dawsonct
So, let me get this straight Metro, Companies and individuals are sitting on all this cash, but ARE NOT HIRING PEOPLE TO PRODUCE THEIR PRODUCT. Interesting. That seems completely antithetical to the principles of supply-side economics as espoused by Von Mises, Hayek, the Friedmans, Mundell, Laffer, promoted by Wanniski, and sold by Reagan.
I THOUGHT that if we syphoned our countries tax revenues into the pockets of a tiny group of very wealthy people and corporations, they were going to explode with creativity, and products, and jobs.
I thought if they had all that extra money, the desire to produce product would overwhelm them, the surplus of product was supposed to stabilize prices and increase competition, and all this stuff was supposed to drive consumers into a frenzy of purchasing which would naturally drive the demand for more product, thus create a need to hire more people.
(Funny, just typing those lines was like attempting to levitate by pulling on your own boot-straps).
Odd that supply-side isn’t playing out just like the promoters of that philosophy said it would.
Instead, it is proceeding EXACTLY like the detractors predicted.