Authored by Wolf Richter via WolfStreet.com,
Those who lost out on the Fed’s “wealth effect.”
Here’s a mystery: Has this “wealth-effect” economy that the Fed so beautifully engineered since the Financial Crisis gotten a lot riskier, scarier, and uglier in some profound ways for lower-income Americans, those making $30,000 or less a year?
One of the questions that Gallup posed was this:
A month ago, Maryland Attorney General Brian E. Frosh wrote to federal authorities asking that they declare the state's courts, schools and hospitals off limits to immigration agents. Frosh, a Democrat, wrote that he was sending the letter in response to new immigration guidelines issued by the Trump administration that greatly expand the number of people considered a priority for removal from the country.
Irish Government To Issue Free Gold Coin To Protect Citizens From Brexit's Impact On Euro and EU
Chicago's pension funds, along with several other large public pensions around the country, are in serious trouble (we recently discussed the destruction awaiting our financial markets here: "Are Collapsing Pensions "About To Bring Hell To America"?").
The problem is that the pending doom surrounding these massive public pension obligations often get clouded over by complicated actuarial math with a plan's funded status heavily influenced by discount rates applied to future liability streams.
Authored by Michael Snyder via The Economic Collapse blog,