Asset Inflation

The Fed has decided that creating asset inflation is the best response to the pandemic.  Thus, if you owned a $1 million house before the pandemic, you now probably own a $1.5 million house.  But if you don’t own a house, you will probably never be able to own a house.  If you had a $1 million stock portfolio before the pandemic, you probably now have a $1.5 million portfolio, but if you didn’t own lots of stock before the pandemic, you will probably never be able to own any.

The Fed has decided the only way to save the US economy is to make the rich richer and starve the poor.

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