- Capitalism and Alternatives -


Posted by: Gee ( si ) on October 01, 1999 at 12:02:46:

In Reply to: Credibility Gap posted by Barry Stoller on October 01, 1999 at 11:00:47:

: 'The gap is irrelevant' to who? The fat bosses or the three-job families sinking further and further into debt?

Which picture is this from? With poverty lowest since 1979.

: Please specify which point of view you are talking about when you say things like the income disparity gap is 'irrelevant.' _________________________

Any person who compares *their* past with their *present* instead of looking over the fence and saying "its not fair" without bothering to ask how the disparity has occured and whether its resulted in any actual erosion in their standard of living or just increased the envy factor.

: According to a recent issue of The Economist, which I'm sure you'll concede is no hot bed of red malfeasance, the private sector's financial debt is currently 5% of the GDP (whereas in the last 50 years it has not exceeded 1%) and America's current-account deficit is a record 4%---'all classic symptoms of a bubble.'(1) Claiming that 'a collapse on Wall Street remains the biggest threat to the world economy,' The Economist went on to say:

Bursting bubbles, also and more accurately called corrections put sum value back to where it really is in terms of exhange vale, after the dust settles. The self defeating woops of joy at the 1987 crash by people salivating at the prospect of some stock broker losing his Porshe were quelled a year later when values were back to pre crash levels.

Looking at a five year chart and ending the chart just after the crahs looks awful. Showing the 50 year chart makes the trend ever clearer.

: Speaking of promiscuous credit, anyone here get a constant barrage of credit card offers?

For every 10 I get I loose all willpower and get 2 credit cards. Or do I just not botehr with them because I can manage my own credit.

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