Sunday, April 28, 2013

Federal Reserve

The sad but inevitable reality exposed by an analysis of the Fed's impact on the economy.
"During the first two years of the nation's economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%, according to a Pew Research Center analysis of newly released Census Bureau data.
From 2009-2011, the mean wealth of the 8 million households in the more affluent group rose to an estimated $3,173,895 from an estimated $2,476,244, while the mean wealth of the 111 million households in the less affluent group fell to an estimated $133,817 from an estimated $139,896.
These wide variances were driven by the fact that the stock and bond market rallied during the 2009-2011 period while the housing market remained flat."
What part of the consequences of printing money and giving it to the big banks don't you understand?

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