[spaetzleesser]

“ Asset owners should be the ones taking the hit since they have been backstopped for far longer and are in a much better financial position to deal with it. But the asset owner class is also the one running the country and its tough to imagine them doing something against their short-term self interest.”

Very true. The Fed pretty much exclusively worries about asset owners and how to drive up asset prices even more. And most people in political or business leadership are asset owners.

I don’t think this will end well. Either we will become a society of super rich people that live separately from a large underclass or there will be a revolution at some point.