Fed Bad
Jul 11, 2024
. . . because the Fed is supposed to prevent inflation.
Not only is there enormous inflation (Bad) but it’s the worst kind of inflation: it’s asset price inflation (Bad). Rather than in consumer prices, there is inflation in the prices of stocks, bonds, and real estate (Bad). It’s rich people who own most of the stocks, bonds, and high-end real estate, so it’s rich people benefiting most from the inflation that the Fed is responsible for (Very Bad.)