Our Economy Is Going to Keep Tanking Until We Stop Shoveling Billions to Rich People

[katty]

more:
http://www.alternet.org/workplace/140394/our_economy_is_going_to_keep_tanking_until_we_stop_shoveling_billions_to_rich_people/

Our Economy Is Going to Keep Tanking Until We Stop Shoveling Billions to Rich People

By Pam Martens, CounterPunch. Posted June 2, 2009.

There's a cycle going on here: if you don't put money in consumers' hands, you get repetitive cycles of layoffs and growing unemployment.

Stop Shoveling Billions to Rich People

There's a cycle going on here: if you don't put money in consumers' hands, you get repetitive cycles of layoffs and growing unemployment. The brightest minds in this country are unwilling to connect the cause and effect of wealth in too few hands to bankruptcies and a tanking economy.
For the past eight months, we have been a nation focused on bailouts and bankruptcies. For the past ten years, we have been a nation ignoring massive wealth transfer and wealth concentration through a rigged Wall Street.

As simple and clear as this picture is, some of the brightest minds in this country are unwilling to connect the cause and effect of wealth in too few hands to bankruptcies and a tanking economy.

Wealth-deprived consumers can't buy the goods and services being produced. This leads to repetitive cycles of layoffs and growing unemployment which leads to more wealth-deprived consumers leading to more overcapacity in production plants, more layoffs, more shrinking purchasing power.

The accompanying, and equally dangerous, problem is that concentrated wealth stifles the very innovation that is necessary to create new industries, new jobs and lead us out of the downward economic spiral.

[leftstreet]

1. Ah-ha! THAT'S what Shovel-Ready meant n/t

[Vidar]

2. Got that right.

[Eric J in MN]

3. During the 2008 campaign, Al Franken phoned the Ed Schultz Show (radio).

Franken said that a difference between himself and Norm Coleman is that Franken believes in building the economy with gov't policies for people on the bottom while Coleman believes in helping the rich.

[Qot]

4. TARP really fucked us over

[katty]

13. reverse robin hood

[Qot]

16. Exactly

[Mythsaje]

5. This is such a "no-duh" proposition, I can't believe our "leaders" don't get it.

People spend money, corporations hoard it. DUH.

[abq e streeter]

6. Of course, what's frightening is that they absolutely DO get it

and they have no intention of changing a thing. A frightened population ( i.e frightened of losing their jobs, health coverage etc) is an easily controlled population

[Mythsaje]

7. Ideally, for them, at least.

It becomes moot if so many people lose their jobs they can't afford it anyway.

They're pouring gasoline around hoping that nothing strikes a spark.

[truedelphi]

9. yes, they do get it. Starting with the President

And all the way down to most Congress people.

[katty]

14. exactly

[bvar22]

8. !

NOW we have Your Children’s Money too !!!
And there is not a fucking thing you can do about it!
Now THIS is “Post-Partisanship” !
Better get used to it!!
Hahahahahahahahaha!

[pscot]

10. No. No. It will trickle down.

Just wait. You'll see. Really.

[rhett o rick]

11. I felt a little trickle myself, but afraid to ask what it was. nm

[abq e streeter]

15. As Jim Hightower has said: Wall Street is whizzing, unfortunately its whizzing on us

[katty]

12. cap credit cards-NOW-release funds for employment/projectsNOW