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View Diary: New Evidence that the Rich Have Prospered while the Poor Got Poorer (9 comments)

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  •  Not Just Consumer Spending But Investing/ Gambling (3+ / 0-)
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    NoBlueSkies, Greyhound, FloridaSNMOM

    The rich hold too much wealth right now.

    We all see that in anemic consumer spending, but the other side of that same coin is that there is nothing useful for all that wealth of the rich to invest in  --because the market has no important ability to grow in consumption to purchase the production from investment.

    SO all the rich can do with their wealth is gamble it on the behavior of other rich people.

    That wouldn't be too terrible except that they have we the people underwriting many of the assets they gamble with, so they can harvest the profits from bubbles, while we have to make good their losses on the busts.

    A huge amount of wealth needs to be culled out of the rich so that they don't have enough surplus to gamble with, not on any scale big enough to rock economies.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Mon Aug 25, 2014 at 09:09:03 AM PDT

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