3 ms·
There's definitely evidence of huge pools of liquid capital and probably an expression of bad economic policy i.e. QE vs. minimum wage. I suggest there's a tim
by jariel 6y ago
There's definitely evidence of huge pools of liquid capital and probably an expression of bad economic policy i.e. QE vs. minimum wage.
I suggest there's a time for both, but the time as long since passed for a minimum wage hike or other, better demand-side initiatives instead of the supply side economics that have dominated for the last 40 years.
I'm note speaking politically or ideologically, just pragmatically.
That we have people holding 3 jobs with no healthcare in an economy where people are paying $500 for shoes and 'digital art' and other speculative things is just not healthy.
- fermienrico 6y ago> 3 jobs with no healthcare in an economy > $500 for shoes Why are they mutually exclusive? Should people give up luxuries?
- jariel 6y ago? Yes. Paying $500 for shoes you won't wear is less important than food, or making sure that your kid is supported and shows up to class so that we don't have to blame it on the schools.
- fermienrico 6y agoIsn’t that individual responsibility? How can you even stop someone from spending on whatever they want?
- jariel 6y agoWe cant. But we can try to make sure that surpluses are spread rationally, at least to the extent non-market interventions are concerned i.e. supply-side (QE) vs. demand-side fiscal/monetary policy and governance. That there are huge markets for useless things at the same time people are struggling without healthcare is not a positive sign.