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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: mark silvers who wrote (2596)	7/30/1999 12:38:00 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 769670

Thats fine but fwiw I wish people would quit using this "elderly person" soundbyte in this context. First off, the elderly as a demographic group are some of the wealthiest people in the country. Sure there are some poor elderly and they need to be taken care of, but there are more poor children and they are equally needy, we as a society do much less for them. I am for supporting the poor in a better capacity than we do now, but it has to be all poor, not just the elderly poor. On a different topic I think "technology improvements" is a bit misleading too, when used in the context of how the economy is allowed to purr along with no inflation. I think Greenspan has said that... there is an additional factor of outsourced cheap labor particularly in the technology labor markets that allows us to produce for less, then of course all the benefits are realized in the US (mostly).

To: mark silvers who wrote (2596)	7/30/1999 12:44:00 PM
From: Neocon	Read Replies (1) \| Respond to of 769670

I believe the point that Michelle is trying to make is that payroll, which is usually the single biggest expense in a company, is the concern of a CEO, and inflation pushes it up. That is true, but it is not the worst effect on the economy overall...Historically, from ancient Greece to the present, debtors have sought inflation, whether through debasement, or bi-metallism, or some other expedient, in order to degrade the value of contracted debts. The problem is that an expedient which helps debtors destroys lending institutions, and makes surviving lendors wary of terms. Since markets cannot survive without a reasonable flow of credit, inflation does the most damage overall....