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How the Elites Built America's Economic Wall


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2012 Jul 20, 1:06am   27,090 views  56 comments

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"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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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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