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Asher Elderman, the inspiration for Gordon Gekko in Oliver Stone's "Wall Street" movie has indicated his choice for President of the US is none other than Bernie Sanders while on CNBC's program "Fast Money".
I have often said before that the economy cannot grow when nearly all income gains are going to a fraction of 1% of the population. The very wealthy do not spend and consume like the poor and middle class do. The velocity of our money has been terribly low since the recession, as 90% of Americans have seen their incomes in stagnation or decline.
“When you have the top one percent getting money, they spend five-ten percent of what they earn. When you have the lower end of the economy getting money, they spend a hundred, or a hundred and ten percent of what they earn. As you’ve had a transfer of wealth to the top, and a transfer of income to the top, you have a shrinking consumer base, basically, and you have a shrinking velocity of money.
Bernie is the only person out there who I think is talking at all about both fiscal stimulation and banking rules that will get the banks to begin to generate lending again as opposed to speculation.
So from an economic point of view, it’s straight-forward”
For those "Trickle downers" who still cling to the many decades old rhetoric..Finally, someone speaks out from a place of authority that validates what so many have been saying for many years!!
Legislation that constantly goes to favour the corporations, rich does NOT trickle down..In fact..over these years..coupled with cutting back of "Safety Net" has exacerbated the divide exponentially!!
Some People and Politicians love to demonize those who struggle ( for a multitude reasons) as being lazy..takers..freeloaders have somehow swallowed the Kool-Aid" preached by the "Trickle Downers" for decades. Yet many of these same advocates that demonize are in fact collecting those "Safety Net" perks..Kind of makes one's head spin??
Pay less taxes..but expect, paved roads, safe bridges, clean water, $$ to help post storm/flood/tornado/earthquake...BUT say they are deserving as I pay taxes?????? Gees!!
For those "Trickle downers" who still cling to the many decades old rhetoric..Finally, someone speaks out from a place of authority that validates what so many have been saying for many years!!
Legislation that constantly goes to favour the corporations, rich does NOT trickle down..In fact..over these years..coupled with cutting back of "Safety Net" has exacerbated the divide exponentially!!
Some People and Politicians love to demonize those who struggle ( for a multitude reasons) as being lazy..takers..freeloaders have somehow swallowed the Kool-Aid" preached by the "Trickle Downers" for decades. Yet many of these same advocates that demonize are in fact collecting those "Safety Net" perks..Kind of makes one's head spin??
Pay less taxes..but expect, paved roads, safe bridges, clean water, $$ to help post storm/flood/tornado/earthquake...BUT say they are deserving as I pay taxes?????? Gees!!
Yes, exactly. Trillions and Trillions in made up money created by the Fed since 2009-unprecedented-and all handed over to less than 1% of the population, yet the poor are "freeloaders"? I don't think so.
The "too big to fail" banks that crashed the economy have only grown larger and to control more of our economy since we bailed them out. We are in an even more dangerous position today. They need to be broken up-period.
When even Gordon Gekko himself urges the economic royalists to knock it off and start paying attention to the needs of the people, you know its bad.
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