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Online mystery-ak

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« on: January 21, 2014, 11:46:02 AM »

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Offline Oceander

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« Reply #1 on: January 31, 2014, 09:27:34 PM »
"Rich people have pulled away, largely because the top 1 percent has been doing quite well -- and disproportionately doing quite well under President Obama," Brooks said. "Remember that the stock market has doubled in value since President Obama took office, and at least 80 percent of those gains have gone to the top 10 percent of the income distribution."

Of course.  Because all of that "free" money - i.e., quantitative easing - simply goosed the stock market and led to a false run-up in prices (false in that the stock market doesn't accurately reflect the real underlying economy), and in order to truly profit from that Obama-caused run-up you had to have a lot of money to throw around, or to invest in a hedge fund or other private equity vehicle that would then throw that money around for you.

Essentially, Obama's quantitative easing has been nothing more than a redistribution of wealth to the rich and away from the middle class, who will disproportionately have to bear the burden of the inflation that must necessarily follow a prolonged "free" money spree.

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