Via Zero Hedge ... The Philadelphia branch of the Federal Reserve is admitting that the Federal Reserve has inadvertently made the rich even richer with their continuous money dumps into the market.
The fact that market players, and the Federal Reserve, like to call these money dumps "Quantitative Easing" (QE) doesn't distract from the reality that "QE" is really just market speak for our Bailout in Perpetuity program for Wall Street and the nation's biggest banks.
So let's leave QE aside, and just call it what it really is: A market system so dependent on central planning that it borders on market socialism.
Luckily for us, we'll thank them later (I think).
- Mark
The fact that market players, and the Federal Reserve, like to call these money dumps "Quantitative Easing" (QE) doesn't distract from the reality that "QE" is really just market speak for our Bailout in Perpetuity program for Wall Street and the nation's biggest banks.
So let's leave QE aside, and just call it what it really is: A market system so dependent on central planning that it borders on market socialism.
Luckily for us, we'll thank them later (I think).
- Mark
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