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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (799939)	8/6/2014 12:46:13 PM
From: combjelly	Respond to of 1577893

Lawrence O’Donnell: Wall Street figured out that income inequality is bad for Wall Street Wait, didn't our resident economics experts here assure us that income inequality is beneficial to the economy? They can't be, I don't know, wrong about that, could they?

To: bentway who wrote (799939)	8/6/2014 12:55:19 PM
From: i-node	Read Replies (3) \| Respond to of 1577893

“If you have all the houses you think you need and all the yachts you think you need and all the private planes you think you need and you still have tens of millions of dollars left over, and tens of millions of dollars of new income coming in next year, then very little of your new income is going to be used for new spending, and the economy always needs new spending,” he said. “And in the lower end of the income scale, where people have no savings and not enough money to make ends meet, they have to cut back on their spending. Long-term, those two conditions can strangle the economy.” The fundamental flaw with that argument is that money creates investment and investment creates innovation. Innovation, more than any other thing, creates demand. And without investment, all the demand in the world does not help the economy.