WTF? Trickle down economics.... again?!?

[Haole Girl]

Just heard Rick Newman, chief business correspondent U.S. News & World Report, on MSNBC say the best idea anybody's come up with so far is to "deal with the banks, it will trickle down to the consumers."

How many times must we go through this shit?

It didn't work in the 80's and it isn't going to work now.

I think I'll scream if I hear the words "trickle down" one more time.

:rant:

[av8rdave]

1. Trickle down (aka supply side) economics is a failed theory

Why we've ridden that doomed train all these years is beyond me.

[Haole Girl]

2. I just don't understand why we repeat the same mistakes over & over again

It's so frustrating.

[av8rdave]

3. Because so many worship Reagan, and supply side was a huge part of his philosophy

[Phred42]

4. Like Heroin addicts it will take them a long time to kick this destructive habit

[Haole Girl]

5. Greed is probably a stronger addiction than even heroin

:-(

[fishbulb703]

9. I agree, the pervasive attitude among CEOs seems to be contempt for us.

You just have to look at AIG's actions after they were bailed out by taxpayer money.

[Phred42]

15. The thing is that we should be treating them like the Addicts they are

and we are not.

They are deranged and dangerous - we need to recognize, and act on, THAT.

[Winterblues]

6. The story about the most expensive Super Bowl in history is a good example

What used to be the people's sports have now become for the elite and well to do. $1000.00 a ticket is not what the average "Joe the Plumber" can afford. There is no trickle down for him..He is being cut out of all the things designed for him because of the accumulation of wealth at the top. Prices at events like this are geared toward where the money is and it ain't with "Joe the Plumber"

[Haole Girl]

8. We are indeed becoming like other countries

I feel, often, like we are witnessing the disappearance of the middle class... right before our eyes.

[riverdale]

17. You can't buy a ticket for $1000 though

We really wanted to get tickets for the SB in Phoenix last year. The only way to get one is to buy part of a "package" for around five grand.

[Dr.Phool]

7. Trickle down used to be refered to as "Horse and Sparrow" in the 19th & early 20th century.

The idea being that if you fed enough oats to the horse, some would make it through to feed the sparrows.

In other words, they get the oats, and we can eat the left-over shit.

http://en.wikipedia.org/wiki/Trickle_down_economics

The ideas derided as "trickle-down economics" are often seen as a major rhetorical variant of "what's good for business and the rich is good for the country." In this form they have been ridiculed by Franklin Delano Roosevelt as "toryism." The economist John Kenneth Galbraith noted that "trickle-down economics" had been tried before in the United States in the 1890s under the name "horse and sparrow theory." He wrote, "Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows." Galbraith claimed that the horse and sparrow theory was partly to blame for the Panic of 1896.<19>

[Haole Girl]

11. "Eat the left-over shit."

How appropriate.

[asjr]

10. At my age the only thing that trickles down

is the pee going down my legs.

[Haole Girl]

12. lol!

Thanks for the laugh. I needed that! :D

[ashling]

13. Prosperity just "trickles" down, but

when it's Pain, it pours.

[Haole Girl]

19. I know what you mean about the pouring

:hi:

[OnionPatch]

14. What do you mean *again*? We never left it, did we?

Clinton might have paused it a bit in the nineties, but piss-on-you economics has been with us since Saint Ronny ushered it in.

[Haole Girl]

20. You know..

sometimes I feel like the Clinton years were simply a pause, too. sigh.

[dbonds]

16. I am tired of being Trickled on.

The wealthy get rich and the poor get poorer.

[Haole Girl]

21. I'm tired of it too. nt

[On the Road]

18. This One Is Not Trickle Down Economics

It's stating the obvious that an economy which loses its credit market cannot survive.

[Haole Girl]

22. Talked with a woman who was 83 the other day...

she remembered he mother handing out food to people in the streets who were begging for it. She was truly frightened it is happening again.

:scared:

[On the Road]

23. If the Banks are Partly Nationalized

pumping money into the banks is not giving to the rich, it's supporting public-private credit sector.

A small part of the upper class has profited from the current crisis, but the majority has taken a big hit on stocks, real estate, bonuses, and other forms of income and wealth. (That's fine with me.)

It's the small businesspeople and everyday employee who need the credit market to keep out of bankruptcy or poverty.