They are that rich because monetary policy is frantically trying to force them to spend their money by dropping interest rates and doing QE; because the CPI excludes asset prices, substitutes goods for cheaper goods, and performs subjective deductions on goods to reduce their price in the basket even though they dont help the poor afford food and rent.
If the money supply grows at 7-8% and the stock market grows at 10% how can the poor possibly be made better off, when they are lucky to get a 2% cost of living adjustment and their minimum wage is actively being debased to push up stock values?
They are that rich because monetary policy is frantically trying to force them to spend their money by dropping interest rates and doing QE; because the CPI excludes asset prices, substitutes goods for cheaper goods, and performs subjective deductions on goods to reduce their price in the basket even though they dont help the poor afford food and rent.
If the money supply grows at 7-8% and the stock market grows at 10% how can the poor possibly be made better off, when they are lucky to get a 2% cost of living adjustment and their minimum wage is actively being debased to push up stock values?
They gotta make it up in volume! /s