While The Gadfly appreciates the fact that prominent American economists are following Pope Francis' lead and agreeing on the premise that a widening wealth gap is bad for the country, The Gadfly certainly did not need a fucking survey study to be commissioned to tell him so:
December 17
BY CHRISTOPHER S. RUGABERAP Economics Writer
WASHINGTON — The growing gap between the richest Americans and everyone else isn't bad just for individuals.
It's hurting the U.S. economy.
So says a majority of more than three dozen economists surveyed last week by The Associated Press. Their concerns tap into a debate that's intensified as middle-class pay has stagnated while wealthier households have thrived.
A key source of the economists' concern: Higher pay and outsize stock market gains are flowing mainly to affluent Americans. Yet these households spend less of their money than do low - and middle-income consumers who make up most of the population but whose pay is barely rising.
"What you want is a broader spending base," says Scott Brown, chief economist at Raymond James, a financial advisory firm. "You want more people spending money."
Spending by wealthier Americans, given the weight of their dollars, does help drive the economy. But analysts say the economy would be better able to sustain its growth if the riches were more evenly dispersed.
"You want more people spending money."
In the event some of you dear readers did not quite process the meaning of that quote, let's run it by one more time . . .
"You want more people spending money."
Well The Gadfly will be a suck-egg mule! Imagine fucking that!! It's so obviously obvious!!!
You mean to tell The Gadfly that if more Americans had decent jobs that paid them decent wages then that means they would spend those wages buying more useless shit from companies, thus increasing those companies bottom line profits and increasing those company's investor's return on investment, therefore boosting the overall health of the economy and ultimately improving life for a great many more U.S. citizens?
Will wonders never cease?
The Gadfly only has one question then . . . who is going to pound this very profound message in to the seemingly impenetrable block heads of the right wingers and Teabagger bufoons?
What The Gadfly is getting at is that it's all nice and wonderful that U.S. economists are basically agreeing with progressive economic policies, but fat lot of good it does when you still have the minor complication of that "cult" who is still controlling one half of Congress that believes that the Warren Buffets and the Bill Gates' of the world deserve even more tax and economic breaks while Dick & Jane MiddleAmerica just need to suck it up and sacrifice more than what they have been already.
Until that puzzling puzzle is solved, they might just as well publish a survey which confirms that a majority of neurologists agree that having a bowling ball dropped on to your head from the height of a two-story building could have a lasting, negative impact on one's cognitive thinking abilities.
----TFG
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