The contempt of this government for the middle class sometimes becomes blindingly clear.
The New York Times ran a piece Sunday discussing a new Brookings Study showing how cities are becoming polarized, so that only the rich and the poor survive. Not to worry, says an economist for the Federal Reserve. Who cares if the fire fighters, police and teachers can’t afford to live in the city where they work?
Firefighters who want to live in high-priced cities can work two jobs, said W. Michael Cox, chief economist for the Federal Reserve Bank of Dallas. I think it’s great, he said. It gives you portfolio diversification in your income.
Only an economist would see working two jobs as “portfolio diversification.” The rest of us might just see it as an economic squeeze play in which the middle class has become expendable. Yeah, the rich need the services of these middle class service people, but truck them in from cheaper areas, like so many low-priced electronic gizmos from some foreign country.
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