I find it hard to believe that the stock market, Wall Street, is rising - when on Main Street - people are losing their jobs... The disparity between the rich and the poor are getting larger right before our eyes. It is more than just the numbers, it's the actual cause and effect of what is happening - The effect is that we are going to slowly see underemployed people. What do I mean by that? Well, real example - An opening for a $12-16/hour job for an administrative intern is being flooded with resumes by past mortgage brokers, real estate agents, engineers, and construction workers - No one with real experience in that field, but also no one that, in their previous life, would've dreamed that they had to work for that amount of money. As the rich continue to get richer on Wall Street - The Fed flooding the big banks and businesses with money to merge/acquire other businesses - The people that get laid off because of this - All of this will have an effect that will affect everyone!
The equity markets are rallying behind a thought that the fed will continue to pump money into the system. What happens when that stops? That'll be for another post.
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