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Thread: The economic recovery turns 2: Feel better yet?

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by apdst View Post
    Trickle down economics isn't just about rich people spending money.
    Trickle down theory starts at the top, and as the money trickles down to the middle class, the middle class also spends it and it trickles down to the poor.

    Trickle down does not work, as not enough money is trickling down. The middle class has been borrowing money to support consumption over the last 30 years, now they are tapped out. Not as much money is trickling down from the middle class and the rich are not spending enough to make up the difference, hence the economic slowdown and the lack of jobs
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    Re: The economic recovery turns 2: Feel better yet?

    Voodoo economics only works if you place the pins in just the right place, and say your incantations properly.
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    Re: The economic recovery turns 2: Feel better yet?

    Deragatory terms like voodoo economics and trickle-down theory miss the economic theory behind the idea. What characterizes the rich versus the poor? It's more than income, it's that typically the rich know how to make their money grow while the poor live beyond their means. How do the rich make their money grow? They invest in companies which allows them to expand and furnish new jobs. The poor do not know how to do that. So if you had to choose between giving $1000 to a rich man or a poor man, we're all better off giving it to a rich man. Why? The rich man will invest and provide new jobs. This means more, better paying jobs for the poor and lower prices for everyone.

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by phattonez View Post
    Deragatory terms like voodoo economics and trickle-down theory miss the economic theory behind the idea. What characterizes the rich versus the poor? It's more than income, it's that typically the rich know how to make their money grow while the poor live beyond their means. How do the rich make their money grow? They invest in companies which allows them to expand and furnish new jobs. The poor do not know how to do that. So if you had to choose between giving $1000 to a rich man or a poor man, we're all better off giving it to a rich man. Why? The rich man will invest and provide new jobs. This means more, better paying jobs for the poor and lower prices for everyone.
    Sorry, but that isn't the right incantation.

    Poor people don't know how to handle money, they just go out and blow it on rent and food, after all, so we're much better off when the wealthy have plenty of it to invest in private jets and yachts. Sure, that's the ticket, sure.

    No, 10,000 people with a hundred grand each invested in mutual funds is a whole lot more investment than one person with ten million, right? Do the math and see. It is not the rich that is the backbone of the economy, nor the poor. It is the shrinking middle class.
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by Lord Tammerlain View Post
    Trickle down theory starts at the top, and as the money trickles down to the middle class, the middle class also spends it and it trickles down to the poor.

    Trickle down does not work, as not enough money is trickling down. The middle class has been borrowing money to support consumption over the last 30 years, now they are tapped out. Not as much money is trickling down from the middle class and the rich are not spending enough to make up the difference, hence the economic slowdown and the lack of jobs
    Lord T, I think we should modify that. Corporate trickledown does work as corporations ramp up hiring and materials purchases to deal with increased demand. What does not work is rich individual trickle down.
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by Dittohead not! View Post
    Sorry, but that isn't the right incantation.

    Poor people don't know how to handle money, they just go out and blow it on rent and food
    Doesn't that suggest that the poor have a good grasp on their money? Prioritizing it to meet basic needs? Well, some of them at least.
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by obvious Child View Post
    Doesn't that suggest that the poor have a good grasp on their money? Prioritizing it to meet basic needs? Well, some of them at least.
    True. The ones who take what little they have to a casino hoping for instant riches don't have such a good grasp on finances.
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by obvious Child View Post
    Doesn't that suggest that the poor have a good grasp on their money? Prioritizing it to meet basic needs? Well, some of them at least.
    But according to studies, the poor typically don't have a good handle on their money, which is the source of their poverty.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by obvious Child View Post
    Lord T, I think we should modify that. Corporate trickledown does work as corporations ramp up hiring and materials purchases to deal with increased demand. What does not work is rich individual trickle down.
    Quite true

    Companies dont tend to hold on to extra wealth (capital) and either use it to expand or put it back in owners pockets (dividends or share buybacks)
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by Dittohead not! View Post
    Sorry, but that isn't the right incantation.

    Poor people don't know how to handle money, they just go out and blow it on rent and food, after all, so we're much better off when the wealthy have plenty of it to invest in private jets and yachts. Sure, that's the ticket, sure.

    No, 10,000 people with a hundred grand each invested in mutual funds is a whole lot more investment than one person with ten million, right? Do the math and see. It is not the rich that is the backbone of the economy, nor the poor. It is the shrinking middle class.
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