Faber, editor of the “Gloom, Boom & Doom Report,”believes that rising American inequality is a result of the Fed’s actions”. He also explains that repeated Fed intervention has led to higher inflation in necessities like housing and oil which further harm and diminish the standard of living of American households. Here is a direct video link.
A recent AP/Equilar study found that chief executives now make about 257 times the average worker’s salary, up sharply from 181 times in 2009.
Extreme forms of inequality achieved by huge jumps in income for the world’s highest-paid are becoming a serious macroeconomic issue, author Thomas Piketty told CNBC on Tuesday.
“There’s no problem with inequality per se. The problem is when inequality gets too extreme and if the top is rising three times faster than the average, you can see that this cannot continue forever,” Piketty said.
“At some point this will have to stop and we should try to have more transparency about income and wealth.”
“People should not be afraid of my book. They should be afraid of the reality and they should try to see how we can deal with that,” Piketty said. Here is a direct video link.
Following yesterday’s Senate hearings on High Frequency Trading (HFT) and conflicts of interest in the current broker/exchange payment structures, IEX Group president & CEO Brad Katsuyama shares his experience and impression of probable outcomes. Here is a direct video link.
Cory’s Chart Corner
