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Deepening crisis traps America's have-nots

By Implode-Explode Heavy Industries

``Cartier and Louis Vuitton have helped boost the luxury goods stock index by almost 50pc since October. Yet Best Buy, Target, and Walmart have languished. Such is the blighted fruit of Federal Reserve policy. The Fed no longer even denies that the purpose of its latest blast of bond purchases, or QE2, is to drive up Wall Street, perhaps because it has so signally failed to achieve its other purpose of driving down borrowing costs. ''

Full post as published by Mortgage Lender Implode-o-Meter on January 11, 2011 (boomark / email).