ECON 101

Apr 05

ECON 101

WHERE DOES YOUR MONEY GO? For that matter, where does it come from, and why don’t we have more of it?

Robert Reich’s 2013 documentary, Inequality for All,¬†explains the facts clearly. We hear a lot about the 1% and the growing gap between not just the rich and the poor, but the rich and the middle class.

This one’s worth watching.

Here are the highlights:

  1. Education is important.
  2. Unions are important.
  3. It’s not easy to track where our dollars go, but we need to know – we vote with our dollars.
  4. Wealthy people can only spend a small amount to meet their own personal needs. They are not job creators, they are money makers. Their money is invested all over the world in gold, real estate, etc – money making money, NOT jobs, as is so often claimed.
  5. The middle class creates wealth – by spending money.
  6. Consumers and CEOs are loving it right now, but not for long.  Companies are making a profit, but on the backs of the people they fire.
  7. Governments need to regulate markets
  8. Middle class workers make less money and they can’t buy as much as they used to

Watch the doc and let me know what you think!

 

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