From CounterPunch
''The most remarkable thing about Wall Street is that while it flourishes, working people wither. How can this be? The reason for this is the near-zero-interest-rates policy of Ben Bernanke, the chairman of the Fed. A five year Certificate of Deposit pays now on average less than 1% a year and that has made it impossible for savers to save, except by putting their savings into stocks; this is why the prices of stocks are high. The ones who benefit from these high prices the most are the executives, because they use these bloated stock prices to justify their outlandish “compensation.” As social policy, however, forcing people to buy stocks has no justification.''
read more
No comments:
Post a Comment