Destruction and Division

We both now we're headed for disaster
Our minds say no, but our hearts are talking faster
--Donny Iris

Marc Faber lays it out there regarding last week's FOMC announcement. He's, shall we say, pessimistic.

He notes, that because he has anticipated this kind of behavior and has positioned himself accordingly, the Fed's actions are jacking his portfolio higher. But this leaves Everyday Man behind. In his words,

"The fallacy of monetary policy in the US is to believe that this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices...Congratulations, Mr Bernanke. I'm happy. My asset values go up but as a responsible citizen I have to say the monetary policies of the US will destroy the world."

Many pages here have made similar observations. Those scratching their heads over the widening divide between rich and poor should be examining the influence of central bank policy on exacerbating differences in income and wealth levels.