Monday, September 15, 2014

Rich have gotten richer

Credit expansion and money printing hasn't filtered much to ordinary people. It's boosted asset markets, real estate and stocks.

So well-to-do-people have done very well. High-end restaurants are packed. Now, some money flows to people who are serving there, because well-to-do people give generous tips, but ordinary people have a much higher cost of living increase than 2 percent.