"True compassion is more than flinging a coin to a beggar; it comes to see that an edifice which produces beggars needs restructuring."
Martin Luther King
The Federal Reserve of St. Louis just published an interesting study that asserts that wealthy people suffer disproportionately in stock market declines. The reason is that they own most of the stocks.
And an advisor for Pimco is suggesting that the Fed should be buying stocks. Makes sense, right? Socialism for the rich.
And now we see the foundation for the never ending financial asset bubbles being created by the Fed.
Have a pleasant evening.
