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Bottom line is the quantitative easing the FED has done for the last 9 years plus has done NOTHING to benefit average Joe/Jane consumer. The money has all gone to the rich, enhanced their Wall St. portfolios but done nothing to help the average American pay bills. If anything , it has gotten harder for the middle and lower classes to make ends meet, as shown by the above graph. We are getting screwed due to rises in rents, mortgages, healthcare and food costs and received no equally compensatory benefit in wages. BOTTOM LINE YOU HAVE HIGHER COSTS BUT THE SAME REVENUE (WAGES).
In business that leads to less profits, in the home that leads to less expenditures on clothes, durable goods, food, vacations, or any other household expense you can think of. If you are unfortunate enough to have a health issue you have nothing left after doctor visits and pharmacy fill ups. It is getting harder to pay your bills and have anything left and in most cases the middle and lower classes have increased their debt load on credit cards to make ends meet.
I keep telling you this can not last nor will it. The bottom has to fall out at some point either through the market or rebellion of the masses. Trump supporters get it to a degree, they have a hint as to what is happening. Democrats and snowflakes are in Disneyland thinking like Cinderella, the prince will save me, meaning the government would NEVER let that happen. Well snowflakes the government, wall street and the FED is staffed by liars, cheaters and deceivers that will to anything to keep the ELITE happy, in their eyes you are expendable. Democrats don’t get it and when the crap hits the fan will realize they wasted valuable time demonstrating and posturing for the cameras when they should have been doing bi partisan politics to rid the swamp. I fear it’s too late, no matter how much of the swamp you clean there is a hidden swamp underneath. Kind of like the mold that grows in a petri dish it just keeps expanding.
Check this out:
“As I look back, it now seems that, with all the thought and work and good intentions, which we provided, we achieved absolutely nothing… nothing that I did, and very little that old Ben [Strong of the Federal Reserve] did, internationally produced any good effect – or indeed any effect at all except that we collected money from a lot of poor devils and gave it over to the four winds.”
-Montagu Norman, Governor of the Bank of England 1920-1944
Interesting quote pretty much sums up what has happened and this was written nearly 70 years ago!