An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
On a somewhat related note, retirees are getting stiffed and good with no Social Security raise next year while Medicare costs rise precipitously. Beyond pathetic.
Expect inequality on steroids now that Christendumb has cast its gaze on the inequality issue...
We will probably now get the inequality equivalent of partial birth abortion and selling body parts extracted out of live fetuses for USD balances... or the anti-homosexual equivalent of gay marriage....
If they start raising rates inequality is probably going to get waaaaaayyyy worse...
Matt logic dictates it will, as financial assets ownership is very skewed towards the top percentile, and financial liabilities is very skewed towards the lower centiles.
Logic dictates that a rate hike will favour the top centiles and hurt the low centiles which will have to pay higher rates on their liabilities. Inequality will increase indeed.
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On a somewhat related note, retirees are getting stiffed and good with no Social Security raise next year while Medicare costs rise precipitously. Beyond pathetic.
http://www.chicagotribune.com/news/nationworld/ct-no-social-security-benefit-hike-20151015-story.html
Expect inequality on steroids now that Christendumb has cast its gaze on the inequality issue...
We will probably now get the inequality equivalent of partial birth abortion and selling body parts extracted out of live fetuses for USD balances... or the anti-homosexual equivalent of gay marriage....
If they start raising rates inequality is probably going to get waaaaaayyyy worse...
Matt logic dictates it will, as financial assets ownership is very skewed towards the top percentile, and financial liabilities is very skewed towards the lower centiles.
Logic dictates that a rate hike will favour the top centiles and hurt the low centiles which will have to pay higher rates on their liabilities. Inequality will increase indeed.
Housing alone will stop the Fed in its rate rising tracks. I doubt you'd get even a half a percent rise before Housing Bubble Burst 2.0 commences.
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