The Fed is robbing the middle class once again.

Posted by freedomforall 2 months, 2 weeks ago to Business
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"this is the third major acceleration in the process.

The first major acceleration began in the wake of the dot-com bust when the Fed bailed out the lenders who made loans to worthless companies. Housing prices soared to the moon as the Fed stood by and watched. Bernanke denied there was a bubble. The transfer of wealth to the likes of companies like Countrywide Financial was massive.
The Second acceleration was in response to the bust. For the second time, the Fed held rates too low to long. Asset prices went to the moon and speculation surpassed that of the housing bubble and the dot-com bubble.
This preposterous entry into Junk bonds and other bailouts is the third major acceleration and the Fed had to bend some rules to do so. Buying junk bonds is illegal under its actual mandate."
SOURCE URL: https://www.thestreet.com/mishtalk/economics/third-major-transfer-from-the-middle-class-to-the-wealthy


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