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For trickle down to work the rich need to buy sufficient amount of services. Unfortunately there is an oversupply of low skilled labor and thus not enough of th
by heisenbit 10y ago
For trickle down to work the rich need to buy sufficient amount of services. Unfortunately there is an oversupply of low skilled labor and thus not enough of these jobs (how much can 76000 people consume) and no bargaining power.
The middle class as a broad wealth transmission belt has been shrinking and is under pressure from low interest on retirement accounts, high educational cost and home financing costs.
As the money is pumped into the economy from the banking/financial side the gap is increasing continuously.