Obama’s Trickle Up Economics Is Working

Posted by Jason | Posted in Economics, Government | Posted on 30-11-2009


Thanks to Obama’s economic policies and bail outs, you no longer have to be concerned about Wall Street execs not being able to afford their lavish lifestyle.

Conspicuous consumption is making a comeback on Wall Street. But no one wants to admit they’re doing it. As traders and investment bankers near the finish line of what looks like a boom year for pay, some are spending money like the financial crisis never happened. From $15,000-a-week Caribbean getaways to art auctions to $200,000 platinum wristwatches that automatically adjust for leap years, signs of the good life are returning. “What we’re seeing in the last four to eight weeks is a fairly substantial uptick” in demand for extravagant purchases as Wall Street employees grow more confident that the market’s

via Wall Street Starts Spending Again – WSJ.com.

I have been so concerned. This is going to be a great Christmas for Goldman Sachs, Citigroup, etc. Don’t you see how Trickle Up Economics works? Obama takes money from the middle class, gives it to Wall Street, GM, etc. Then when they spend money on trips, jewelry, etc, we get some of it back as employees working for the companies from who they buy. I know you didn’t get as much back, but that’s where the Trickle Up comes in.

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