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Winston-Salem chronicle. (Winston-Salem, N.C.) 1974-current, October 10, 1974, Page PAGE 2, Image 2

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PAGE 2 | Inflation Is | Mass Confusion jj ? ??? B; Charles Gerald Ford has named inflation as "Piihlir Rnpmy No.l", Rockefeller is financially unconcerned by it and . the mass of people are in a state of mass confusion about how to cope with it. The prominent indicator of inflation is, in the short4erm, the continual upward push of would be without inflation. i~A f Another characteristic of inflation is that there will be an increasing demand at th<* nninfo thot CF ?MUUJUAW VU4IV' imiauuiiai y paper money (refers to any money substitutes in use, even if not backed by gold or silver) enters the economy. There are two major points of entry: (1) government spending and (2) bank loans and credit. Government spending takes the forms of defense contracts and commodity subsidies, while bank loans and credit are given to tooth businesses and consumers. The recipients of this paper money have purchasing power that would not have been theirs if inflation did not exist. As a result they gear the production to new levels - and place a demand on the suppliers' business to Operate at increased levels. This affects the other companies and industries in the same way as the inflation recipients. ^ As each one of us is an examDle. an inprpasp in inpnmo ^ www generally also means a corresponding increase in expenses. The hiring practice of businesses can be used for illustrative purposes. With the introduction of extra money, the businessman does not hire the unemployed but bids employees from other jobs by the lure of increased wages. The fact that consumers also have more money to spend continues the climbing wage-price spiral. As the inflationary paper money flows from hand-tohand through the market, it pushes prices higher and higher. The effect is that those who have the money first will benefit the most because of the ability to* purchase at lower prices. Conversely, .those-who receive^ the money-last will suffer a loss in purchasing power. Individuals living on fixed incomes (retirees, pensioners, etc.) don't adjust upward to inflation. - The result of inflation is that every gain received by a recipient of government and bank handouts must be offset by a loss to the individual who must pay the higher prices. Thus, inflation becomes just a redistribution of wealth; those that have-get, those that have not -ert l muck again:. ? I GRAHAM I I BARBER SHOP I I 2015 Greenway Ave., Phone 725-0070 I I I Specializing in cutting Afros I \ ^ I For Men, Women & . I \ w_ O I I Di-Mel's I I I Fashions I I I Jet-Way Shopping Ctr. I j J Phone 722-0270 I * ? . . .v v * * % . ;v: . ' > 4 % ? , WINSTON-SALEM CHRONICLE P.L.S.H. E Is "Push Expo," the Business and Cultural Trade Exposition, on the decline? While Operation Push (People United to Save Humanity ) is still very strong, it aDDears that there- was- -adecrease in National support rat the project Expo '74. Expo, a multitude of vital and important business and cultural events held in Chicaeo. was attended by people of all descriptions and interests. However, by a j attending the activities were more local than national. This comparison remained constant throughout the exposition of over 600 displays and exhibits. For many blacks, thfc drawing factor to the Exposition was the entertainment; but for a few others it was the immediate gains. They . were given the opportunity to sell concessions and even set ud a ohotoeranhv booth to sell blow-up pictures at a high price. Just cost alone, for those outside of the Chicago area, literally kept^ them away. The working class black can only afford to leave his city for a weekend, Friday eveningthrough Sunday afternoon unless he is on vacation. Many of the activities, especially the entertainment, are planned for these days in particular. Because of this reason, most of the people in attendance failed to recognize the real importance and value of . DOWNTOWN* > ' I ><.?)< 'll?. s xpoOn TTh By Albert Porter and Lewis Tucker Expo - such as the speech that was given on Thursday morning Sept. 26, at the Public Officials Breakfast, by the Rev. Jesse L. Jackson, National Pres. of v Operations P.U.S.H. He stated . tlvat, gravely concerned about the plight of the ordinary working- men and women - Thus Push Expo '74 Theme: 'Save the Worker.' It is becoming increasingly clear that in the city of Chicago, blacks are _ Wachovia Bank and Trust Co., N.A., is scheduled to open its newest branch office on October 28 in the new University-PlazaShopping Center. Dalton D. Ruffin. senior vice president of Wachovia and head of the Winston-Salem office, said the University Plaza branch was approved by the U.S. Comptroller of the Currency. It will bring to 17 the number of Wachovia offices in Winston"Salem andT^orsyth County. Ruff in said Thomas W. Trotter will serve as manager of the new ^office. The new branch office will open in temporary mobile facilities. It willjbe replaced soon by a permanent structure. "The new branch will enableWachovia ,to serve more efficiently merchants and _ mm "\ jBSSBSSSSk <4 fZ REYNOLDA MANOR PARKWAY PU t . OCTOBER 10, 1974 e Decline ? & politically impotent in the decision making functions of government " The more tangible effects of Expo were _overlooked by the class of people it was designed to help - the working class. "Yheenlightment emanated by ' Expo '74 was darkened by its lack of publicity. Widespread <publicity of the exposition was almost nil, getting very little coverage in other parts of the country. < residents of the Northwest area of Winston-Salem and Forsyth County," said Ruffin. ? The new branch office will be located at the intersection of - University Parkway and Silas Creek Parkway Extension directly in front of K-Mart. TURN ONS~| B jt is voue. I yeah, she " wjp? a "thinks WArTRESS?\ MONEY GO ON ' , v. * FASH ON SHOP ? ??? C ~%v * . ? *t * c? SENSATIONAL SWEATIRINGI The cozy cardigan in toft acrylic Vnecked. ribbed, with two patch pockets. Small. Medium, Large in white. black, forest, orange and cream. MA tn MO / if/ ?^ NORTHSIDE . J i .* t ' \ ' >

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