Wealth effect falls flat: Rising stock, house prices aren't sending shoppers to the mall

  • Article by: PAUL WISEMAN , AP Economics Writer
  • Updated: June 21, 2013 - 5:40 PM

WASHINGTON — The stock market rallied to record heights last month, home prices have rebounded and the wealth of American households has returned to where it was before the Great Recession.

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dogmanJun. 21, 13 6:08 PM

Wait, what? I thought the teapublican mantra was to put more money in the pockets of the 'job creators' and all of our problems would go away? They would arrogantly discount the claim that more money in the pockets of rich would remain in their pockets, while more money in the pockets of the poor and middle class would cycle thru the economy. Could they have been wrong? Again?

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pitythefoolsJun. 22, 13 9:35 AM

Great wealth and income disparity have always lead to economic collapse, just as it did and will again in the United States. While I'm against gifting to corporations like Apple that use transfer pricing schemes to shift cost to the US and profit to low-tax havens, perhaps it is time to give them a tax Holiday anyway. They can repatriate their cash hoards tax-free. As long as 90% of it is used for job creation, raises and bonuses to non-executives. Not for any other reason. You might argue that's the stockholder's money but it's worth zero to stockholders locked away offshore. So give the investor class 10%, and the rest to the spending class.

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