Page 1 of 3 123 LastLast
Results 1 to 10 of 30

Thread: Druckenmiller: Fed robbing poor to pay rich

  1. #1
    Sage
    Montecresto's Avatar
    Join Date
    Aug 2013
    Last Seen
    03-13-16 @ 11:59 PM
    Lean
    Undisclosed
    Posts
    24,561

    Druckenmiller: Fed robbing poor to pay rich

    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."


    http://www.cnbc.com/id/101046937

  2. #2
    Banned
    Join Date
    Jan 2010
    Location
    Canada, Costa Rica
    Last Seen
    05-16-16 @ 09:45 AM
    Gender
    Lean
    Independent
    Posts
    31,645

    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
    It is a tragedy for so many American people and it is largely those same people who voted for Barrack Obama who will suffer the most. Record U.S. Poverty Rate Holds As Inequality Grows - Businessweek

  3. #3
    Sage
    Montecresto's Avatar
    Join Date
    Aug 2013
    Last Seen
    03-13-16 @ 11:59 PM
    Lean
    Undisclosed
    Posts
    24,561

    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by Grant View Post
    It is a tragedy for so many American people and it is largely those same people who voted for Barrack Obama who will suffer the most. Record U.S. Poverty Rate Holds As Inequality Grows - Businessweek
    The middle class is made up of people that don't vote, dems and GOPpers.

  4. #4
    Sage
    Fisher's Avatar
    Join Date
    Sep 2012
    Last Seen
    12-06-13 @ 02:44 PM
    Gender
    Lean
    Very Liberal
    Posts
    17,002

    Re: Druckenmiller: Fed robbing poor to pay rich

    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.

  5. #5
    Sage
    Montecresto's Avatar
    Join Date
    Aug 2013
    Last Seen
    03-13-16 @ 11:59 PM
    Lean
    Undisclosed
    Posts
    24,561

    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 you think a billionaire who has made his money in the business would know the business?

  6. #6
    Sage
    Fisher's Avatar
    Join Date
    Sep 2012
    Last Seen
    12-06-13 @ 02:44 PM
    Gender
    Lean
    Very Liberal
    Posts
    17,002

    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by Montecresto View Post
    Don't you think a billionaire who has made his money in the business would know the business?
    I think a billionaire who has made his money in the business is working an angle as opposed to having a Come To Jesus moment in an interview.

  7. #7
    Professor
    Join Date
    Jul 2013
    Last Seen
    11-30-13 @ 07:05 PM
    Lean
    Undisclosed
    Posts
    1,293

    Re: Druckenmiller: Fed robbing poor to pay rich

    From the article: "New data from Emmanuel Saez, an economist at the University of California at Berkeley, found that the top 1 percent captured 95 percent of the gains during the recovery."


    The people that want more and more power, more and more control over everyone's life, the Dems; know this and have know it for a long time. But they get useful idiots to go right on along with "tax the rich" polices that seldom get paid yet keep money away from the middle and the poor.

    Aside from the rich, Obamas tax increases have helped nobody yet hurt everybody but the rich. Same for his support of Bernake and the fed's policies. But the useful idiots will keep on supporting him because of expanding food stamp policies and health care they won't get through Obamacare.

    Stupid is as stupid does.
    "“If we don’t deepen our ports all along the Gulf — places like Charleston, South Carolina; or Savannah, Georgia; or Jacksonville, Florida…” -Obama

  8. #8
    Sage
    Montecresto's Avatar
    Join Date
    Aug 2013
    Last Seen
    03-13-16 @ 11:59 PM
    Lean
    Undisclosed
    Posts
    24,561

    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by Fisher View Post
    I think a billionaire who has made his money in the business is working an angle as opposed to having a Come To Jesus moment in an interview.

    First of all, it wasn't a come to Jesus moment. If you want to here it explained read it all or watch the interview.

  9. #9
    Sage
    Montecresto's Avatar
    Join Date
    Aug 2013
    Last Seen
    03-13-16 @ 11:59 PM
    Lean
    Undisclosed
    Posts
    24,561

    Re: Druckenmiller: Fed robbing poor to pay rich

    Quote Originally Posted by ItAin'tFree View Post
    From the article: "New data from Emmanuel Saez, an economist at the University of California at Berkeley, found that the top 1 percent captured 95 percent of the gains during the recovery."


    The people that want more and more power, more and more control over everyone's life, the Dems; know this and have know it for a long time. But they get useful idiots to go right on along with "tax the rich" polices that seldom get paid yet keep money away from the middle and the poor.

    Aside from the rich, Obamas tax increases have helped nobody yet hurt everybody but the rich. Same for his support of Bernake and the fed's policies. But the useful idiots will keep on supporting him because of expanding food stamp policies and health care they won't get through Obamacare.

    Stupid is as stupid does.
    He doesn't want to see that, the billionaire is lying.

  10. #10
    Professor
    Join Date
    Jul 2013
    Last Seen
    11-30-13 @ 07:05 PM
    Lean
    Undisclosed
    Posts
    1,293

    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.
    So increased government theft of wealth is the answer? It isn't working now and has never worked in the past, anywhere.
    "“If we don’t deepen our ports all along the Gulf — places like Charleston, South Carolina; or Savannah, Georgia; or Jacksonville, Florida…” -Obama

Page 1 of 3 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •