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How the Elites Built America's Economic Wall


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2012 Jul 20, 1:06am   26,997 views  56 comments

by freak80   ➕follow (1)   💰tip   ignore  

"Over the past 30 years, the convergence [of incomes] has largely stopped. Incomes in the poorer states are no longer catching up to incomes in rich states...In a new working paper, Shoag and Peter Ganong, a doctoral student in economics at Harvard, offer an explanation: The key to convergence was never just mobile capital. It was also mobile labor. But the promise of a better life that once drew people of all backgrounds to rich places such as New York and California now applies only to an educated elite -- because rich places have made housing prohibitively expensive."

http://www.bloomberg.com/news/2012-07-19/how-the-elites-built-america-s-economic-wall.html

#housing

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53   freak80   2012 Jul 25, 11:20am  

True, I forgot about the Mongols...those crazy b*stards.

In the future it'll be resource wars rather that religious wars. The Iraq war was only the beginning.

54   New Renter   2012 Jul 26, 1:25am  

The Original Bankster says

California has SLAVERY, WIDESPREAD DRUG USE, SEXUAL DEBAUCHERY, BROKEN FAMILY, POLITICAL CORRUPTION, IRREPARABLY DAMAGED FINANCES... sounds a hell of a lot like every failed empire in history.

but Californians insist their system is better because they allow gay marriage and they're sad when something bad happens to an Arab.

Here's another one for you Bankster.

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She's not a Californian - yet. I'm sure she'll be put on a bus with a one-way ticket to Simi Valley whereupon her recent audition for California residency will be recreated for the home video market. I'm sure it will sell very well in Phoenix

55   FunTime   2012 Jul 26, 2:55am  

freak80 says

but how much of that is because of the fear of "mutually assured destruction" in nuclear war?

http://stevenpinker.com/pages/frequently-asked-questions-about-better-angels-our-nature-why-violence-has-declined

As long as nuclear weapons exist, one cannot say that we are living in less-violent times, especially since it is inevitable that they will be used at some time in the future.

There is no answer to the question of how to compare the decline in actual deaths from dozens of high-probability categories (homicide, war, domestic abuse, and so on) with the increase in hypothetical deaths from one low-probability category – it is, as they say, a philosophical question. But it’s far from certain that nuclear weapons will ever be used again. The 67-year history of nonuse suggests that, contrary to predictions that blundering politicians and trigger-happy generals have always been on the verge of unleashing nuclear weapons, the likelihood of their being used is probably very small. Of course, even an event with an extremely low odds, when the probability is exponentiated over enough years, becomes extremely probable, but that curve has to be set off against the one representing the probability that the Global Zero project will succeed and that nuclear weapons will go the way of chemical weapons, human sacrifice, and slave auctions – also a low-probability event, but one which has a nonzero chance of happening in this century.

56   mell   2012 Jul 28, 8:23am  

The Original Bankster says

wthrfrk80 says

The Original Bankster says

Liberalism is simply the tool of what is left of imperialism. It's the 'babylon system' we've been warned about.

What?

That's a little extreme don't you think?

no.

California has SLAVERY, WIDESPREAD DRUG USE, SEXUAL DEBAUCHERY, BROKEN FAMILY, POLITICAL CORRUPTION, IRREPARABLY DAMAGED FINANCES... sounds a hell of a lot like every failed empire in history.

but Californians insist their system is better because they allow gay marriage and they're sad when something bad happens to an Arab.

The San Francisco Treat

WTF has sexual debauchery to do with this? You mean people are actually open about their sexuality instead of taking a hike in the Appalachian mountains? Social liberalism is not the issue, in fact it is an asset, it's crony capitalism and financial liberalism (or better laissez-faire) that is wreaking havoc.

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