Friday, November 02, 2012
http://www.theatlantic.com/business/archive/2012/10/the-hideous-inequality-exposed-by-hurricane-sandy/264337/#.UJQ2jY2Fbn9.facebook / .................. This 30 year trend will take a long time to reverse. It's amazing that so many can't see that the high cost of living (i.e., Necessities: housing, medical, insurance and food) is what is killing the economy. Prices go up and salaries stay down or go down. No disposable income for the majority = economic disaster. "New census data shows that the city is the most economically divided it has been in a decade, according to the New York Times. As has occurred across the country, the rich are getting richer and the poor are getting poorer. Twenty-one percent of the city is in poverty, and the median household income decreased by $821 annually. Per the Times: "Median income for the lowest fifth was $8,844, down $463 from 2010. For the highest, it was $223,285, up $1,919."