreme environmentalism and college professors et all.....[Ie: democrats]
They no longer give a shit about the working man................
It is easy----- get rid of the fuking crazy enviros and things will be better than anybody ever dreamed.............[again,these ARE the democrats, you want them to get rid of their own party?]
While I agree, things have been fuckd up for a while now, your points/ideas don't make alot of sense.
So, I'm not voting for you to be "idiot in charge".. oh wait, maybe this was a joke??
The only way out is to get smarter .
See http://andreswhy.blogspot.com/2014/09/prodigies-update-i.html
"The fed doesn't about the poorest half of Americans". There were cries after Katerina, sorry I forgot the cites, Bush doesn't care about the Blacks. What are we (including the Katerina Blacks) somebody's pets? I am enraged and insulted beyond description that I need anyone to care about me, just get the f*** out of my way. The arrogant presupposition is enraging: I am someone's pet, and need to be cared for - F**k Y*u.
"The fed doesn't about the poorest half of Americans". There were cries after Katerina, sorry I forgot the cites, Bush doesn't care about the Blacks. What are we (including the Katerina Blacks) somebody's pets? I am enraged and insulted beyond description that I need anyone to care about me, just get the f*** out of my way. The arrogant presupposition is enraging: I am someone's pet, and need to be cared for - F**k Y*u.
"The fed doesn't about the poorest half of Americans". There were cries after Katerina, sorry I forgot the cites, Bush doesn't care about the Blacks. What are we (including the Katerina Blacks) somebody's pets? I am enraged and insulted beyond description that I need anyone to care about me, just get the f*** out of my way. The arrogant presupposition is enraging: I am someone's pet, and need to be cared for - F**k Y*u.
"The fed doesn't about the poorest half of Americans". There were cries after Katerina, sorry I forgot the cites, Bush doesn't care about the Blacks. What are we (including the Katerina Blacks) somebody's pets? I am enraged and insulted beyond description that I need anyone to care about me, just get the f*** out of my way. The arrogant presupposition is enraging: I am someone's pet, and need to be cared for - F**k Y*u.
+100
The FedRes does one thing and only one thing, steal.
They care as much as any thief can or will.
An American, not US subject.
"Guillotine the Fed!"
The Fed is an ideal corporation - it maximizes return for its shareholders, the large banks and ruling families.
With respect, but so does the mafia.
An American, not US subject.
Sorry about the repetition, I do not post often.
Sorry about the repetition, I do not post often.
Inflate to infinity. Deflation is the wolfs bane of the Fed. They can't tax a realized gain when prices fall. And it leads to default. A massive default that will send the world into chaos. So they must inflate or the debt will swallow everything. They believe that they can control it when it really starts to roll. But guess what folks, we will likely not see run away inflation. Our economy/means of production is sructurally broken. The velocity of money is at record lows. They are trying really hard to inflate and it's just not happening, at least not at the rate they would like to see. As they get more and more desperate they will inject cash directly into the economy (a check) and when that doesn't work because people save it or pay down debt the tool box will be empty. By this point dollar acceptance will begin to falter. It will end in a deflationary spiral followed by a very long, deep depression.
So no, the Fed doesn't care about the lower class, middle class or upper class. Period. They don't care that we have seen 30-40% food inflation. The much larger spectre is of course default and everthing that it entails. Very ugly for the world and extremely ugly for the US.
If you think the Fed is responsible for your level of income you will never understand what has taken place or what is to come until you are being fed grool by pissed off Government troops. Or perhaps the split second you realize a full metal jacketed projectile has pierced your body while rioting. I hate class envy articles like this, it completely misses the point.
Here's an anagram to solve: RUPE OOPP. In plain Anglais, the Federales are using every device known to keep this rubber band glue clothespin economy going so that no one will have to suffer the last part of this economic meal: just desserts! The rich via the stock market are getting money because if the gov gave it to the poor, inflation would take off like a Orville and Wilbur's plane with a JATO rocket attached.
Pure poop. Rope po' up
ha pension good job
Beacause the 'poorest half' doesnt pay taxes, therefore are useless eaters/voters- draining the "economy". I kinda have to side with the fed on this one...well, lemmy go read the article first. But really, the title is kinda obvious.