Here we go again. Poverty effects of soaring food and energy prices are outdistancing the wealth effect of rising stock markets. Our government economists just don't get it--they are impoverishing the poor and working class with unadulterated money printing, while enriching the financial elite who benefit from rising asset prices.
Since the Fed's announcement of QE 2.0 on August 27, 2010, Brent crude oil prices have rising 67.4%, while the S & P 500 equities index has risen just 26.3%.
http://graphics.thomsonreuters.com/11/04/GLB_MKTQEP.html
http://latimesblogs.latimes.com/money_co/2011/04/motorists-gambling-on-finding-a-better-price-are-running-out-of-gas.html
Saturday, April 16, 2011
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