Janet Yellen Declares Economy Has Achieved ‘Soft Landing’ – Which Really Means Top 1% Get Richer And You Inherit The Crunch

What we are seeing now I think we can describe as a soft landing, and my hope is that it will continue.

Yellen said

https://www.youtube.com/watch?v=YYpg3YjHD1M

SEE: US Treasurer Janet Yellen Finally Says ‘I Was Wrong’ About Inflation

Though the claims of hitting this so-called soft landing give off the feelings of a cushiness, that the economy is basically smooth sailing and most things are generally in order – “soft landing,” like most buzzwords nowadays (especially when spoken of in the media) they carry the true baggage of what is really meant by these words.

In this case, “soft landing” is really just a cushy way of saying the super well-off and 1%’ers are poised to get richer, and keep doing business as usual; while the little guy get to eat all the inflation and costs of the emergency landing.

Credit News published an article about this last week, which explains in part:

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The U.S. stock market has returned to all-time highs, but that doesn’t mean Americans are better off financially, according to Sven Henrich, market analyst and founder of Northman Trader.

In a recent thread on X (formerly Twitter), Henrich said gains in the stock market don’t benefit Americans equally. You can thank the Fed for that, he implied.

Soft landing means the top 1% gets record stock prices while you get stuck with the most unaffordable housing market ever, permanent price increases & record credit card debt. But you get to keep your job and have to work longer to pay it all off.

He said

The term “soft landing” refers to the Fed’s coordinated cooling of the economy through higher interest rates, with the goal of reducing inflation. Even by the Fed’s own admission, the central bank is willing to sacrifice job growth in pursuit of this mandate.

SEE: Chicago Federal Reserve President Charles Evans Says They Want To Stop Inflation Even If People Are Forced To Lose Their Jobs

As the Fed’s interest rate policy punished job seekers, first-time homebuyers, and credit card holders, investors enjoyed record stock prices—with the S&P 500 and Dow recently setting records for the first time in two years.

As the Institute for Policy Studies (IPS) shows, the top 1% benefits disproportionately from gains in the stock market. The think-tank recently reported that the wealthiest 1% of Americans own 54% of public stocks, up from 40% in 2002.

“The U.S. stock market is where major wealth gains have been achieved,” wrote Chuck Collins, a director with the IPS.

And while more Americans own stocks today, the idea of a “democratized stock market” is largely a myth because wealth is still largely concentrated at the top, he said.

One of the main reasons why the rich get richer is that those who own assets actually benefit from inflation—unlike the average American, who gets footed the bill.

One of the main reasons why the rich get richer and the poor gets poorer is that—unlike the average American—those who own assets actually benefit from inflation. That’s because inflation isn’t about rising prices of goods and services. Inflation also pushes up asset prices, also known as “asset inflation.”

In fact, investors who own real estate, stocks, and other assets have seen their wealth soar since the pandemic. That’s largely a product of asset price inflation, as more dollars chase fewer goods.

SEE: Federal Reserve Admits ‘We Face A Possible Dollar Inflation Uncertainty Nightmare’

[S]ince the top 10% hold nearly 90% of the assets, they benefit the most from all this related asset price inflation.

Indeed, the skew is so large, with the top 1% benefitting the most, the end result is ever-widening wealth inequality. Central banks drive this.

Henrich wrote in May 2023.

[…] While prices aren’t growing 9.1% year-over-year, Americans are still living with the cumulative price increases since the start of Covid.

In practice, Americans “shouldn’t expect prices on goods and services to return to pre-Covid levels,” said Andy Baxley, a senior financial planner at The Planning Center, a Chicago-based financial advisory.

“Consumers waiting for prices to come down before making a big purchase may be disappointed,” he said.

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AUTHOR COMMENTARY

Go back to the articles I wrote back in late-2021 and 2022, with the talks of rate hikes supposed to bring inflation back down; but we had covered that nothing could be farther from the truth. It was never about that: it was about cutting off the availability of credit to Americans, small and medium business, and thereby forcing them to pay more and shuttering their doors; which is exactly what has happened, hence Yellen’s celebratory declaration of a “soft landing.”

The game this entire time was to destroy people financially and the broader international economies, which was initiated in 2020: that was the whole point of the lockdowns and Covid measures (and the vaccines, of course). All this deep planning and scheming was all about trying to make sure they could squeeze the plebs as tight as they could without the bottom falling out (yet), and making sure the elites and 1% are protected.

Now that has been basically achieved, per the words of Janet Yellen. The 1% and elites will only get richer and the poorer will get poorer, in this current framework. They are now “untouchable,” financially speaking; and it is why the media and globalists are getting so bold in saying they want depopulation. They have achieved that status. Yeah, some people are going to become very lucky and move up some rungs in this coming collapse (Proverbs 13:21-22; Psalms 49:10-11), but most people will be totally finished.

This is what I have been harping on since I started The WinePress, that the central banks were working and succeeding in finally becoming the buyers and lenders of last resort. Now they got it.

The rich ruleth over the poor, and the borrower is servant to the lender.

Proverbs 22:7

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[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).

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