ProfSteveKeen | Who benefits? The wealthy. @ProfSteveKeen | Uploaded July 2024 | Updated October 2024, 8 hours ago.
The Federal Reserve's misunderstanding of the 2007 crisis has only worsened inequality.

They pushed quantitative easing, thinking it would save the economy. Instead, it inflated asset prices. Who benefits? The wealthy.

Most people own minimal shares. They gain nothing.

It's like giving a starving man a cookbook. Looks helpful, but doesn't fill his stomach.

The Fed's actions have tightened the inequality rubber band.

It's stretched to its limit. Ready to snap.

When it does, the fallout will be severe.

The rich will cushion their fall with their inflated assets.

The rest? They'll hit the ground hard.

This isn't just theory. Look at the data.

Since 2008, the wealth gap has widened.

The top 1% now hold more wealth than the bottom 90%.

That's not a healthy economy.

It's a ticking time bomb.

We need real solutions.

Not more of the same.

Invest in infrastructure. Create jobs.

Raise wages.

These steps will help everyone.

Not just the elite.

Ignoring this reality is dangerous.

The next crisis won't be kind.

It's time to learn from past mistakes.

And act before it's too late.