Asher Edelman endorses Bernie Sanders - Business Insider

Asher Edelman endorses Bernie Sanders - Business Insider



The real Gordon Gekko supports Bernie Sanders for one simple reason, the velocity of money is comatose because most of the profits go to the 1 percent. That is killing the economy. He said:

"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."

Here is a chart of M2, all money stock and savings. We can see it is crashing due to the proceeds going to those who are hoarding money. This hurts the economy: