Definition: “Trickle-down economic theory”
(1) monetary “waterboarding”, a form of torture used to create fear in the masses in order to incapacitate their will to resist enslavement;
(2) a theory of monetary policy in which the coin of the realm accumulates in the coffers of the elite by duping the masses into believing some crumbs will fall in their direction;
(3) a method of taxation and an approach to monetary policy that indentures the masses regardless of how hard they toil.
Look at the mess that has been made by R. Regan, G.H.W. Bush, W.J. Clinton, G.W. Bush, all of congress, Rubin, Greenspan, Paulson and Bernanke.
Regardless of what any of them may say about themselves, their legacy is we have been led to the abyss.
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