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QE2 IS HURTING THE MIDDLE CLASS

This is some great analysis from Jim Bianco at Bianco research.  Mr. Bianco finds that QE2 has no wealth effect on the middle class.  In fact, it HURTS the middle class!   This is also in-line with Robert Shiller’s analysis of the wealth effect.  In essence, this program isn’t going to help the economy via a wealth effect. It is more likely to hurt it.  Ethan Harris of Merrill Lynch makes an alternative case, but doesn’t provide a whole lot of evidence:

(Figure 1)

Viedo attached below:

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