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Re: state splitting*/re: education

By: faul in ALEA | Recommend this post (0)
Wed, 17 Jul 13 8:07 PM | 25 view(s)
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Msg. 14113 of 54959
(This msg. is a reply to 14112 by Cactus Flower)

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Hi Alea.....your hero BB disagrees Smile

"Based on the following quotes just uttered by the Chairman...

BERNANKE: WALL STREET HASN'T BENEFITED MORE THAN MAIN STREET
BERNANKE SAYS FED `VERY FOCUSED' ON MAIN STREET"


Clearly main street is eating the same caviar
as wall street then........1984 by chairman Ben.

It just different caviar for main street called
foodstamps.....up almost 80% since the crisis
began.....


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The above is a reply to the following message:
Re: state splitting*/re: education
By: Cactus Flower
in ALEA
Wed, 17 Jul 13 7:03 PM
Msg. 14112 of 54959

hi d&o,

it is a residual of the recent financial crisis.

once the economy is fully recovered and there are jobs to be won, fewer folks will need welfare.

the us has a teeny-weeny welfare state compared with most modern economies. per person benefits in the us are relatively tiny. dependency is a miserable option.

but actually, welfare programmes provide a stabiliser for the whole economy during a crisis. they mean that money continues to flow. the farmer who sells cheese doesn't go out of business because people on food stamps get to eat.

so the great thing about welfare programmes is that they provide a safety net for those who have been unlucky and they provide a second-best economic benefit for everyone.

of course, on the margin there are folks who sponge on the system. as with every such system. i'd rather folks moan about that than that children starve because we want to teach their family a lesson.

the lesson we have all learnt. the folks on wall street who visited this crisis on everyone were saved and continue to thrive. our money buys their caviar. and what benefit do they offer the economy?


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