“Along come the central banks. They’re creating a new type of wealth. It is not wage income. It is not the product of capital investments. It is not the result of technology or productivity increases or hard work or self-discipline… or any of the other things that lead to wealth and prosperity. Instead, it is created by the central bank ‘out of thin air.’ The result? During the first two years of the nation’s economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%. There may be a ‘recovery’ going on. But it is a recovery for the rich.”
You must be logged in to post a comment.