Comment Re:Let me get this right (Score 1) 839
One person can only buy so much.
There are far more things available for purchase than any one person's money can buy; he'll run out of money before he runs out of things to buy or time in which to buy them. Consider politicians, they're very expensive and don't even stay bought!
Technically you're right but you miss the point. How many jobs does he support with his demand for a gold and diamond encrusted watch that costs 10,000x more than a normal watch? A whole lot fewer jobs than 10,000 normal watch buyers can support. Those normal people drive the economy with their demand, not the rich guy.
Money saved at a bank doesn't stay in Scrooge McDuck's money bin; banks need to loan it out so that they can offer interest, pay their employees, and make a profit. Most of the money in savings accounts is loaned out to allow housing construction.
So the bank takes the money and... invests it. Refer back to my argument about investing in the previous post. Who's going to buy houses when there's no middle class? Who's going to start or expand their widget business when most people can barely afford their food and rent?