Innis

The language is the first instrument of the crime. Quantitative easing. Liquidity injection. Stimulus. These words are chosen to describe a process in terms of what it produces rather than what it takes, and what it takes is from people who will not know until years later, if they ever know, that they were the ones paying. The grandmother watching her savings lose ground blames prices, which have risen, not money, which has fallen. The young couple finds the house beyond them and figures the market is hot, which it is, because the money looking for a place to go has to go somewhere, and it goes to assets, and the people who hold assets feel rich, and the people trying to become people who hold assets fall further behind, and no hand is visible anywhere in this arrangement, and that is not an accident of the system. It is the system.