How about trickle up and not down?.........

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How about trickle up and not down?.........

Post by lzzrdgrrl » Sat Jan 28, 2017 2:15 pm

Charles Hugh Smith has a novel approach for correcting the wealth disparity in the global community and also taking into account the automation of human labour and stagnant economic growth. First, we recognise that 'capital' is a complex subject and is comprised of several elements. Second, that credit is the devil in the woodpile and third, that profit and economic value do not necessarily coincide....... ... fp=0&app=1

If we want to hear more from Charles Hugh Smith, we can move this thread to the PUNDITS board.......'>......
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Re: How about trickle up and not down?.........

Post by SteveFoerster » Sat Jan 28, 2017 4:00 pm

We now have a new form of symbolic capital called cryptocurrencies--"money" that can easily be created in the accounts of people doing useful work, as opposed to being created in the accounts of the already-obscenely wealthy, as we do now.
This is where he loses me. This simply isn't how cryptocurrencies work.

Besides, the people who spend newly "printed" U.S. dollars first are those receiving payments from the federal government. In other words at this point the lion's share of new dollars go to Social Security recipients. (And then smaller sets of recipients like government employees and arms dealers.)
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