Category Archives: The destruction of the middle class

Bezos Admits His Fortune Is Due to Public Infrastructure….Even as He Fought Paying a Homeless Tax in Seattle, Shakes Down Cities for Subsidies

Bezos admits he and other squillionaires didn’t do the “heavy lifting” of building the infrastructure on which tech enterprises depend….yet tries to depict a space venture as a greenfield project. Help me.

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Inequality Indicator: Retirement Homes in Secondary Tourist Area (Door County) Bid Way Up

Yves here. Those of you who know and love Door County (a peninsula in Wisconsin with Lake Michigan on one side and Green Bay on the other) may be offended at it being called a “secondary” tourist area. But it almost entirely a regional holiday destination, laid back, outdoorsy, with lots of hiking and biking […]

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Wolf Richter: My Fancy-Schmancy “Fed Hawk-o-Meter” Ticks Down, Still Red-Lines. In Passing, Fed Plants Seed for Removing “Patient”

Not surprisingly, given economic weakness in Europe and China plus Trump trade war saber-rattling, the Fed seems less gung ho about the health of the economy than it was last summer.

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