Originally Posted by petegz28
Because our spend happy Gov can borrow at the cheapest rates it has ever had in God knows how long!
Wall St. has been benefiting hand over fist because of these low rates.
Main St. on the other hand? Higher gas prices at the pump. Higher grocery bills at the store. Higher utility bills in the mail. Higher costs on basic materials to make things.
Not a very fair tradeoff.
Yeah, I never thought of the govt being able to get the cheapest rates ever. I knew it encouraged excessive spending. I did know that Wall St benefits more than Main Street. The Keynesian model actually does make the rich richer and the people poorer. Especially the elderly who are on fixed incomes. This protects the assets of the wealthy as it keeps their values from falling and they can afford to borrow more, then pay back with cheaper dollars. Not the little guy. This is why the poor and middle-class are getting poorer while the upper percent gets richer.
I think this is why the left keeps crying "trickle-down" doesn't work. They just haven't identified the real cause is all.