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Maybe it needs to be framed in the way that it is an additional bailout for their own companies and interests. Most of that money makes it back into banks, larg
by drawkbox 6y ago
Maybe it needs to be framed in the way that it is an additional bailout for their own companies and interests. Most of that money makes it back into banks, larger companies, wealth, top end etc.
If consumers have purchasing power and small companies buy up their services, supply them, and are where they make their money broadly, maybe their self-interest will align with the actual market.
Our policies already downplay the importance of wages, consumer base purchasing power and just keep piling on the backs of a finite resource. How long do can the wealth extraction keep happening before there is none left and stagnation takes over in a big way? Rich people and large companies can only buy so much, the long tail of small businesses and consumer purchasing power is America, it is under attack.
Real wages and purchasing power have barely budged in 40 years [1].
Worker share of GDP being on a long dwindle down [2] and velocity of money is off a cliff [3], that is why we are so stagnant.
Richest 1% of Americans Close to Surpassing Wealth of Middle Class [4]
Money trickles up and down and all around, but money only trickles where other money is found.
If there isn't purchasing power or demand, that is hard to create. Why are we widdling it down day by day, year by year, decade by decade?
What happens when The Giving Tree is a stump?
[1] https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/ https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us...
[2] https://fred.stlouisfed.org/series/W270RE1A156NBEA https://fred.stlouisfed.org/series/W270RE1A156NBEA
[3] https://fred.stlouisfed.org/series/M2V https://fred.stlouisfed.org/series/M2V
[4] https://www.bloomberg.com/news/articles/2019-11-09/one-percenters-close-to-surpassing-wealth-of-u-s-middle-class https://www.bloomberg.com/news/articles/2019-11-09/one-perce...