Friday, May 20, 2016

Central Banks Are The Key Reason
The Middle Class Is Shrinking
"Central banks are the blame for this mess. Their inflationary policies have fueled the wealth inequalities that the central banks and socialists rail against. Misguided inflationist policies explain the 'broken social contract', the shrinking middle class, rising wealth inequality, and even the rise of Donald Trump and Bernie Sanders. Rising productivity is a good thing. It’s a result of innovation and it improves standards of living. Bernanke, Yellen, Larry Summers, and most of mainstream media has everyone convinced that lack of inflation is a problem. The inflationists insist prices must go up, whereas technology and free trade suggest prices should fall. Central banks are the key reason the middle class is shrinking."
- Mish Shedlock*
link here to the reference

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