Standing athwart history yelling, "Slow down, you'll hit a young mother crossing the street on her way to the organic co-op with her dual-child stroller!"

Sunday, August 3, 2008

Hey, Trickle Down Economics is True! The AP Says So!

The rich are feeling, and creating, economic woes
Rich begin feeling the pain in down economy
Via Yahoo!

Couple of things about this article:

When the economy is roaring again, or back when it was going balls to the wall about a year ago, do you think there were articles entitled "Thank the Rich for Creating Economic Boom"? I'm not going to be holding my breath.

Secondly, the article seems to presuppose a concrete relationship between the wealth and spending habits of the "rich," and the economic well-being of the rest of us. In fact, the article actually includes the following sentence, "The problem is that when the wealthy get stingy, it trickles down to the rest of us."

This is a pretty surprising admission to find in an AP article, although, since the writer only really admits to said relationship when the economy is in a downturn, perhaps it doesn't count as an admission of the reality of trickle down economics, only when it's a bad thing.

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