. . .“Nobody is actually starving. The hobos, for example, are better fed than they have ever been. Hobos are eating well, in fact one had ten meals in a single day.”. . .

...At some point this will become very political. Everybody knows that the wealthy have in fact been bailed out. Part of the purpose of quantitative easing was to raise asset prices, in the hope that this would course through the economy – and ultimately trickle down. The rich have benefitted enormously from federal action. Bond holders facing stiff losses on bank securities, or Fannie and Freddie bonds, and so forth, have been protected by the Fed and the Treasury. . .