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Sat Jun 13, 2020, 12:55 AM

America Convulses in Pain, Fed Bails Out the Wealthy

https://wolfstreet.com/2020/06/11/america-convulses-in-pain-fed-bails-out-the-wealthy/

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So there are some huge multi-faceted problems that need to be grappled with, and that need to be resolved, and people are hurting, and they’re frustrated, and they’re angry, and many are unemployed, and others have jobs that don’t pay enough to meet the rising living expenses, and small businesses are on the ropes, and there’s going to be a lot of pain.

And what does the Federal Reserve do?

It printed $2.9 trillion since early March to bail out investors in highly leveraged hedge funds that were imploding, and to bail out investors in highly leveraged mortgage REITs that were imploding, and to bail out asset holders whose stocks were plunging, and speculators in the riskiest concoctions, and investors of all kinds, and to bail out asset holders of any kind – and the wealthier they were, the more they got – to make sure they don’t feel any of the pain.

That’s what the Fed is doing.

So the Fed printed $2.9 trillion since early March. That’s about $22,000 per household. For the bottom half of households, $22,000 would have helped a lot to get through the crisis.

But this money wasn’t spread to them. It was helicopter money for Wall Street. And it went on to multiply. And most of it ended up with a relatively small number of households. And their wealth increased by the trillions of dollars.

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Reply America Convulses in Pain, Fed Bails Out the Wealthy (Original post)
alwaysinasnit Jun 13 OP
Alex4Martinez Jun 13 #1
alwaysinasnit Jun 13 #2
DanieRains Jun 13 #3
DanieRains Jun 13 #4
chowder66 Jun 13 #5

Response to alwaysinasnit (Original post)

Sat Jun 13, 2020, 12:57 AM

1. This happens every time. Big pay days for the least needy, least deserving.

Thanks for posting.

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Response to Alex4Martinez (Reply #1)

Sat Jun 13, 2020, 01:06 AM

2. I get the feeling that these grifters are making haste in looting the Treasury because they know

Last edited Sat Jun 13, 2020, 01:36 PM - Edit history (1)

BunkerBaby is going to lose and the Republicans will lose their majority in the Senate. So they better do it now while they still can.

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Response to alwaysinasnit (Original post)

Sat Jun 13, 2020, 02:30 AM

3. The Shock Doctrine

Again....

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Response to alwaysinasnit (Original post)

Sat Jun 13, 2020, 02:32 AM

4. Every Problem In America Is Because Of This Problem

The 1% get everything, and we are left fighting for the crumbs they leave behind.

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Response to alwaysinasnit (Original post)

Sat Jun 13, 2020, 03:37 AM

5. Justice has to be done.

The generations coming and that are here now (who are young) are going to eviscerate all the generations that didn't do enough to rectify this.

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