WHAT HAVE I BEEN SAYING? Bank of Canada says QE can (edit: does) widen wealth inequality
Seriously, when is the Fed held to account for the consequences of their policies instead of getting away with lying to the public year after year?https://t.co/TzdP3AM593
But the real hammer just dropped by one of the most successful investors ever, billionaire Stan Druckenmiller. Not only does QE add to inequality it is the main driver:
“I don’t think there has been a greater engine of inequality than the Federal Reserve Bank of the United States”.
Watch this clip for it lays bare not only the brutal reality of how the Fed has reshaped the country for the benefit of the rich, but also who will pay for the consequences:
Druckenmiller: There s Been No Greater Engine Of Inequality Than The Fed zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
4. Crypto: all-time highs
5. US Inflation Expectations: highest since 08
6. Fed: we need 0% rates through at least 2023 & trillions more in bond buying to boost asset prices & increase inflation.
Fed s Kashkari: “For my friends on Wall Street, and I have a lot of them, I hear from them all the time complaining about the Fed’s policies that are mucking up their trading strategies”
There s going to be a lot of inflationary soul searching this weekend. Monday is going to be interesting.
still no senate hearing on hyperinflating lumber prices pic.twitter.com/zI0urtphOc
A trend will continue until it forces a change of behavior.
So, how high does lumber have to go before the housing/construction mkt changes behavior?
All I ve heard is contractors whining/complaining but they continue to pay up for lumber so they can build without interruption. pic.twitter.com/XYz9DvRWDH
Fed chart: Distribution of large institutional leveraged loan volumes by debt to EBITDA ratio.
Debt multiples over 6x are the highest ever while debt multiples of less than 4X are at their lowest ever. pic.twitter.com/WndwacJZGP If the “data available” is not capturing the full scale of risks between the hedge funds and the mega banks and the broker dealers they own, then there is zero evidentiary support for the Fed to state that “Banks remain well capitalized.”t.co/GCXX9Z6QaYpic.twitter.com/JwjmvyFlZK
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