Say Goodbye To Income Equality

Wall Street Journal Reports: Income Inequality a “Key Issue” for Global Economy. Absolutely. Hands down, no questions asked. Without income equality and a strong middle class no nation or its economy can function properly for very long. Unfortunately, over the last two decades the FED has been hell bent on destroying the middle class for the benefit of the rich and powerful. Now we find ourselves in the economy where the 85 richest people have more wealth than the bottom 3.5 Billion people.

Will this trend change anytime soon? 

Not a chance. If we look at the actions of the Federal Reserve, they will perpetuate this trend until people get fed up and demand change. Until that time, they will continue to inflate the markets while providing free credit to the top 1-5%. Enriching them in the process. Unfairly I might add. As for you? Better luck next time. Either get rich or you will be stuck in this “income inequality conundrum” for the foreseeable future. A sad  state of affairs. 

Oh, I almost forgot, if you need someone to blame, blame Greenspan, Bernanke and Yellen. 

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Income Inequality a ‘Key Issue’ for Global Economy

Income inequality is becoming a bigger issue on the global stage, with the IMF out this week saying it is one of the biggest challenges to global growth

“It’s a serious economic and political issue,” Eswar Prasad, author of the book “The Dollar Trap”, said this morning on the MoneyBeat show. “I’ve seen it close up-front in emerging markets.” When the people perceive that the vast majority of a nation’s wealth is going to small minority at the top, it erodes the desire for reform.

“Dealing with inequality is going to be a key issue in the years ahead,” he said. “Social instability is a major concern, not just in the advanced economies, but in many other emerging markets.”

Turning to China, where Premier Li warned about a wave of bankruptcies as the nation tries to introduce market-based reforms, Mr. Prasad said, “they’re playing a very dangerous game but one that they have no choice but to play.”