The man who inspired the character Gordon Gekko in the movie “Wall Street” came out in support of Bernie Sanders saying the following:
“Well, I think it’s quite simple again. If you look at something called velocity of money, you guys know what that is I presume, that means how much gets spent and turns around. When you have the top 1% getting money, they spend 5-10% of what they earn. When you have the lower end of the economy getting money, they spend 100-110% 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.”
What he’s saying is common sense: if the people have no money, they can’t afford to buy the stuff the rich people are selling. Like DUH!
Source: Asher Edelman endorses Bernie Sanders – Business Insider