There is no question monetary policy is politicized, money IS politics. Money used to be a method of exchange value for value, but now it is worthless exchange in simulation of this. If that was not true, the article would never have been written. The stocks go up because there is more money to be thrown around, and the poor and middle class do not have money to throw around, so it is obvious who the winner is. The class warfare issue comes in when you have a government that serves specific interest groups. Who do they really serve today? Not you or me!

To me they're trying to shoehorn a monetary policy issue into a class conflict issue. If you buy into the class-conflict argument, it makes the whole idea of having a central bank influencing monetary policy look bad. It makes it sound like the policy will always be politicized, so we're better off not having any monetary policy. I reject this notion. The job of a central bank with monetary authority is not to give people what they want. They've been getting a party going, and they're going to take away the punch bowl just as things get going. They'll say wage earners are feeling too secure in asking for raises, and contractors are raising prices w/o losing customers; we need to curtail that. Then we'll have the opposite class-conflict arguments. The central bank system is working.

I worry about the pain this is going to cause later. When it hits the fan there will be no place to hide.