The radical left (thelemmy.club)
submitted 6 months ago by [M] to c/YUROP@feddit.org
 
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[–] -2 points 6 months ago* (4 children)

The rich arent driving around to all the stores and buying up all the lawn mowers, they arent buying all the food at your local diner, what kind of hoarding are they doing?

They generally just hold stocks as far as I'm aware, which are then used as collateral and lower borrowing rates, leading to more production and someone else consuming that wealth.

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  • [–] 5 points 6 months ago (3 children)

    They hoard the money, brother

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  • [–] -1 points 6 months ago* (2 children)

    The rich have the most debt, they benefit from the cantillon effect more than they hoard cash. Elon Musk borrows all the money he spends.

    Which is government caused, and they are responding to incentives.

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