Montecresto
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The Federal Reserve isn't just inflating markets but is shifting a massive amount of wealth from the middle class and poor to the rich, according to billionaire hedge fund manager Stanley Druckenmiller.
In an interview on "Squawk Box," the founder of Duquesne Capital said the Fed's policy of quantitative easing was inflating stocks and other assets held by wealthy investors like himself. But the price of making the rich richer will be paid by future generations.
"This is fantastic for every rich person," he said Thursday, a day after the Fed's stunning decision to delay tightening its monetary policy. "This is the biggest redistribution of wealth from the middle class and the poor to the rich ever."Druckenmiller: Fed shifting money to rich from poor
It is a tragedy for so many American people and it is largely those same people who voted for Barrack Obama who will suffer the most. Record U.S. Poverty Rate Holds As Inequality Grows - Businessweek
It is true, but I am not sure they have a choice. If the housing market were to truly collapse, most wealth of all poor and middle class people would be lost though. In theory all this money put into QE should be pulled out in the future by the government, but Obama won't do it so the next guy has to commit political suicide in doing it or the damage cannot be undone and the dollar will flounder.
Don't you think a billionaire who has made his money in the business would know the business?
I think a billionaire who has made his money in the business is working an angle as opposed to having a Come To Jesus moment in an interview.
From the article: "New data from Emmanuel Saez, an economist at the University of California at Berkeley, found that the top 1 percent captured 95 percent of the gains during the recovery."
The people that want more and more power, more and more control over everyone's life, the Dems; know this and have know it for a long time. But they get useful idiots to go right on along with "tax the rich" polices that seldom get paid yet keep money away from the middle and the poor.
Aside from the rich, Obamas tax increases have helped nobody yet hurt everybody but the rich. Same for his support of Bernake and the fed's policies. But the useful idiots will keep on supporting him because of expanding food stamp policies and health care they won't get through Obamacare.
Stupid is as stupid does.
It is true, but I am not sure they have a choice. If the housing market were to truly collapse, most wealth of all poor and middle class people would be lost though. In theory all this money put into QE should be pulled out in the future by the government, but Obama won't do it so the next guy has to commit political suicide in doing it or the damage cannot be undone and the dollar will flounder.
So increased government theft of wealth is the answer? It isn't working now and has never worked in the past, anywhere.
He doesn't want to see that, the billionaire is lying.
Who is he? Obama is nothing more than part of the Dems.
But if they don't want this, why do they keep doing it? (I already provided the answer)
It is a single data point argument you folks are making. The excess money will be pulled out of the market or the dollar will flounder until the economy grows to support the money supply. When QE ends, stocks will start pulling way back and a lot of this imaginary paper wealth will disappear.
He was Fisher and I was being sarcastic about the billionaire lying, sorry for the confusion.
If you have made millions in imaginary wealth using QE the last five years, sell all your stocks Monday. You will be busy counting "imaginary" money for awhile.
So increased government theft of wealth is the answer? It isn't working now and has never worked in the past, anywhere.
It is a single data point argument you folks are making. The excess money will be pulled out of the market or the dollar will flounder until the economy grows to support the money supply. When QE ends, stocks will start pulling way back and a lot of this imaginary paper wealth will disappear.
Old people who are TOO old DO steal wealth from young people. They're all supposed to die about 15 years after SS payments start.It is like the Antique's Roadshow when they show old footage and then tell you if the estimate then is higher or lower than it is now. There are ways to make money on things going up; and ways to make it on things going down. He made his wealth as a hedge fund manager which might give you a clue that he is angling on something.
He also thinks old people have stolen wealth from young people. It is just another one of those things to get free press as far as I can tell.
It is like the Antique's Roadshow when they show old footage and then tell you if the estimate then is higher or lower than it is now. There are ways to make money on things going up; and ways to make it on things going down. He made his wealth as a hedge fund manager which might give you a clue that he is angling on something.
He also thinks old people have stolen wealth from young people. It is just another one of those things to get free press as far as I can tell.
It is like the Antique's Roadshow when they show old footage and then tell you if the estimate then is higher or lower than it is now. There are ways to make money on things going up; and ways to make it on things going down. He made his wealth as a hedge fund manager which might give you a clue that he is angling on something.
He also thinks old people have stolen wealth from young people. It is just another one of those things to get free press as far as I can tell.
Go figure. Worked pretty well in busting the railroad tycoons. Worked decent following the Great Depression, too...but WW2 takes more credit in that dept. worked fantastically following WW2. Worked right on into the 60s. Late sixties, things took a turn. Then in the 80s it fell off a cliff.
Funny stuff, that history.
The Federal Reserve isn't just inflating markets but is shifting a massive amount of wealth from the middle class and poor to the rich, according to billionaire hedge fund manager Stanley Druckenmiller.
In an interview on "Squawk Box," the founder of Duquesne Capital said the Fed's policy of quantitative easing was inflating stocks and other assets held by wealthy investors like himself. But the price of making the rich richer will be paid by future generations.
"This is fantastic for every rich person," he said Thursday, a day after the Fed's stunning decision to delay tightening its monetary policy. "This is the biggest redistribution of wealth from the middle class and the poor to the rich ever."
Druckenmiller: Fed shifting money to rich from poor
Go figure. Worked pretty well in busting the railroad tycoons. Worked decent following the Great Depression, too...but WW2 takes more credit in that dept. worked fantastically following WW2. Worked right on into the 60s. Late sixties, things took a turn. Then in the 80s it fell off a cliff.
Funny stuff, that history.
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