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The richer people, when they get another $100,000, or another million, or 10 million, don’t tend to spend it as much as the poorer people would if they got another $100 or $1,000 or $5,000.

Jonathan Adair Turner

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Another Get Income Million People Rich Richer Spend

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If your credit is going to grow at 10-15 percent per year in order to get your 5 percent GDP growth per year, eventually you’re going to have a problem.
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The probability that we face global warming caused by fossil fuels is now so overwhelming that it is legitimate to doubt the motives of those who deny it
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Doubt Fossil Fuel Legitimate Overwhelming Probability
In finance and economics, ill-designed policy is a more powerful force for harm than individual greed or error.
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We’re not where we should be in terms of our national economies.
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Business Economic National Power Rule Term
Instability mostly comes from the interface between the fact that the banks (or shadow banks) can create credit, money, and purchasing power in infinite quantities
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Bank Create Instability Interface Land Mostly Real Shadow
This isn’t a stable system.
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All the empirical evidence suggests that the rich tend to consume a lower proportion of income than middle and lower-income people.
JONATHAN ADAIR TURNER

Another Empirical Evidence Get Income Million Rich Richer Spend
In absolute terms, we may have to look at restricting the number of flights people take.
JONATHAN ADAIR TURNER

Energy Numbers People
We need to move beyond the demonisation of overpaid traders
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The richer people, when they get another $100,000, or another million, or 10 million, don’t tend to spend it as much as the poorer people would if they got another $100 or $1,000 or $5,000.
JONATHAN ADAIR TURNER

Another Get Income Million People Rich Richer Spend
We don’t know how to get out of this malaise and I think we now have to consider more radical policies.
JONATHAN ADAIR TURNER

Consider Economy Effecetd Malaise Overcome Policies Radical Rule
Rising inequality can create a more highly leveraged economy, and it can then make the economy vulnerable to a crash like 2008.
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The capitalist system is not delivering those decade-after-decade increases it promised.
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JONATHAN ADAIR TURNER

Create Economic Extraordinary Inelastic Potential Price Together Turbulence
If we don’t constrain them, and the fact that credit is primarily created to fund the purchase of urban real estate and land, which is somewhat fixed in supply.
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Constrain Created Fact Land Primarily Purchase Real State

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