For those of you who just cannot understand why some of us think that income and wealth inequity leads to deflationary recessions?
The following is one of the outcomes when the consuming class has no money or is too terrified to spend what they have...
And it really doesn't matter how rich or smart or well intentioned the rich are, the monied class cannot revitalize the economy unless there is DEMAND coming from the consuming classes.
What we are seeing in our economy right now is the end game of over 30 years of supply side economics.
Suppy side economic policies are a good thing in some economic circumstances, of course, but when done to excess (as we have been doing) they lead to the economy we have today.
Trickle UP poverty is the result.
The following is one of the outcomes when the consuming class has no money or is too terrified to spend what they have...
He credited stocks' rise to central banks' infusing the global economy with money. He said the so-called velocity of money, the number of times a dollar is spent by consumers, has fallen to a record low in recent months, which he sees as another indicator of underlying weakness.
And it really doesn't matter how rich or smart or well intentioned the rich are, the monied class cannot revitalize the economy unless there is DEMAND coming from the consuming classes.
What we are seeing in our economy right now is the end game of over 30 years of supply side economics.
Suppy side economic policies are a good thing in some economic circumstances, of course, but when done to excess (as we have been doing) they lead to the economy we have today.
Trickle UP poverty is the result.
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