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* "Can Unemployment Fall Further Without Setting Off Inflation?"
* By Richard W. Stevenson, The New York Times, September 7, 1996 * * Six percent unemployment of the able-bodied population is the point where * the Federal Reserve Board usually kicks in to raise interest rates. [the * presidential campaigns are in their final stages between Dole and Clinton * at this time] * * The Federal Reserve Board is expected to raise interest rates now that * unemployment has reached 5.1 percent, so that the number of unemployed * people will go up. * * SEVEN MILLION PEOPLE ARE CURRENTLY UNEMPLOYED. # Tom Tomorrow # # Since the time in the 1970s when President Nixon ordered a nationwide # salary freeze to combat inflation, the Federal Reserve Board has # manipulated interest rates so that approximately 5 to 6 million people # are purposely kept unemployed at any given time. What??? You mean the government purposely keeps millions and millions and millions of people unemployed at any given time, yet put time limits on welfare? I don't recall hearing that in the public debate. Question: What will poor people who can't get jobs do when their welfare runs out? Keeping in mind that the government purposely keeps approximately 5 to 6 million people unemployed. Answer: Increasing crime, increasing tension and conflict with police departments, some rioting, and politicians bangi |
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