Reaganomics has never worked
reply> Reaganomics has never worked
replyDepends how you look at it.
Trickle down economics has never worked in the way it was advertised to the masses, but it worked fantastically well for the people who pushed (and continue to push) for it.
Sure, because it all trickles into their pockets.
replyproblem today is that there is no "sink" for money to go to when it flows upwards. we have resorted to raising interest rates to curb inflation, but that doesn't fix the problem, it just gives them an alternative income source (bonds/fixed income)
replyI'm not a hard socialist or anything, but the economics don't make sense. if there's cheap credit and the money supply perpetually expands without a sink, of course people with the most capital will just compound their wealth.
so much of the "economy" orbits around the capital markets and number going up. it's getting detached from reality. or maybe I'm just missing something.
Yeah it's called wealth transfer and the vast majority is on the wrong end.
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