- Capitalism and Alternatives -

The facts on that

Posted by: Stoller on November 11, 1999 at 13:03:28:

In Reply to: You're being tedious posted by Stoller on November 10, 1999 at 19:05:27:

: : Not quite so seperate, look to see what the proletariat owns; his labor, that which was bought with his labor, those inheritences (however few) and considewr whether these people want to hang onto those things owned as much as the (nominally land owning) peasant did.

: And that's why the average savings of the average American is, like, 0%? (Source: any mainstream publication; take your pick...)

: You're telling me that the proletariat has money to save, money to turn into capital, Gee. That's a spurious claim.

The figures regarding savings are ubiquitous.

The average American household saves between NOTHING and minus figures.

Sources: New York Times, 18 January 1999, sec. A, p. 17; The Nation, 22 November 1999, p. 7.

And while we're at it:

Total household debt presently is 98% of total disposable annual income.

Source: Business Week, 1 November 1999, p. 40.

Things are precarious.

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