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 Do Depressions Actually HELP the Ultra-Wealthy?

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NoCoPilot

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PostSubject: Do Depressions Actually HELP the Ultra-Wealthy?   Wed Sep 16, 2015 8:03 am

There is ample evidence that income inequality causes economic depressions, since the rich cannot sustain an economy.

Yet most of these 0.1% are not stupid, they must know that.

That got me to thinking -- actually Citizen Kane also got me to thinking -- during the Great Depression many industrial tycoons not only survived but prospered. There were some anti-trust crackdowns and some monopolies were broken up, but I suspect by-and-large the huge devaluation of many industries were an economic boon to those with the wherewithal to take advantage. Empires were built. Dynasties created. Consolidations, vertical integrations, many restrictive regulations were stripped away in the name of "getting the economy on its feet again."

Look at who prospered from WWII.

So, the question becomes, are the men at the levers of power intentionally driving the economy into a ditch?
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richard09

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PostSubject: Re: Do Depressions Actually HELP the Ultra-Wealthy?   Wed Sep 16, 2015 7:18 pm

I don't think they go out of their way to drive the economy into a ditch. They fundamentally don't care, as far as their own well-being goes, and don't care, as far as anyone else's well-being goes. And even if by some miracle they would care, they don't know how to steer an economy out of a ditch because they listen to stupid classical economists and monetarists.
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