Quote:
Originally Posted by zeek
“I want people to feel uncomfortable. I want them to have to answer people at home who said, how come you were against President Obama’s deficits and then how come you’re for Republican deficits? Isn’t that the very definition of intellectual dishonesty If you were against President Obama’s deficits, and now you’re for the Republican deficits, isn’t that the very definition of hypocrisy?”
The anxiety that has gripped the market this week appeared to escalate Thursday just as President Donald Trump and lawmakers were setting the government up for annual budget deficits that would routinely exceed $1 trillion. The higher that deficits rise, the more likely it is that interest rates will surge, too, and undercut corporate profits, stock prices, consumer spending and the overall economy.
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The big one is consumer spending. We discovered this with Henry Ford and the $5 day. When he gave his workers a big fat raise it gave them enough money to buy his cars. The only way we have seen wealth increase for the richest is if it also increases for the poorest. Many economists believe this is what caused the great depression, salaries didn't rise fast enough to keep up with production.