re: Billionaire investor says government should have helped consumers instead of companies

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So it’s the growth of the welfare state that has most caused this and not trickle down economics?


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No?

That whole sentence was talking about a whole separate issue. “Meanwhile” being the key word.

Taxes you have to pay doesn’t depress your wages, just your take home. I was saying combined with the middle class getting a lower portion of US economic production (which was what the graph shows), they get hit by an additional punch of higher taxes and exclusion to supportive programs.

I love how you want to reduce something as complex as this topic as an either/or situation.

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And my point is that those on the lower edge of that ladder, start losing their incentive to stay out of the welfare state - which as you move forward will grow with the next rung, and the next rung who would happily work under a normal scenario, but due to these factors see less and less benefit for that work.

I think trickle down and how a lot of these gdp / productivity increases aren't being passed down in adequate percentages thus helps grow the welfare state.

Your graph shows a 72% increase in median wealth of families until the housing market bubble (dramatically inflated by government mandated and backed housing loans to low income families) popped.

Now the entire 90’s could be said to be fake because of the housing bubble but still, there would have been some growth, maybe just not as much

That too.

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How much do you think the coders for Amazon’s front end infrastructure are making?

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How much do you think they should be making?

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this top-down idea that trickle-down economics work," Palihapitiya said. "It doesn't work anymore."

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So trickle-down economics worked in the past. All of a sudden, he says it doesn't work now.

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Fed has pumped liquidity into the financial system to shore up lending. "It makes it very hard to be anything except long the market," Palihapitiya said.

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"Would I love to be isolating certain things that I think are not set up for success, or trying to buy cheap things? Sure, but it's not possible right now," he continued.

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And now he exposes his agenda. Trickle-down doesn't help this guy in evaluating companies to buy cheap and he is pissed. OK. you poor bastard. I get it now.

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Didn't get NEAR as much as the companies so get outta here with that shite

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I don't understand this. Companies got money ...that curtailed layoffs ( couldn't be used for bonuses or buybacks) so...people may not have gotten a govt check or as much as companies but..still got their work checks

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"It makes it very hard to be anything except long the market,"

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And now he exposes his agenda. Trickle-down doesn't help this guy in evaluating companies to buy cheap and he is pissed. OK. you poor bastard.

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I noticed this too. Heaven forbid it helped the prospects of long players in the market, you know, average people, more than it created enough disruption for rich people to get richer.

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I know this site hates Mark Cuban now, but the idea he said he suggested to the re-opening the country task force was to give all Americans $X on some sort of prepaid card and then have them spend it in a certain time frame or else they forfeit the money. He felt it would be a better direct injection into the economy.


Not sure if it would have worked better, but it at least seems this thought is out there.

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And what stores/businesses would be open during this time frame?

Again, in this scenario we are only really helping the consumer goods industries, which faired well. These guys that don’t seem to believe in trickledown economics seem to think that concentrating capital in certain industries will somehow boost the entire economy.

Meanwhile, local restaurants and bars are still having issues reopening due to restrictions. The only way to save them is to let them open and see what the market does, or give them capital directly to tread water.

Cash flow is what makes the world go round. We need cash to move to grow the economy, so freezing access to certain markets will be the biggest barrier to economic growth and tax base.

His entire rant is based on the fact that he couldn’t use his billions to buy undervalued stocks more efficiently. He doesn’t give a shite about the average American.

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The fact is the fruits of the booms of the US economy doesn’t go to the middle class backbone anymore like it did.

This isn’t really an opinion or up for interpretation.

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Don't sweat it, they don't know any better. They aren't educated in economics. They've been entertained by pseudo-intellectuals who depend upon their imbecility to garner votes in order to keep the 'game' running the way it has for the last 40 years. Getting a large group of people to vote against their own best-interest in an open democracy is quite a feat.

What's REALLY funny is when every thread on this place about taxpayer money being misspent is filled with rants about welfare queens, dindu's, etc., without a sentence spent on the fact that our tax money is basically being funneled directly to rich people and corporations who themselves pay little in taxes...AKA, the REAL socialist aspect of this country.