The 20 richest Americans are worth over $990 billion. There are over 660 billionaires in the US including President Trump. Never in history has so much money poured into the overflowing coffers of the super rich as in the passed 4 years. Never in history has there been such an enormous gap between rich and poor as in the US right now under Trump. Under Trump the Fed has injected over $3 trillion into the markets in only 3 months, twice the amount spent during the GFC.
Now the Fed is buying junk bonds for the first time in history. "Robert Pavlik, chief investment strategist at SlateStone Wealth in New York, said: “No doubt the market liked it. Who doesn’t like more cake and ice cream? It fuels traders to buy individual stocks and take on higher risk because the Fed has backstopped the bond market and kept a tighter lid on interest rates.”The intervention is being financed by the provision of $75 billion from the US Treasury which the Fed is able to leverage up to create a fund of $750 billion."
The richest 1% have never been so rich and paid so little tax. Thank You Mr Trump.
