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Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
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 Posted: Fri May 25, 2007 12:06 am Post subject: Misery Spread Widely, The Destruction of the Middle Class! |
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Just as vast new middle classes are being born around the globe, some are being buried. They are being buried by the people they elected to steward their economies, these public servants are more interested in their next reelection then coming up with practical solutions that meet today's challenges while preserving the economic futures of their current constituents and future generations.
Today's middle classes in the western world have been taught a belief in two things: that you can have “something for nothing”, and that government can “protect and provide for you”. They now vote regularly for these chimeras/illusions. The growth cycle and bull markets in these ways of thinking are a self fulfilling vicious circle, which will culminate in the middle classes demise. This broad social trend is in the United States and in central Europe , and is as destructive a PRIMARY character flaw as I have ever seen, it is an investment theme for the next ten years or more as it plays out.
With the REALITY of Globalization confronting these beliefs, the developed world is faced with a difficult choice: get up out of their chairs and get to work, compete, work harder, and smarter then our economic competitors and thrive or slide into the future and slowly sink into increasing poverty as the printing press and credit creation substitutes for wealth creation. Increasingly in America and Europe the middle classes are choosing the latter option.
The printing press has subsidized for wealth generation for over twenty years now and we can see it in everyone's lives. It now takes two parents working to make ends meet: rising food, energy, housing and health care expenses are eating people and businesses alive. Three out of four of these BASIC expenses are excluded when inflation reports are calculated. Housing inflation is measured by looking at the increases in rents (not the increase in the price of the home or commercial property), food and energy are excluded from core calculations of the Consumer and Producer price indexes. Policy makers and the media focus on the Core numbers and present them as the HEADLINE numbers, virtually ignoring the actual headline numbers, which are several points higher, which are also messaged by such prestidigitation as hedonic pricing (quality improvements are used to impute lower prices).
http://www.marketoracle.co.uk/Article1086.html |
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