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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (108780)	2/23/2010 3:55:44 PM
From: tuck	Read Replies (2) \| Respond to of 116555

Don't get me wrong, I'm as upset about the union looting as anyone, but . . . does any trickle down economics apply here? What are the fat unions doing with all this money? Does it have a better multiplier effect than government spending? It's a redistribution of wealth, creating a new middle class, but it does not disappear. Here's my modest proposal for harnessing the power of this new class: Incent these newly wealthy union members to buy foreclosures online, sucking up shadow inventory, and resuscitating the housing market, ultimately leading to more jobs and bailing out banks who swoop in and hit the new owners with superior liens. Cheers, Tuck