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Show WALTER SHEAD Three Items Consume Budget WHENEVER the cost of food, rent and clothing consumes all the income of the masses of the people, nothing can prevent a depression. That's solid logic because the people have nothing left to spend for anything else. The bureau of labor statistics says that at the present time these three items, food, clothing and rent, are taking more than two-thirds of the average family's income. It makes no difference what the amount of the Income is, whether it's 520 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 dollar for everything else is worth only 64 cents. Those who attempt to blame high prices on exports in our efforts to 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. |