Sunday, September 21, 2008

A high general standard of living is genuine "economic" development

Dear friends,

The recent failure of some of New York City's biggest financial institutions is already having a trickle-down effect on a number of other businesses and their employees, in that city...


The standard of living for thousands of New Yorkers will go down soon. Yet, ruthless, greedy managers who make far more money than they even need to enjoy life will either be saved by the government or just take their "loot" and run. Worse yet, whoever gets hurt is of no concern to them.

In any case, I saw the very short piece below, regarding a New York City cabbie who is experiencing harder times already. The government surely will not help him, in any way.

G. Djata Bumpus
http://www.nydailynews.com/money/2008/09/17/2008-09-17_cabbies_gear_up_for_bad_times_-2.html

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