Federal Reserve Board Chair Jerome Powell speaks during a news conference the Federal Reserve in Washington, Wednesday, March 20, 2024. would avert both depressions and inflation, while preventing the wealthy from controlling America’s financial markets at the expense of the poor. More than a century later, it’s clear that was all a lie, and thewas designed to transfer wealth from the American people to the government, mostly through the hidden tax of inflation.
Likewise, Americans’ earnings have increased substantially over the last three years, but not in the most meaningful sense, that is, what they can buy. Instead, the opposite has happened, and today’s larger incomes buy less. It’s truly a condemnation of the status quo when even those with seemingly high incomes cannot afford a typical house.
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