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Tom Monto

Consumer spending is good way to help economy recover

it is consumer spending that is best and most fair driver of economic recovery.


Bill Bragg said it well:

The kind of growth that we get from the City is based on cheap credit, which the banks have greatly profited from. It's growth in volume rather than in output. And what we really need is output across the rest of the country, north of the Watford Gap. The super rich in London are too small a group of people to pull us out of economic trouble by their spending. The only people who are going to get us out of this trouble are ordinary working people, who need money in their pockets.


Meantime in one of his songs he sings of hte right wing prescription is "a short, sharp shock." imposed on workers, families, while corpotaiton sn banks get an easy ride, being seen as the engine of growth.


Bill Bragg's prescription is somethmes described as demand-side improvement while others figure that if businesses hire people and banks loan out money or pay out higher dividends executive bonuses,, then economy will improve that way.

it depends wat you want to see happen -- improvement of life for families or just more money in flowthrough.

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