As a matter of fact 77% of Americans have no benefit from the growth of the stock market.
But household expenditures are growing decently. 5-7 back in Moscow, food prices were higher, than in New York, now there is practically no difference.
Looks like, that Bernanke does not create jobs on Wall Street.
Consumers are mainly concerned with the price of gasoline, goods and food, and they occupy an increasing share of income.
It should be noted, that the pension funds are happy, but there was a decent deficit, but this does not make most consumers cold ,not hot.
Until now I cannot see, как можно найти прямую корреляцию действий FED( purchase of securities, QE) and job creation. In my opinion, there is a process of self-healing with feeding primary dealers. 95% in their pockets and 5% somewhere seeps into the real economy.
“Putting a hat on your head, to keep your feet warm”
