Without a doubt, according to Asher Edelman, Bernie Sanders is the ” best” candidate for the U.S. economy.
That assessment came from what most would have thought to be an unlikely source. Edelman is the financial expert whose Columbia Business School course on the art of corporate raiding served as an inspiration for Hollywood’s depiction of the fictional Gordon Gekko. His remarks came during an appearance on a CNBC programentitled: Wall Street Godfathers.
At the outset, Edelman explained why he believed the U.S. economy has experienced a recession for the past 15 years:
I think it’s pretty straightforward. The average American has not had a raise in 15 years, but things have cost more in the market places. He has been in a recession for 15 years. Nothing has changed for him. Ah, up at the top, we’re not in a recession. But 80% of Americans have been in a recession for 15 years.
When pressed about whether he was addressing financial oppression, which in the minds of the smug CNBC pundits, seemed perfectly acceptable, Edelman responded:
That’s a social issue. I’m talking about money and economics. People can buy less for what they have now than they could 15 years ago. In their lives, that’s a recession.
Edelman then raised eyebrows when he said that Bernie Sanders is without a doubt the best candidate for the U.S. economy. He explained:
Well, I think it’s quite simple again. If you look at something called the velocity of money—you guys know what that is I presume—that means how much gets spent and turned around. When you have the top one percent getting money, they spend 5 – 10% of what they earn. When you have the lower end of the economy, they spend 100 or 110% of what they earn.
As you’ve had a transfer of wealth to the top, there’s a transfer of income to the top. You have a shrinking consumer base, basically. And you have a shrinking velocity of money.
Bernie is the only person out there who is talking about those fiscal stimulations and banking rules that will get the banks lending.
Veterans for Bernie