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Index » Events & News » Financial News
 

New York City is Brazil

 
Author: Robert Carberry
 

It is always funny when "third-world" news stories pop-up regarding outrageous differences in income. Sometimes one cannot believe the evil that occurs in mankind that would allow such a thing to happen. Thus, revolution of a society is inevitable. We all know about places like Brazil, Venezuela or Colombia where the income disparity is nauseating as well as the poverty factor. This always leads to socialist or communist governments to take hold. The USA is always somehow "in shock" when this happens.

This takes us to New York City, good old capitalist America. A couple of news stories coming out of of the city of late point to an increasingly distressing situation that puts the place in a bizarre world. First, word has come out that the cost-of-living for renters-not even to mention potential buyers-just keeps on going up. The latest reports have about 33% of renters spending at least 50% of their income on rent. In other words, nearly unlivable. Secondly, in an almost nightmarish story, recent New York City Police Department graduates have been applying for food stamps. Yes, food stamps! New York City's "Finest" are quickly becoming its poorest. These are the same people who make it possible to have record amounts of tourists pouring into the city. Of course, when it comes to contract, the city just does not have the money. Uhhh... yeah right. Thus, new recruits are coming in to the department making around $25,000 a year. In New York, that kind of money can't buy you a paper bag, forget an actual shot at the "American Dream."

The simple reality is this: Workers are just not cared about. The rich are always cared about. They make the rules, donate money to campaigns and pay people off. Lies that the rich will somehow "leave" the city if taxes are raised on them are comical. Where are these people going exactly? Meanwhile, the "working stiff" is being drilled into the ground with assorted fees, taxes, adjustments, and simply not being able to keep up. Thus, stress, tension, anger and a never-ending obsession with money become the ways of life. Walk by any group of people talking on a corner in NYC and you will hear a financial conversation in about 70% of the chats. What about sex? What about vacation talk? How about a good book? Nah, not in the city of financial robots. Sometimes I think some people can't wait to keel over so the stress can finally be taken away. Of course, this has major negative societal effects. Criminal "rappers" or "mobsters" become idols since they have the money. School becomes a "loser's way" in life. Quick, get-over schemes to make money rule the day.

The American dream was always to go to school and get a job. Then, when enough money was saved-usually a moderate amount-buying a home would come next followed by a raising a family. In NYC along with some other places, that dream has died. To work a job making around $50,000 a year and for a house to cost around $500,000, something has to give. It usually is the person's mental health.

So, don't be surprised in the future when more and more studies compare NYC to a third-world nation-the super rich and everyone else. How far this will advance politically is anyone's guess. America is very skilled at knocking off third-party contestants. However, this racket cannot continue forever. Money has become the "god" in too many places. Why would a reaction against this insanity be any different here as it has been in Brazil or Venezuela?

 
 
 

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