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Author Topic: So it's not just our imagination.  (Read 1731 times)

jgruber

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So it's not just our imagination.
« on: July 20, 2004, 05:33:46 PM »
Greenspan-wealthy gaining most from U.S. recovery
Tue Jul 20, 2004 04:59 PM ET
WASHINGTON, July 20 (Reuters) - Economic reports showing the U.S. economic recovery has primarily benefited the well-off are accurate, Federal Reserve Chairman Alan Greenspan said on Tuesday.

"That's what our data show as well," the Fed chairman said in response to questions from the Senate Banking Committee after testifying on the economy.

Greenspan said the U.S. education system has failed to provide many citizens with skills that will let them earn high wages.

He also said the central bank is not surprised that U.S. stock markets are sluggish despite mounting signs of economic strength.

"The weakness in the stock market is perfectly typical of the type of pattern that one sees over the years and more generally the way this economy is behaving...is nothing that we perceive at the Fed as particularly surprising," he said.

egfmba

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Re: So it's not just our imagination.
« Reply #1 on: July 20, 2004, 08:21:46 PM »
Of course it's not our imagination.  It was obvious four years ago that the only policy this pres would be making would benefit his compadres!

There's no way the current economy is helping the middle class, much less the poor. 

The only education that helps you get rich is, apparently, a criminal education.  Just ask Ken Lay...

BTW, no one's shopping at his wife's store, so she had to sell it.  Guess it's hard being just a millionaire (as compared to a multimillionaire)...
We are responsible for actions performed in response to circumstances for which we are not responsible. - Allan Massie