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Today's Rhetorical Question...
Jan. 18th, 2011 04:33 pmAprospos of something I heard on the World Service earlier.
Why is it that so many proponents of Trickle Down Economics seem to be fans of buying gold... (Glen Beck springs to mind...)
My understanding of Trickle Down Economics is that rich people will have extra money which they will invest wisely, either themselves or their banks will.
Apart from the obvious objections - investing in Mercedes probably doesn't help your local economy (likewise the Audi RS8 you wanted probably doesn't either) or your bank is probably going to "invest" the money in a derivative fund of some kind that probably isn't going to small business - how does buying Gold "trickle" down into anything?
Last I heard, "buying" gold involves physically taking ownership of a quantity of the yellow stuff in a vault somewhere....
Why is it that so many proponents of Trickle Down Economics seem to be fans of buying gold... (Glen Beck springs to mind...)
My understanding of Trickle Down Economics is that rich people will have extra money which they will invest wisely, either themselves or their banks will.
Apart from the obvious objections - investing in Mercedes probably doesn't help your local economy (likewise the Audi RS8 you wanted probably doesn't either) or your bank is probably going to "invest" the money in a derivative fund of some kind that probably isn't going to small business - how does buying Gold "trickle" down into anything?
Last I heard, "buying" gold involves physically taking ownership of a quantity of the yellow stuff in a vault somewhere....
