If all the money is going to singular people who cannot possibly spend it rather than to wage increases for workers and middle managers who can, then it is hurting the economy. Fiat currencies gain their value through the flow of money, not the stagnation of it. It’s not complicated.
This entire fucking system is only 42 years old, and all the failures of it have become apparent in that time. There is no defense of it. We had proven in the decades before Reagan that economies grew when everyone could participate and economic power was not so outlandishly stratified. The only other difference between then and now was that blacks had no economic power at all then; today they are an entire economic demographic that could potentially contribute to the wealth of society as a whole.
Wealth hoarding is BAD. It is a BAD BAD THING. It is INDEFENSIBLE because it is a VERY BAD THING. Giving free things to rich people and charging everyone else is MORALLY WRONG. Doing favors for people because they are wealthy is MORALLY WRONG. Giving tax breaks to people who do not need them and do nothing with them is BAD ECONOMIC POLICY. This is a proven fact. It is not up for debate. The results are in.
If all the money is going to singular people who cannot possibly spend it rather than to wage increases for workers and middle managers who can, then it is hurting the economy. Fiat currencies gain their value through the flow of money, not the stagnation of it. It’s not complicated.
This entire fucking system is only 42 years old, and all the failures of it have become apparent in that time. There is no defense of it. We had proven in the decades before Reagan that economies grew when everyone could participate and economic power was not so outlandishly stratified. The only other difference between then and now was that blacks had no economic power at all then; today they are an entire economic demographic that could potentially contribute to the wealth of society as a whole.
Wealth hoarding is BAD. It is a BAD BAD THING. It is INDEFENSIBLE because it is a VERY BAD THING. Giving free things to rich people and charging everyone else is MORALLY WRONG. Doing favors for people because they are wealthy is MORALLY WRONG. Giving tax breaks to people who do not need them and do nothing with them is BAD ECONOMIC POLICY. This is a proven fact. It is not up for debate. The results are in.