Right in one, Badtux – it isn’t knowledge, it is belief. No matter how many times it fails, they will insist on doing again and again.

It will be put down as our lack of belief in Austerity that caused it fail. If only we had clapped louder, it would have worked this time. There is always an excuse because it is holy writ brought up from the depths by Ayn, the naiad of Lake Michigan, and revealed to the profit… prophet Friedrich von Hayek.

Zero lower bound has no meaning in their universe, nor the paradox of thrift. Keynes is the devil who must be avoided and demand need never be considered.

The reality is that the rich have been primarily “saving” their money by creating one asset bubble after another for the past 30 years, ever since Saint Ronny Raygun freed them from having to, like, pay actual *taxes* on their ill-gotten gains. And average hourly wages have been flat or declining ever since. Funny how that works, eh? But oh wait, I’m talking about actual measurable empirical facts here, none of which apply when faith in Austerian theological orthodoxy is the only thing that counts :twisted:.

– Badtux the Snarky Penguin

Always follow the money. That’s how you find out what’s really going on and who is calling the shots.

People don’t seem to understand that Wall Street makes it money from transactions, so it doesn’t really care whether the market goes up or down, only that it changes, which means people are buying and selling. There is nothing a broker hates more than people who actually invest, i.e. they buy a stock and put the certificates away for years, rather than leaving them with the broker so they can be sold quickly. They don’t need the computers to invest, they need them to gamble.

Too bad others don’t put two and two together so easily.

It actually hasn’t been a mystery for almost three decades as to what the rich do to increase their net worth.

Maybe the middle class will finally figure this out?

That is, unless another ass captures their attention on the boob tube first.

Kudos for your efforts!

S

They aren’t spending or investing the tax cuts, they are “stuffing the money in their mattresses”, a lot of this in the form of Treasury bills. They don’t listen to the pundits that are always wrong, or to fools like Greenspan, who was shocked to discover that the financial sector was filled with a greedy criminal class
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