Fed policies have destroyed those on fixed income for the benefit of the banks and wealthy, as I wrote on Wednesday in Reader Asks Me to Prove "Inflation Benefits the Wealthy" (At the Expense of Everyone Else)
Inquiring minds may also wish to read Hello Ben Bernanke, Meet "Stephanie"
, my response to a reader on fixed income attempting to live on Social Security plus interest on a $16,000 CD.
Any clear-thinking person realizes the Fed has no exit strategy and thus will hold on to all or nearly-all of those assets for the full duration of their term. Thus, it will be interesting to see what lies Bernanke comes up with in response.
Mike "Mish" Shedlockhttp://globaleconomicanalysis.blogspot.com