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The current situation can be partly blamed on the quantitative easing undertaken by the Fed post 2008 housing crisis. By printing trillions of dollars out of th
by justfor1comment 7y ago
The current situation can be partly blamed on the quantitative easing undertaken by the Fed post 2008 housing crisis. By printing trillions of dollars out of thin air and using them to bail out AIG and other rich businesses the dollar in our pockets lost a portion of its value. The wiki section on QE talks about this effect in more detail: https://en.wikipedia.org/wiki/Quantitative_easing#Increased_income_and_wealth_inequality https://en.wikipedia.org/wiki/Quantitative_easing#Increased_...
- fjp 7y agoIt also went directly into corporate balance sheets instead of to the average person. People that own tons of stock won BIG. People that own small-medium amounts of stock (think retirement accounts) did okay. People who didn't own stock got nothing.
- heavenlyblue 7y ago>> People who didn't own stock got nothing. So they lost, since the total amount of money in the economy increased.
- KitDuncan 7y agoI don't know, but the situation here in Germany feels very similar.