From Zero Hedge

 

1913 Just Happens To Be The Year Of The Fed’s Creation … Co-incidence ?

 

” The Fed claims it can generate a “recovery.” It cannot. The Fed’s devaluation of our currency is the very reason why the economy is a disaster.

According to the NY Times the average net worth for Middle class Americans in 2010 was 6% lower adjusted for inflation than their average net worth in 1989.

As the articles notes, housing costs 56% more than in 1989, our of pocket healthcare expenses rose 155%, college expenses are up in the double digits

The Fed is responsible for the Dollar devaluation that caused this. The Fed is the one that eviscerated the Middle Class. Its policies have lowered the quality of life for Americans. Period. End of story.”