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What's exactly wrong with Gary's economics?

I'd say he does bring pretty convincing arguments to the table and his logic does make sense.

if you take all the wealth and give it one group of people who don't put it back into the circulation but rather just invest it, it makes sense that there's no resources left for anyone else and "everyone" else is comparatively poor.

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greener_grass 14 days ago | parent | next [-]

I've definitely noticed more anti-gary astro-turfing recently. He seems to have rattled someone...

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samiv 14 days ago | parent | next [-]

You know that when the public media and the elites start attacking him personally by attacking his credentials or his background or work history he's onto something. And this will happen because they cannot refute what he's saying with facts so they must try to silence by undermining his credibility.

	▲	8note 14 days ago \| parent [-]
		typically theres also plenty of literature refuting things, but "easy to consume" isnt the same thing as "true"

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AlexandrB 14 days ago | parent | prev [-]

How do you know it's astroturfing?

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mytailorisrich 14 days ago | parent | prev | next [-]

> I'd say he does bring pretty convincing arguments to the table and his logic does make sense.

That's a typically successful but dangerous social media recipe.

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hibikir 14 days ago | parent | prev | next [-]

Most forma of investing is putting the money back into circulation: After all, you are handing the money out to someone ao they use it. Just like giving out a business loan.

There is "investment" that doesn't cause more activity, like having a second home for speculation purposes that you keep empty. But in general, investment leads to more production, and ends up creating employment.

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gengwyn 14 days ago | parent | prev | next [-]

Putting aside his made-up backstory, which is admittedly ad hominem, I've listened to his arguments, notably his video on debt and mortgages. It falls into the same trap as a lot of broadly populist economics - demonization of morally neutral economic concepts and focusing only on one side of the equation. This[1] entire video is him focusing on the bank side of a mortgage transaction, while never once considering the value given to the mortgage owner in being able to purchase an asset they never would be able to otherwise and gaining equity. Investment isn't just a hole rich people dump money into that prints stuff out for them and no one else.

Call it biased, but I'm also a priori skeptical of any public intellectual that points to their one pet theory as the cause of society's ills.

[1] https://www.youtube.com/watch?v=kidX8prVIgY

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neilwilson 14 days ago | parent | prev | next [-]

What's wrong? Full breakdown here if you're interested

https://birchlermuesli.substack.com/p/copy-garys-badeconomic...

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Apreche 14 days ago | parent | prev [-]

Who said anything was wrong? I’m a fan. I was just anticipating him getting a lot of mentions in the comments.