No, I am a capitalist but Romney's policies rig the game . RT @christophil: Class warfare queen>RT @hilaryr http://huff.to/MtbQZs
@NoelSheppard go for it. But if it's not being spent or invested, it's being wasted. Pretty simple.
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@ryangrim As such, there really is no such thing as "unused capital" because companies don't stuff cash in mattresses. -
@NoelSheppard what do the banks do with it? Build highways? No, they create wacky financial products and speculative, useless bubbles -
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@ryangrim Banks finance all kinds of things including homes for people to live in. I worked for 2 banks. How about U? -
@NoelSheppard not sure why it matters but I was a series 7/63 licensed broker -
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@ryangrim So was I. And Series 3. I did arbitrage for Merrill Lynch. How about you? -
@NoelSheppard arbitrage! The definition of useless financial activity. Thanks for your work. -
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@ryangrim Arbitrage is useless? Really? So tell me what "useful" things you've done in the financial services industry. -
@NoelSheppard I did nothing useful
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@ryangrim Not true. Most "idle" cash sits in bank accounts. That gives banks money to lend at a huge multiple. Good for the economy. -
@NoelSheppard I liked It's A Wondrful Life too but that's not today's banking -
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@ryangrim How do you know? What banks have you worked for? What's your actual financial experience? Do tell? -
@NoelSheppard@ryangrim One way to expose economic illiteratacy is 2 ask how money is created, explain ancient bartering created blueprint. -
@metaphorsbwithu@noelsheppard bartering did not create money -
@ryangrim Straw man argument. No one said barter created money. Set stage. RT@metaphorsbwithu@noelsheppard bartering did not create money. -
@metaphorsbwithu@noelsheppard it didn't set the stage either. There's no anthropological evidence barter preceded money in a systematic way
End of conversation
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@ryangrim So instead of the capital being "wasted" the govt. shld take it from the ppl who earned it?Thanks. Twitter will use this to make your timeline better. UndoUndo
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@ryangrim Other "idle" cash sits in treasury bills which finances the debt and keeps interest rates down.Thanks. Twitter will use this to make your timeline better. UndoUndo
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