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Thread: Druckenmiller: Fed robbing poor to pay rich

  1. #21
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    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by Fisher View Post
    It is like the Antique's Roadshow when they show old footage and then tell you if the estimate then is higher or lower than it is now. There are ways to make money on things going up; and ways to make it on things going down. He made his wealth as a hedge fund manager which might give you a clue that he is angling on something.

    He also thinks old people have stolen wealth from young people. It is just another one of those things to get free press as far as I can tell.
    Also, antiques road show is fascinating. I have used it to teach my wife a thing or two. Sometimes people from wealthy old families get on there, with Tiffany jewelry from the 20s or so, and she thinks those people have just made a fortune when it gets appraised at 75k or whatever...then I explain that, new, it was purchased at 2-4k, which was more than a model T, and halfway to owning a house back then. Way back. When a penny had value. And she's like...Oh.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

  2. #22
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    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by KevinKohler View Post
    Go figure. Worked pretty well in busting the railroad tycoons. Worked decent following the Great Depression, too...but WW2 takes more credit in that dept. worked fantastically following WW2. Worked right on into the 60s. Late sixties, things took a turn. Then in the 80s it fell off a cliff.


    Funny stuff, that history.
    When history is told that way, it is funny.
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    Re: Druckenmiller: Fed robbing poor to pay rich

    Hmmmm... I don't know about that. The middle class own a lot of stocks and funds in their 401ks. I wouldn't put much "stock" in something a hedge fund manager says about what's good for the middle class.

    Besides....the stock market often rises and falls for seemingly mysterious reasons, having nothing to do with anything done by the government.

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    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by Montecresto View Post
    The Federal Reserve isn't just inflating markets but is shifting a massive amount of wealth from the middle class and poor to the rich, according to billionaire hedge fund manager Stanley Druckenmiller.

    In an interview on "Squawk Box," the founder of Duquesne Capital said the Fed's policy of quantitative easing was inflating stocks and other assets held by wealthy investors like himself. But the price of making the rich richer will be paid by future generations.

    "This is fantastic for every rich person," he said Thursday, a day after the Fed's stunning decision to delay tightening its monetary policy. "This is the biggest redistribution of wealth from the middle class and the poor to the rich ever."


    Druckenmiller: Fed shifting money to rich from poor
    Is that the redistribution of income that Obama said he favored?

    Gosh, sounds all Marxist and such, doesn't it?
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by KevinKohler View Post
    Go figure. Worked pretty well in busting the railroad tycoons. Worked decent following the Great Depression, too...but WW2 takes more credit in that dept. worked fantastically following WW2. Worked right on into the 60s. Late sixties, things took a turn. Then in the 80s it fell off a cliff.


    Funny stuff, that history.
    You must refer to Reaganomics.

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    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by Fisher View Post
    It is true, but I am not sure they have a choice. If the housing market were to truly collapse, most wealth of all poor and middle class people would be lost though. In theory all this money put into QE should be pulled out in the future by the government, but Obama won't do it so the next guy has to commit political suicide in doing it or the damage cannot be undone and the dollar will flounder.
    Don't fool yourself Fisher.

    The Housing market exist in a massive sea of debt with FHA now repeating the exact same policies that sunk Fannie and Freddie.

    Wells Fargo just layed off 1500 personel from its mortgage division, and this Country took on 5.4 Trillion in GSE debt in 2008.

    A large portion of that was securities backed by sub-standard loans and actual loans that were made with next to no capital requirement.

    The Feds QE policy is based on purely political rationale, as a sell off right befors midterms would look really bad on the Democrats.

    With out QE, the DOW would simply readjust to echo the current state of the economy, as trillions would vanish from the 401k portfolios of millions of Americans in an instant.

    Easy come easy go I guess.

    QE is a massive unprecedented tax on the middle class as money thats made on interest bearing accounts is shifted over to the asset markets.

    Only a incompetent liberal boob of a President could accomplish something like that, and only American low information voters could be so ignorant as to not notice

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    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by KevinKohler View Post
    Except that businesses operate on that imaginary paper wealth.
    Of course they do. That is what drives their value up. One big scandal could destroy google or facebook and all their investors' wealth in them.

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    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by Fisher View Post
    Of course they do. That is what drives their value up. One big scandal could destroy google or facebook and all their investors' wealth in them.
    If only.


    They're likely too big to fail.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by KevinKohler View Post
    If only.


    They're likely too big to fail.
    I doubt it. I expect Europe to start slapping these companies silly as a proxy attack on the US for its intrusive spying programs on ordinary people. Microsoft was going to take over the world, and it didn't; Yahoo was going to take over the world, and it didn't; Amazon was going to take over the world, and it didn't; Myspace was the greatest thing since toilet paper, and now its stock might would buy you a pack of it. Don't believe the hype. Nobody is too big to fail.

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    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by Fisher View Post
    I doubt it. I expect Europe to start slapping these companies silly as a proxy attack on the US for its intrusive spying programs on ordinary people. Microsoft was going to take over the world, and it didn't; Yahoo was going to take over the world, and it didn't; Amazon was going to take over the world, and it didn't; Myspace was the greatest thing since toilet paper, and now its stock might would buy you a pack of it. Don't believe the hype. Nobody is too big to fail.
    Except the MIC. Our unemployment would become unsustainable and we would collapse.

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