Robert Reich Pretty Much Nails It.

Share Button

Don’t have time to comment on this now, but Reich does lay out the main problem nicely. To summarize, he shows that the “Trickle Down” portion of supply side economics… never actually trickled down. The gains we saw over the last thirty years were due to, among other things, two huge stock market bubble, a mammoth housing bubble, and the over reliance on credit by both consumers and the financial industry.

I’m not against the rich at all… I’d like to be one of them. But Supply Side economics made it too easy to make money with money, too easy to grow capital without actually investing in brick-and-mortar and manufacturing jobs, thus, no trickle down to the middle class. Reich and I will, I suspect, part ways on what to do to fix the system, but that’s fine. We do agree on much of the problem.

PS. Here’s my thoughts on possible solutions to revive the economy.