Quantitative Easing and the Left's Relationship to the Rich and to Large Corporations
The Left spends a lot of time railing against the rich and large corporations. But in practice, they seem hell-bent on lining the pockets of exactly these groups. Today the ECB announces a one trillion plus euro government buyback of public and private securities.
Between Japan, the US, and now Europe, the world's central banks are printing money like crazy to inflate securities values around the world -- debt securities directly by buying them but indirectly a lot of the money spills over into stocks as well. This has been a huge windfall for people whose income mostly comes from capital gains (i.e. rich people) and institutions that have access to bond and equity markets (i.e. large corporations). You can see the effects in the skyrocketing income inequality numbers over the last 6 years. On the other end, as a small business person, you sure can't see any difference in my access or cost of capital. It is still just as impossible to get a cash flow loan as it always was.
