Alan Greenspan MUST GO: Message Board

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Pastimes : Alan Greenspan MUST GO:

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To: Mama Bear who wrote (91)	5/26/2000 1:20:00 PM
From: BWAC	Read Replies (1) of 494

This was a post from you to the board. It spoke of 1.5 Million homes, and 45k salary's for receptionist's. "Vince, in 1978 we could buy a new car for less than $5000. Today the same car costs over $20000. OK, $15000 if you knock off the air bags and environmental equipment that has been mandated by the gov't in the interim. Of course you can't buy the car without buying the added equipment. We could buy a house for less than $100k. Today, it's over $300k, unless you're in Silicon Valley, were it is $1.5 million. We could buy the S&P at a much lower multiple than today. I also doubt your pizza example, but I don't recall the price of pizza pies in 1978. I just wish you luck finding it for 7.99. Yes, voice mail is cheaper than a receptionist, but can voice mail greet your clients? Oops, maybe you still need the receptionist at $45k and the voice mail for $3.99 month? " What I a saying is that may be the norm in a few areas, but I can assure you it is not the norm in MOST areas. You continue to look at arcane statistics and numbers. What I suggest is to actually look at the world around you. It is beginning to appear that 99% of the well-off people populating SI are far out of touch with the actual plight of 99% of the country.

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