Robert Reich: The Fed, Apple, and Trickle-Down Economics

[byeya]

1. He's right and Bernacke's interest rate suppression is really hurting retirees who are counting on

the income from their CDs and bonds to finance them in old age. Income has dried up.

This interest rate suppression has not led to investment from the capitalists and has not had much of an impact on home buying with near record low mortgage rates. The ultras are buying things instead of building things that create jobs. The Fed has succeeded in inflating the price of stocks but has taken a human toll.

We need a massive infrastructure spending spree which is not possible for the Fed to accomplish but Obama could at least propose it, stump for it, and point fingers at obstructors. Instead, Obama has bought into the austerity nonsense.