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View Diary: D.C. minimum wage proposal looks like an attempt to distract from big box living wage veto (20 comments)

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  •  I'm thinking perhaps we should counter the (0+ / 0-)

    saving money meme with saving time. Since money is actually infinite (we can make as much as we need), what's really more important is not having the limited time we all have on earth wasted by people jerking us around.
    It's not actually possible to save time, of course, but it is possible not to waste it. And it's especially possible not to have it wasted for us by peddling shoddy products that don't work as advertised and have to be sent to the dump before their time.
    I actually disagree somewhat that the economic gap is a matter of inadequate income. More likely, the problem lies with the people who collect and collect and seem increasingly reluctant to spend. They are the people, along with a rationing Congress, who account for the fact that our currency is no longer moving along nicely in the economic current, but seems stuck in the backwater.
    It's not the volume, it's the velocity, as this graph from the Fed attests.

    There are two other kinds of money, M1 and M2, and their velocity is just as sluggish. It's as if a big dam had been built and while the hinterland floods, there's only a trickle for down-stream. That, btw, would seem to be the real import of the "trickle" Reagan was so happy about. Note that on his watch, the dollar stopped flowing and has been on a sluggish trajectory ever since.

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