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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: zzpat who wrote (1086558)	9/7/2018 7:23:11 AM
From: RetiredNow	2 Recommendations Recommended By bruwin THE WATSONYOUTH Read Replies (1) \| Respond to of 1576767

QE was nothing more than a crime against the 99% committed by a politburo of central economic planners, who Marx would have been proud of. I'm not complaining, because I'm precisely one of the 1% who benefitted from the QE monstrosity. You see, they were counting on trickledown to get to the 99% from the wealth effect that QE enabled for people like me. So I've made plenty of money off of QE, but I still know that it was a great transfer of wealth from the 99% to the 1%. Those are the facts and it is patently unfair. I didn't need that extra money. Few of the 1% did. But that money was taken out of the mouths of the 99%. There is NEVER a free lunch. QE did not save the economy. That's the lie the devil told you. Saving the bankers is more like it. Capitalism would have served up exactly what the bankers deserved, which are consequences like wiping out the stockholders of the banks and the remaining assets sold off to banks that didn't take ridiculous risks. Then we wouldn't have systemically important banks, but we'd have far more, smaller, healthy banks, instead of giant banks that are dependent on government bailouts and who will continue to take ridiculous risks with no fear of consequences, because the government will bail them out with QE again next time. But when you have a Federal Reserve that was created specifically to "save the bankers", then that's what we get. Think about this for a moment. The bankers commit crimes against the 99% (and still are if you read up on Wells Fargo), which results in a blowing up of our economy, and then they get rewarded with a bailout from the government and a backdoor recapitalization scheme through QE. Exactly what kind of incentive structure have you put in place with that? Crime pays in this country. Proper incentives that capitalism entails have been destroyed. QE was a great deformation and enabled the continued financialization of our economy, which acts like a giant parasitic skimming con, taking money from the 99% and giving it to the 1%. It is socialism for the rich and communism for the poor. Nothing could be more destructive to capitalism and the economic health of the 99% than what the Federal Reserve has done from 2008 onwards.