The Real Gordon Gekko, former corporate raider Asher Edelman, says Sanders Is Strongest Candidate

[Nanjeanne]

Appearing on CNBC’s "Fast Money" this morning, Edelman responded immediately when asked who he thought the best candidate for the economy would be.

“Bernie Sanders,” Edelman said, without missing a beat. “No question.”

Asked to elaborate, Edelman stated his case.

“Well, I think it’s quite simple," he began. "If you look at something called ‘velocity of money’—you guys know what that is, I presume—that means how much gets spent and turns around. When you have the top one percent getting money, they spend five, 10 percent of what they earn. When you have the lower end of the economy getting money, they spend 100, or 110 percent of what they earn. As you’ve had a transfer of wealth to the top, and a transfer of income to the top, you have a shrinking consumer base, basically, and you have a shrinking velocity of money. Bernie is the only person out there who I think is talking at all about both fiscal stimulation and banking rules that will get the banks to begin to generate lending again as opposed to speculation. So from an economic point of view, it’s straightforward.”

See video:
http://www.alternet.org/election-2016/shocker-real-gordon-gekko-just-endorsed-bernie-sanders

[Segami]

1. Kick!

[Bread and Circus]

2. I kicked the ither thread on this. The guy was strong in his recommendation.

Demand side economics.

[MariaThinks]

3. so we are taking gekko's advice on who to vote for?

[pat_k]

6. The analysis is solid. Surprise! Bernie's programs are good for Real Business.

Unlike our current system, which nurtures those who amass piles of money, and make money on the money. Producing nothing of value, execpt ever bolder schemes to suck up the profits of other peoples endeavors..

[MariaThinks]

7. and if he had supported Hillary - it would have been

even Gordon gekko supports Hillary

[Nanjeanne]

10. Not from me. I'm a firm believer that demand drives the economy. Not supply side.

You really shouldn't put words in my mouth without asking first.

[pat_k]

4. I hope to see that analysis voiced from more quarters. (nt)

Like perhaps Krugman?

No shot given recent editorials dismissing the feasibility of, well, doing much of anything.

I really wish that guy were more on board. What a difference it would make.

[Kensan]

9. Precisely...

Krugman himself has argued about the multiplier effect of money changing hands and circulating through the economy at lower income levels. That was the basis he used to excoriate Republican cuts to essential government assistance programs and the 2009 stimulus package, saying they were being short-sighted. His trashing of Bernie's plans because GDP growth was "outside" his perception of what was feasible took a great deal of mental gymnastics given his prior stances. This is especially true when he and his buddies admitted they weren't experts in this specific field, and hadn't done any actual analysis. They just wanted to kill any potential sprouting of Bernie's ideas.

Imagine what would happen if:

1. The minimum wage were doubled.
2. A massive WPA type infrastructure construction project was funded - with a requirement that the building materials had to be at least 50% made in the USA (would even be better if higher).
3. High frequency trading was subjected to a transaction fee...and no this isn't going to kill your 401(k) plan unless you are trading millions of shares per week.
4. Our nation's youth could go and graduate from college relatively or completely debt-free.

I won't even mention the savings from a single-payer health system being redirected back into government programs: regulatory agencies, NIH medical research, NASA and other scientific ventures. I realize this is a long-term battle that will take an overhaul of our Congress to achieve. But if you don't bother to champion the cause, there will never be any progress toward the goal.

[DefenseLawyer]

5. Wages wages wages wages

wages wages wages wages wages.


And wages.

Those are my top 10 issues as a voter.

[Arazi]

8. Kicked and Recced eom