Wall Street expert Asher Edelman shocks CNBC: Bernie Sanders is best for the economy
The panelist then who would make the best candidate for the economy; he responded that Bernie Sanders is the best candidate. He proceeded to school the panelist, the gatekeepers of the plutocracy a simple lesson in Economics 101.
"Well I think it is quite simple again," Edelman said. "If you look at something called velocity of money, you guys know what that is I presume; that means how much gets spent and turned around when you have the top one percent getting money, they spend five-ten percent of what they earn. When you have the lower end of the economy getting money, they spend a hundred, or a hundred and ten 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.”
It is that simple. Asher Edelman isn't the only wealthy guy that has a heart or has begun growing a heart. Morris Pearl and his Patriotic Millionaires are doing their part as well.
Read the entire blog post here as well as the video showing his disgust with the panelist, the wards of the plutocracy.
http://egbertowillies.com/2016/03/11/asher-edelman-bernie-sanders-economy/
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