According to this graph, which I have shamelessly borrowed from Paul Krugman (who obtained his data from the Federal Reserve), the best years for income growth were those immediately following World War II. Those were the days that brought us the Middle Class and what used to be known as the American Dream. How we are supposed to sustain a consumption-based economy (read: multi-billion-dollar casinos) on dwindling income growth is a question for far wiser heads than mine.
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Recent Posts
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- If you can’t beat ’em, cheat ’em; Fun & games
- Pennsylvania soggy; Epic fail in North Carolina
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- Atlantic City rebounds; Sibella dumped; NFL suspicions
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- Sibella scandal spreads; Supremes forestall Seminoles - 56,265 views
- You can’t fix stupid; Good-bad news on the bayou - 56,168 views
- If you can’t beat ’em, cheat ’em; Fun & games - 54,606 views
- Pennsylvania soggy; Epic fail in North Carolina - 55,542 views
- Atlantic City rebounds; Sibella dumped; NFL suspicions - 55,521 views
- Profit vs. investment on the Strip - 1,055,329 views
- Lame nag; Frissora overpaid? - 578,431 views
- The evils of bingo; Wynn’s Aqueduct exit - 90,455 views
- That casino smell - 63,582 views
- Bally’s opens, Chicago yawns; MGM, tree murderers - 58,053 views
- MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi - 57,633 views
- MGM paralyzed; DraftKings debacle; Mount Airy wins - 57,060 views
- MGM limping back; Atlantic City follies; Wall Street Jottings - 56,684 views
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It was nice to know where the buck stopped too under the Man from Independance!