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I recently read Piketty's Les Hauts Revenus en France, where he made the point that with rent control, and wage rise easily given to those that'd become too poor because of inflation, inflation was a big part of reducing inequality during the 20's...

Un roi sans divertissement est un homme plein de misères
by linca (antonin POINT lucas AROBASE gmail.com) on Thu May 10th, 2007 at 07:36:42 PM EST
[ Parent ]
And when you index the smig, provide enough subsidized, wage-indexed rental housing and run your economy to be honestly at full employment (ie, jobs for all who want them) this can continue to be true.

Plus, inflation hits the poor different than the rich based on the basket of goods they tend to buy. US statistics detail that basket of goods per income cohort and, when cross referenced against CPI data, it emerges, for instance, that inflation is higher in the US for the poor and what the poor tend to purchase, and inflation is lowest for the wealthiest and what they tend to buy.

The fed reserve, of course, does not worry about this.

The Hun is always either at your throat or at your feet. Winston Churchill

by r------ on Fri May 11th, 2007 at 03:20:12 PM EST
[ Parent ]
US statistics detail that basket of goods per income cohort and, when cross referenced against CPI data, it emerges, for instance, that inflation is higher in the US for the poor and what the poor tend to purchase, and inflation is lowest for the wealthiest and what they tend to buy.

The fed reserve, of course, does not worry about this.

I suggest a diary on Daily Kos.

Bush is a symptom, not the disease.
by Carrie (migeru at eurotrib dot com) on Fri May 11th, 2007 at 04:52:47 PM EST
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