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

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?

• • •

Spitzer Sums Up Romney Campaign Strategy: Lie About Obama

Mitt Romney was speaking at the NRA today and said, “This administration’s attack on freedom extends even to rights explicitly guaranteed by the constitution: the right to bear arms is so plainly stated, so unambiguous, that liberals have a hard time challenging it directly. Instead they have been employing every imaginable rouse and ploy to restrict it, and to defeat it.” Funny, last time I checked the Obama administration has done nothing when it comes to stricter gun laws. Nothing.

• • •

Current TV Struggles To Find Ratings, Could Be Dropped By Time Warner

Current TV is trying to transform itself into a independent, liberal news commentary network. Countdown with Keith Olbermann at 8pm was the centerpiece to this plan and it was to serve as a springboard to launch a full primetime lineup of progressive commentary (just like MSNBC did over the past decade). During the past six months Current has debuted 7pm and 9pm shows (The Young Turks, The War Room with Jennifer Granholm) to surround ‘Countdown’. Just last week Current debuted a 6 hour block of programming from 6am to 12pm each weekday morning. Full Court Press with Bill Press from 6am to 9am and Talking Liberally with Stephanie Miller from 9am to 12pm. Both shows are simulcasts of existing liberal radio shows.

• • •