alt Hacker NewsI'm not sure about the 99%, but I think we've established in the last few years that the economy can keep humming along quite nicely in the short term with only 10% of the population increasing their spending significantly in real terms. I doubt it would work with 0.1%. 1% might be enough.
This.
I'm unsure why people still believe we need the middle class to lead consumption for our economy to be "good"? At this point I feel like there is a lot of evidence out there directly contradicting that belief.
Do I think that's good for the nation? Not at all.
But I think fixing the fact that such an economy is terrible for the nation should be a separate discussion. Obviously we need to do something to support the 90%, and I support doing something in service of that goal. We should do it as soon as possible.
But I think people like Kashkari are thinking only about the economy itself. Which is kind of his job. It's the job of our elected officials to fix issues arising from the inability of the 90% to take advantage of the economy as well as they had historically.