The Fed has been shoveling money into Wall Street faster than a blackgang on a China clipper. All the excess liquidity practically given to banks at super-low interests rates is going into the stock market since banks are not lending to consumers or businesses. What the wise guys forget is that 70% of GDP is attributable to consumption, and with Depression level unemployment, consumption is collapsing. 49% of working age 'Mericans are not working, a tragic fact the number crunchers at the Labor Department hide with bullshit statistics. Since March 11th the Fed has printed 2.78 trillion to inflate asset prices and benefit their owners. As Wolf Richter explains, If the Fed had spread that $2.78 trillion equally over the 130 million households in the US, each household would have received $21,426 – welcome help in this crisis for less-well-off households. But this was not for them. It was helicopter money for Wall Street and asset holders.
Total domination!