The Empire Strikes Out! NY State Manufacturing Index Collapses To -32.9 In January (Wells Fargo Pulling Out Of Mortgage Market)

The Empire Strikes Out! No, not Klaus Schwab and the World Economic Forum, but the New York State Manufacturing index. For January, the index fell to -32.9.

Then we have Wells Fargo and their crashing mortgage originiations.

Everytime I see Klaus Schwab’s face, I think of Emperor Palpatine from Star Wars.

Who Benefits The Most From Federal Reserve Stimulypto? (Hint: NOT The Bottom 50% Of Population)

Following the financial crisis of 2008/2009, The Federal Reserve began their dramatic purchase of assets such as Treasuries and Agency mortgage-backed securities (AgencyMBS). And then Covid struck and The Fed went berserk with asset purchases.

So, who benefited the most? The top 1% or the bottom 50%?

Answer? The top 1%. The share of total net worth spiked dramatically after the Fed infusion.

Even the bottom 50% benefited with The Fed’s Covid stimylpto, but no where near how the top 1% benefited.

World Economic Forum’s elitist Klaus Schwab approves of this message!

On an unrelated note, the US Treasury yield curve is strongly UPWARD sloping, while Russia’s and Ukraine’s yield curves are inverted and collapsing.