Deutsche Bank: The Fed Has Created “Universal Basic Income For The Rich” And Now It Can’t Get Out

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– Deutsche: The Fed Has Created “Universal Basic Income For The Rich” And Now It Can’t Get Out:

“The accommodation and QE have acted as a free insurance policy for the owners of risk, which, given the demographics of stock market participation, in effect has functioned as universal basic income for the rich. It is not difficult to see how disruptive unwind of stimulus could become. Clearly, in this context risk has become a binding constraint”…

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