The Fed's policy of zero real interest rates gives large and rich institutionsl investors huge advantages over the typical investor. And by driving up house prices, it' prices marginal families out of the market. The tragedy is that when the Federal superstate intervenes it intervenes only on behalf of the large corporatist interests that have the scale and wherewithal to play the Empire scale political game. Little people can only play by combining with millions of others in a corporatist form. This is how a society of free people is organized so that the politicians can stitch up the rackets and make them predictable.
Corporatism is just domestic fascism and it's what's for Dinner in Obama's America.
Original article here.
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