DC Area Sees Median Incomes Soar As the Rest of The Nation Languishes - Galt's Gulch

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DC Area Sees Median Incomes Soar As the Rest of The Nation Languishes

Posted by khalling 10 years, 7 months ago to Economics

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eat cake

SOURCE URL: http://blogs.wsj.com/economics/2013/09/19/washington-sees-incomes-soar-as-most-of-u-s-declines/?mod=WSJ__MIDDLENexttoWhatsNewsThird

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Posted by Spinkane 10 years, 7 months ago

Off with their heads!
The Pigs are in the house!
Our humble civil servants are just more equal than us; that’s all.

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Posted by johnrobert2 10 years, 7 months ago

Mark Stein, on 'Rush Limbaugh', was commenting on the same thing. People seeking the empty riches of unearned wealth, gravitate to the center of where it is found. In the 1960's, Detroit was the center of the highest median income, but they made things which could be sold. Now, the US makes government (and to my eye, our government is being sold). He also pointed out if you look at any center of government at any level (I will except municipal), you will find an accretion of those seeking a nearness to the seat of government for its ease of access to it.

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  Posted by ObjectiveAnalyst 10 years, 7 months ago
  
  Hello johnrobert2,
  I concur. This gravitation is in the direction of an economy built on shadow, without true substance. Since government produces no tangible asset, it can't sell its wares. This means the only way to grow a bureaucratic economy is to create an increasing revenue stream through taxation or printing. Neither one is good for those who are not taking advantage. Talk about incentive... if you lack proper virtue, this is an opportunity. Of course like all bubbles this too will burst and the piper will demand his due. The only questions are who will pay? And, when will it happen? Basic economics would have us expecting high inflation by virtue of the conditions. We are getting some inflation. Of course it is on many things we all need, but the government doesn't count those things! The widespread inflation has not yet occurred to the levels where I am forced to raise my own rates despite my concerns for loss of business due to scarcity of work and hungry competition. I have not raised rates in years, yet my customers sometimes do find desperate vendors, or send their work overseas. It is as if the government is orchestrating an economic strangle-hold. They apply just enough pressure (taxation, regulation) to keep you static or worse, while they direct money to themselves.
  Regards,
  O.A.
  
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    Posted by khalling 10 years, 7 months ago
    
    But-did you read the part where they also said within DC, also has the largest DECLINE into the poverty as well? interesting dichotomy. My other fav example of that is Santa Fe, NM. I call it the Emerald City. While much of the state is impoverished with towns drying up in front of your eyes, Santa Fe flourishes. With the ensuing crime, I would not be surprised if they walled themselves in-something tasteful and adobe of course
    
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