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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: neolib who wrote (257901)	8/9/2014 12:44:58 PM
From: bentway	Respond to of 541461

When inflation was roaring during the Carter/Reagan era, I knew inflation was terrible because I kept setting earnings targets for myself, telling myself that "If I just earned n, I'd be able to get ahead". I kept reaching my earning targets, but never got any further ahead! At one point, I was working 3 jobs. That's when inflation is too high. Since Reagan, working and middle class earnings have been flat to declining, so ANY inflation is too high. Only the lucky and/or exceptional earners are getting ahead. Most of us are attacking the problem by cutting our spending, not to get ahead, but just to keep our heads above water. Many have gotten badly into debt. Consumers cutting their spending isn't economically stimulating for the economy at all. The middle class dream began dying when Reagan was elected. It seemed to be reversed by Clinton, but then came back turbocharged with W ending in the Bush Great Recession. Obama has done what he can, but it's not enough. "Give a man a gun, and he can rob a bank, Give a man a bank, and he can rob the world!"