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Darankash
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Don't Look Now But The Wealth Effect Is Over - Michael Pento - Delta Global Advisors

And a production-based economy is based on what ???

Commented 3643 days ago

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Beginning of the headline :The government's "ingenious" solution to end the Great Recession was to recreate the same wealth effect that engendered the credit crisis to begin with: The definition of the wealth effect is an increase in spending that comes from an increase in the perception of wealth generated from equities and real estate. Our Treasury and Federal Reserve figured the best way to accomplish this was to rescue the banking system by; taking interest rates to zero percent, buying banks' troubled ass... Read More

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