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Kyocera Corp. Message Board

  • markbird2002 markbird2002 Aug 31, 2002 7:39 PM Flag

    Bear Market Commentary

    I always look for these news articles around the world, because it is symptomatic of the collapse of a middle class. Since the mid 1970s, Iran's middle class has been destroyed. What happens when you had money and now don't?

    Here is a clip from this week's Alan Abelson commentary in Barrons:

    "Tehran, of course, is touchy about anything that suggests the nation it rigidly controls isn't paradise found. But calling houses of ill-repute chastity houses means we've been too hard on the ayatollahs -- somewhere buried in those ferocious beards and maniacally burning eyes is a sly sense of humor.

    It emerges that Iran has a prostitution problem: The New York Times reports that the capital alone harbors 300,000 ladies of the night. Chastity houses are supposed to get them off the streets and out of sight. And the far-out euphemism, meanwhile, preserves the illusion, sacred to its robed rulers, of pristine Persia."

    P.S. When you get something on the order of 300,000 prostitutes in a 12 million city, that's symptomatic that the middle class is gone. That's 2.5% of the entire population and probably more than 10% of the women between 12 and 60.

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