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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (719064)6/2/2013 7:33:22 PM
From: combjelly  Read Replies (1) of 1580049
 
The economy is zero sum at any given point in time. Granted, the economy can expand, but that requires economic activity. Given our economy is roughly 70% consumer spending, that is what drives our economic activity. When the only income groups who participate in the economic growth are in the top brackets, you have a problem. Because they have enough excess funds to invest much of their income. The lower brackets tend to spend the majority of their income, so they are what drives our economy. There is an imbalance.

Sure, investment is needed. But we have a surplus of that. The result is we have more and more funds chasing riskier and riskier investments. And that always leads to a collapse.

Why do wingnuts have such a weak grasp of economics?
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