Wall Street is counting its winnings from seven years of easy money.
The results represent a clear victory for Wall Street over Main Street, according to the team of Michael Hartnett, BofA’s chief investment strategist.
“Zero rates and asset purchases of central banks have, thus far, proved much more favorable to Wall Street, capitalists, shadow banks, ‘unicorns,’ and so on than it has for Main Street, workers, savers, banks and the jobs market,” the BofA team wrote.
– From the post: Bank of America Admits – Central Bank Policy Enriched Wall Street While “Steamrolling” Main Street
When I first started this website several years ago, part of my mission was to convince as many people as possible that we all have a common adversary, the U.S. status quo. Back then, the public was still largely confused. Still in financial shock from the crisis, many Americans hung onto hope that if they just kept their heads down and worked hard things would get better. Well they didn’t get better, and they aren’t going to.
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