The depressing economy made simple

From the Speaker of the House’s blog — a chart showing the job-losses by month in the past two recessions (red=2001, blue=1991) against the current recession (that suicidal green line plunging to its death).


And even more frightening and reprehensible is the lead story in this Sunday’s NY Times Styles Section.  Dickbag “journalist” Allen Salkin actually published a story that attempts to generate sympathy for the asshole bankers and executives that have caused that green suicide line above.  In Trying to Live on 500K in This Town, he writes:

To many people in many places, it is a princely sum to live on. But in the neighborhoods of New York City and its suburban enclaves where successful bankers live, half a million a year can go very fast.

“As hard as it is to believe, bankers who are living on the Upper East Side making $2 or $3 million a year have set up a life for themselves in which they are also at zero at the end of the year with credit cards and mortgage bills that are inescapable,” said Holly Peterson, the author of an Upper East Side novel of manners, “The Manny,” and the daughter of Peter G. Peterson, a founder of the equity firm the Blackstone Group. “Five hundred thousand dollars means taking their kids out of private school and selling their home in a fire sale.”

Sure, the solution may seem simple: move to Brooklyn or Hoboken, put the children in public schools and buy a MetroCard. But more than a few of the New York-based financial executives who would have their pay limited are men (and they are almost invariably men) whose identities are entwined with living a certain way in a certain neighborhood west of Third Avenue: a life of private schools, summer houses and charity galas that only a seven-figure income can stretch to cover.

The article goes on listing out all the types of expenses the fatcats would have to sacrifice on a meager half-a-mil salary.  It’s almost like Salkin was paid by the executives because he can’t possibly serious. He tries to make the case that the average American worker should feel sorry for these people because if Obama gets his way, they’ll have to sacrifice the chauffeurs, the galas, the two vacations per year, the personal trainers at the gym, the private chefs to cook for them.

Give me a fucking break. The NY Times should be ashamed of themselves for publishing that. Boo hoo, put the kids in public school.

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