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Pastimes : Alan Greenspan MUST GO: -- Ignore unavailable to you. Want to Upgrade?

To: Master (Hijacked) who wrote (192)	7/24/2000 1:20:10 PM
From: wdlngduc	Read Replies (1) \| Respond to of 494

I don't know if there is a so-called "world elite" or not, but I do know that this society will ALWAYS be divided into three groups: the wealthy, the middle class and the poor. It doesn't matter if the stock market is sharply higher or sharply lower, the divisions stated above will exist. In most societies, we have only two class divisions, the wealthy elite and the poor. If more people rise up to the class above what they were born into, then that can only be a huge positive; the increase in purchasing power increases the overall wealth of all classes, even the poor who can get jobs, even if only low paying ones. In many societies the poor have little chance of even a subsistence-paying job. Greenspan's contraction of the money supply to sop up excess liquidity is supposed to serve an overall better purpose than putting pressure on the middle class; it's called "controlling inflation". If he sees rising inflation, does he see that six rate hikes is causing the inflation he is fighting? That's never mentioned as a contributing cause, is it? No, it's the .05 cents an hour more the working stiffs are making. Maybe, you're right! Maybe, he is trying to restrain the middle class.