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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: gpowell who wrote (24605)10/17/2004 10:12:41 PM
From: Mike JohnstonRead Replies (1) of 306849
 
gpowell

If capitalism is a true free market economy and socialism is
the transfer of wealth from the rich to the poor, how would one call a current economy in the US, where government intervention via artificially low interest rates causes a massive transfer of wealth from middle classes and the poor to the rich ?

Right now in the US wealth is transfered from savers, retirees, renters, first time home buyers to banks(which pay below free market interest rates on deposits), the government and real estate speculators( only homeowners with at least 2 properties benefit).

Again, one cannot confuse inflation with wealth. Inflation is a stealth tax that confiscates earnings and wealth primarily from the poor, middle class and retirees.
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