- Capitalism and Alternatives -

5=300?

Posted by: Gee ( si ) on October 01, 1999 at 17:38:07:

In Reply to: Comforting words! posted by Stoller on October 01, 1999 at 17:02:44:

: Yahoo stats? No thanks, I 'll stay with the New York Times: '[F]our out of five households, or about 217 million peole, are taking home a thinner slice of the economic pie today than in 1977.' (5 September 1999, sec. A, p. 14.)

The 'yahoo stats' were based upon a 'line' the crossing of which entails poverty. We both know the line gets shifted upwards regularly, but its at least a half hearted attempt at objectivity.

The NY stats are completely relative and meaningless. A $100k a year worker is 'very poor' relative to Warren Beatty (oh but hes so socialist!) but he is not impoverished by any objective standard.

: : 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.

: Great. When four out of five Americans live to be 300 years old or so, market 'corrections' will not destroy their entire lives. Comforting words!

You passed on math then.



Follow Ups:

The Debating Room Post a Followup