It’s NOT at all times sunny in Philadelphia.
The Philadelphia Fed Enterprise Outlook fell virtually -10% in September as The Federal Reserve tightens financial coverage.
On a associated notice, the share of whole internet value held by the underside 50% within the US (purple line) was at all times greater than the share of whole internet value held by the highest 1% (blue line) … till The Federal Reserve started QE in late 2008. Underneath Obama, the highest 1% surpassed the underside 50% by way of share of whole internet value. 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 vitality anybody??
