Tucker: What will the 'Green New Deal reparations bill' do to the economy?

the bite administration is preparing to drop another two trillion dollars into the economy now however you feel about the green new deal reparations bill you got to wonder what does that do to the economy when you throw that much money around doesn't the value of money decline warren cass is one of the few people who studies inflation carefully and understands the risks of it he's executive director at american compass he joins us tonight warren thanks so much for coming on leaving aside the merits or demerits of the actual bill when you dump this much money into the system what are the risks of it well there are a lot of risks tucker one as as you mentioned is you just get inflation prices of everything just goes up i think what we've been seeing recently and is probably the biggest risk is that the money just all ends up on wall street and you see it going into private equity and hedge funds and rising stock prices and cryptocurrency and this sort of just inflation of of assets that that really only benefits the the wealthy segment of americans so the income inequality which conservatives including me ignored for a long time clearly it's real clearly it's driving a lot of the social pathologies that we're all so distressed about this is the primary driver of that it seems like fed policy dumping all this money most of which gets captured by wall street i think that's exactly right we've just published research at american compass that looks at how much money is flowing out of the real economy and on to wall street and that's coming both from companies that are just doing buybacks and dividends instead of making investments and then it's also coming as you said from from the government that just keeps pumping more money into the economy and and you see that in things like you know the stock market being just completely disconnected from from the real economy you know it's during a pandemic year it practically doubled uh you see it in cryptocurrency you see it in all these places and then at the end of the day you look at at where's the wealth in this country and you find over the past 30 years the the top 10 of wealthiest households we found gained 28 trillion dollars of wealth and the bottom 50 percent gained nothing and that's that's that's what you get when all the money goes into assets and and only some people hold the assets it there is this set you can kind of feel it people are behaving as if money isn't real that is not a good sign like in a functioning economy people understand the connection between money and value but that seems to have been severed or am i just imagining it no i think that's exactly right and and in my mind it's especially important when we talk about investment which you know is one of these words that that just gets thrown around a lot and we call everything investment and everybody's an investor now but but real investment means actually putting resources to work having people build things creating new capacity most of what's going on you know if you think about wall street and all of the trading and the speculation that's that's not investment that's that's just speculating it doesn't actually build anything and so i think we have a real problem in this country where people have found it's more profitable to just kind of trade things around in a circle in a lot of cases than it is to to go and build something and and we see the results in in how things have played out in the economy where you know we've seen wages not rising productivity doesn't rise we see ourselves losing competitively against china and then you turn around in wall street and look at wall street and things have never been better that's such a good point it's so nice to hear someone say it out loud oren cass thank you thank you

Channel: Fox News

Views: 260,885

Rating: 4.8973126 out of 5

Keywords: Green New Deal, Green New Deal tucker carlson, economy, fox news Green New Deal, government spending, infrastructure, tucker carlson Green New Deal plan, tucker government spending, carlson, fnc, fox news, fox news channel, fox news media, fox news network, fox news voices, tucker, tucker carlson, tucker carlson monologue, tucker carlson monologue tonight, tucker carlson tonight, tucker monologue, tucker monologue tonight, tucker reacts, tucker tonight

Id: ivOHuMzCI1A

Length: 3min 37sec (217 seconds)

Published: Sat Apr 03 2021

Reddit Comments

[u/twilson340]

I heard it “you should own assets”

[u/TheOnlineDancer]

This all is gonna collapse..

[u/iJeepThereforeiAM]

Wow. A pin prick away. Poof.