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| 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
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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
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muck again:. ?
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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
_
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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~|
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is voue. I yeah, she
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