Rinaldo digs into the underlying economic problems that were bandaged, but left untreated after the Great Recession in 2008, and are now being exposed anew by the COVID-19 pandemic.
Recorded on May 9, 2020
“We are going to keep doing this until we either fix it or the system collapses.” – Rinaldo S. Brutoco
On this episode of New Business Paradigms Academy President Rinaldo Brutoco and Chief of Staff Kristy Jansen focus on underlying economic problems that were bandaged, but left untreated after the Great Recession in 2008, and are now being exposed anew by the COVID-19 pandemic. The disconnect between the buoyant stock market and the historic and outrageous unemployment numbers reveals the ongoing erosion of Main street, while K- Street and Wall Street continue to profit. Rinaldo explains that concentrated wealth that is locked up in the stock market could be part of the solution if the government implements a one mil transaction tax, immediately connecting the stock market with the real economy. This is one of multiple ideas Rinaldo considered in a piece he wrote in 2008 about his theory on “Trickle Up Economics” that seem more prescient now than ever.
Other topics include a review of economic indicators, more thoughts on gold as a safe haven, and why addressing climate change must be a consideration for any revival of our economy. Oh and they also give a solid and vociferous thumbs down to Michael Moore’s new “dangerous and dumb” documentary Planet Human, released in April, and some sharp words for Barak Obama as well.
(Credits: Produced and Edited by Kristy Jansen & Benjamin Schwartz, Theme Music by Alejandro Del Pozo)
Saving the U.S. economy with “trickle-up” economics by Rinaldo S. Brutoco
Heather Cox Richardson’s Letters from an American Newsletter: May 8, 2020