"My concern is...stimulus or the expansion of government deficits is just to transfer wealth from the public balance sheet to private balance sheets. And those who have the greatest access to it, those who are closest to the power are the ones that are going to benefit from it."
That was Mike Green on @Realvision yesterday.
I just read a very nice explanation of how all these Fed programs are supposed to work, and it sounded very nice, as if it will help businesses, but if we've learned anything since 2008, it's that the top 0.1% are very adept at sucking up money that's supposed to help the 99.9%.
"...money has to travel through institutions, and right now, the institutions for the powerful function well, and those for the rest of us are rickety and broken. So money gets to the rich first...the wealthy can use their access to money to buy up physical or financial assets."
You can follow @RudyHavenstein.
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