OCR Text |
Show WALTER SHEW Three Items Consume Budget WHENEVER the cost of food, rent and clothing consumes all the income of the masses of the people, nothing can I prevent a depression. That's solid logic because the people have nothing left to spend for anything else. The bureau of i labor statistics savs that at the present time these three items, ; food clothing and rent, are taking more than two-thirds of the average I family's income. It makes no difference what the amount of the Income is, whether it's $20 or $100 a week, the fact remains that the consumer's con-sumer's dollar Is worth only 51 cents in a grocery and 55 cents In a clothing store and his total doBar for everything else is worth only 64 cents. I Those who attempt to blame high prices on exports in our efforts to i aid starving Europe are barking up the wrong tree. For instance, from May, 1946, to May, 1947, our exports of meat were only 2.2 per cent of total production yet wholesale meat prices increased 83 per cent. The ! organizations which a year ago were heatedly berating OPA are now in noisy argument over who is to blame for what has happened since. |