nick-hanauer

Video: ‘Death Spiral Of Falling Demand’ – Venture Capitalist Nick Hanauer On Viewpoint with Eliot Spitzer

Video 2 3

Venture capitalist Nick Hanauer explains why people create the demand which then creates the jobs. He says he makes 1000 times more than the average worker but that doesn’t translate to 1000 times the consumerism of the average worker. He can’t makeup the difference. So with more wealth accumulating within a small pool of wealthy people, that means less wealth spread across the rest of the country. It means less purchasing power and less demand for products and services from tens and hundreds of millions of Americans. This is why supply side (trickle down) economics doesn’t work. We’ve tried it for 30 years. How many more years do we need to continue failed economic policy before we wake up and realize it will never work?

The most important takeaway from this video starts at 1:33. If income distribution had remained unchanged from a few decades ago the media family income would be $92,000. Watch the video for the rest of the statistics. It’s an extremely damning indictment of supply side economics.

And this is what these greedy fuckers who support continued supply side economics fail to realize. Their failed policies will eventually lead to a massive economic collapse when Americans no longer have any purchasing power to drive the consumerism that fuels the economy. All of the wealth of the country will be in the hands of a few thousand people. Economic activity will dry up, tens of millions (or worse) will lose their jobs and thousands upon thousands of companies will go out of business.

Or to put it another way, Nick Hanauer says, “The economics will be the least of our problems at that point.”

dks


Get The Left Call Delivered To Your Inbox:

About the author / 

David K. Sutton

Chief Writer and Editor of The Left Call - I'm a full-time IT engineer, part-time political blogger. I founded The Left Call in 2011 because I believe in social justice, economic equality, and the idea of forming a more perfect union. In addition to written content, I also host the LEFT CALL RADIO Podcast.

Related Posts

  • MYMY

    Someone finally noticed??? I mean I have heard that Rush Limbaugh orders and consumes two steak dinners at restaurants, but even that big whale can’t make up for all those who might have consumed one each if he hadn’t managed to inflate his own salaries and the money of the wealthy that support him…

  • Pingback: Walmart Is The Corporate Embodiment Of America's Growing Inequality

Get LEFT CALL In Your Inbox

Add To The Discussion

See What’s Hot

Check Out This Meme

liberals-believe-government-can-serve-as-the-great-equalizer
View All Memes

David K. Sutton Photography

Take Your Light With You
Tributaries of Crimson

Get Daily Email Alerts

THE LEFT CALL LEDGER: Get the latest stories delivered daily to your inbox, with all the hard-hitting liberal commentary you've come to expect.

About

We Don't Break The News;
It's Already Broken.

Founded in 2011, LeftCall.com is an independent news and politics blog, adding a much needed liberal voice with hard-hitting editorial content.

We believe in social justice and economic equality. We believe freedom is not achieved until all persons are treated equally under the law. We believe in challenging voices of bigotry and intolerance. And we believe in speaking truth to the political and economic power establishment.

If you share these beliefs, please help us by posting Left Call articles on Facebook, Twitter and other social media websites.