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View Diary: The business case for why chained-CPI is theft and breach of contract. (92 comments)

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  •  Because inflation was not originally seen to (3+ / 0-)
    Recommended by:
    JerryNA, sturunner, goodpractice

    be a huge issue.  

    What happened with the huge inflation rates in the 1970s was that the elderly were literally being starved of money to live. The cost of living was shooting up so fast and their benefits had an increasingly wider gap.

    So, COLA.

    I think the diary is well-written.  It raises people's consciousness and the exact language we can all haggle over, but they are breaking their word -- the long-term working folks expectations -- about what to plan for in retirement.

    It is wrong. Morally. Socially. Politically. Economically.  It is simply wrong.

    Continuing to concentrate more money in the hands of the rich will slow the economy even more. That's all that has happened for 30+ years since Reagan:  the creeping stagnation of our skilled jobs and our overall economy.  

    Throwing a few nicely done overblown bubbles into the punch bowl doesn't keep the punch bowl full.  

    "The law is meant to be my servant and not my master, still less my torturer and my murderer." -- James Baldwin. July 11, 1966.

    by YucatanMan on Wed Apr 24, 2013 at 11:45:36 AM PDT

    [ Parent ]

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