Dark Side Of Federal Stimulus! Checkable Deposits Soared For The Top 1% In Terms Of Wealth Compared To Bottom 50% (The More The Fed Prints, The Wealthier The 1% Becomes)

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by confoundedinterest17

Yes, there is a Dark Side to Federal stimulus! And it isn’t Dark Side of the Moon, but the dark side of who benefits from Federal stimulus. Its all about money.

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Example? Take Checkable Deposits of the to 1% (blue line) of wealth compared to the bottom 50% of wealth (red line) after The Fed cranked up monetary stimulus to combat the Covid shutdowns.

On the wealth side, Covid-related monetary stimulus benefitted the top 1%.

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But the middle class is expericing a tighening of credit coutesy of Cap’n Crunch (Fed Chair Powell).