The chorus is growing in opposition to the Fed's new con. The latest is Michael Burry, the famed hedge fund investor profiled in Michael Lewis' bestselling book on the financial crisis"The Big Short." As an aside, the book is worth reading if for no other reason than comprehensively disproving the popular FIRE spin that no one saw the crisis coming. "The Fed’s support for asset values isn’t helping the "real" economy, and is creating "dangerous signs of a potential free fall" in the dollar and will be unsustainable", Burry said
According to the former director of the Office of Management and Budget David Stockman "Today the Fed is scared to death that the boys and girls and robots on Wall Street are going to have a hissy fit. And therefore these programs, one after another, are simply designed to somehow pacify the stock market, and hoping to keep the stock indexes going up, and that somehow that will fool the people into thinking they are wealthier and they will spend money."
Beyond the lack of economic sense, the question remains who does Bernanke, and the Fed really serve? Clearly Wall Street, but who are they and who do they serve? Who owns the "financial assets" Bernanke is stimulating?
United States: Wealth Distribution by Investment Assets (2007)
49.7% - Top 1%
38.1% - Next 9%
12.2% - Bottom 90%
And there you have it, in all its glory. A corrupt gang of bankers, speculators working on behalf of plutocrats have taken the reins of our government and financial institutions and perverted them to steal from the poor and middle class and give to the rich and super rich.