One way to see who’s winning and losing in the current economy is to track the stock prices of Macy’s, Kohl’s and J.C. Penney, retailers who serve the middle class, with Tiffany, Coach and LVMH, retailers who deal in luxury goods.
Click on Sober Look: 5 Years of QE and the distributional effects for an argument that the Federal Reserve’s policy of quantitative easing (buying up bad investments of the big banks), together with the absence of a U.S. jobs program, helps the elite at the expense of the public.
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[Afterthought] Here is a chart to show who has done well under current economic policy.
And here is a chart to show who has not done well.
Tags: Quantitative Easing, Retail Stocks
Phil Ebersole's Blog 
November 22, 2013 at 11:47 am |
Reblogged this on The Grey Enigma.
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November 22, 2013 at 12:06 pm |
Monetary policy such as QE is needed because Congress won’t approve an aggressive fiscal policy. The FED might be willing to let interest rates rise sooner if the threat of sequester, shutdown, and default didn’t hang over the economy.
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