OT to Lee,
Perhaps you're right. I've been overly influenced by the talking heads and haven't devoted sufficient effort to just reading what the Fed Officials actually say.
One comment re AG:
He said, "How is this remarkable economic machine to be maintained, and how can we better ensure that its benefits reach the greatest number of people? "
Your comment: "Sounds like Alan is happy with the gains and just wishing they were more widespread. "
1. Bill Gates' net worth is irrelevant, IMO. The disparity between the richest and poorest extremes, while lamentable, is a fact of life.
2. Those living in poverty tend to live in their own home complete with plumbing and most other modern conveniences, have full access to medical and dental care, have access to education, have full access to sufficient, nutritious food, ...
In other words, what we now define as living in poverty is not far off what the upper class had as their quality of life in our grandparents' time (at least if one is on the leading edge of the boomers).
So, IMO, the wealth is being distributed more equally than ever before. The Socialists have just changed their definition of what is enough. An equitable distribution would provide benefits to those who earn them. Our society has already gone far beyond that.
<end soapbox rant>
Best wishes,
Ian. |
