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by confoundedinterest17
It’s NOT all the time sunny in Philadelphia.
The Philadelphia Fed Enterprise Outlook fell nearly -10% in September as The Federal Reserve tightens financial coverage.
On a associated notice, the share of whole web price held by the underside 50% within the US (pink line) was all the time larger than the share of whole web price held by the highest 1% (blue line) … till The Federal Reserve started QE in late 2008. Below Obama, the highest 1% surpassed the underside 50% when it comes to share of whole web price. it equalized below Trump and earlier than Covid. Then the large QE (and surge in Federal spending) to battle Covid seemingly made the wealthy even richer and the underside 50% even poorer. That is Biden’s America … large Federal subsidies to the rich, crumbs for the underside 50%.
Inexperienced power anybody??
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