I’ve never believed in trickle-down economics. People are people and people are greedy. More times than not people are going to look out for themselves rather than anybody else, so they’re going to hang onto as much money as they can. Plus, if history tells you anything, it just doesn’t seem to work.
So, when Jon mentions his idea of trickle up economics, I’m tempted to believe that it would actually work. That people would take money and pay back their loans, which goes back into the banks. I mean, if we’re going to give the financial industry money, it might as well pay off some of our debt too.
But, people are still people and people are still greedy. Even when they’re the less wealthy people. Hopefully, debt would get paid off, but what happens after that? Do they take anything of monetary value and stuff into a mattress? The best thing for the economy would be to buy things, right? I for one have never been much of a shopper. Granted, I might buy quite a few CDs, but beyond that I’ve always been the “save your money for a rainy day” sort.
It does make me wonder, though. With the current way that we do things ending up in such a dissarray, maybe we should try something new. Who knows, it could work.