Just as the earnings of leveraged investors like banks are starting to suffer due to zero rate policy, so too the spending by all manner of savers, from retirees to companies and not-for-profits to municipalities, is falling too. Fed Chairman Bernanke and the other members of the FOMC are killing the real economy to save the banks — but none of the benefit flowing to the banks is reaching U.S. households. In fact, the Obama Administration has been providing political cover for the Fed to conduct a massive, reverse Robin Hood scheme, moving trillions of dollars in resources from savers and consumers to the big banks and their share and bond holders.
Memo to Obama: time to break the refinance strike by the big banks
Most Popular Articles
Latest Articles
Special report: The brokerages gaining or losing market share in Dallas
Few cities have benefited as much from the trend of Americans moving south as Dallas, which added 170,000 residents in 2021 and 2022.
-
Technology’s role in rental property investment market
-
Best real estate continuing education schools for quick and easy license renewal in 2024
-
CoStar Group finds success through the sale of Homes.com memberships
-
Kevin Sears pulls back the curtain on NAR’s commission lawsuit settlement
-
A look back at HousingWire’s 2023 Marketing Leaders