Wednesday, October 19, 2011

Washington D.C. is Now the New Monster Income Center in America (Replacing Silicon Valley)

What can one say? The money flow shows the sad situation, money is flowing from the productive class to the unproductive, interventionist, bureaucratic, meddling class.

 Federal employees whose compensation averages more than $126,000 and the nation’s greatest concentration of lawyers helped Washington edge out Silicon Valley as the wealthiest U.S. metropolitan area, government data show, reports Bloomberg.

The typical household in the Washington metro area earned $84,523 last year. The national median income for 2010 was $50,046. The unemployment rate in the Washington metro area in August was 6.1 percent, compared with 10 percent in San Jose, according to Labor Department figures. Nationally, joblessness was 9.1 percent in September for a third straight month.


  1. The 20-something's get it from both sides. Not only is the cost of living ridiculously high, housing prices are through the roof. Even if you stash money away every month, you're fighting the dc housing price increases (housing boom part 2) AND bernanke's printing presses.

    Punish the young and the savers at the expense of the older and indebted crowd. Maybe we need to introduce another program to help people afford their mortgages and continue to price out the young. In fact, let's eat the young while we're at it.

  2. And like most economic bubbles the question is always "when is it going to burst"...although in this case the ramifications are going to be much larger than anything we've ever seen.

  3. Rothbard explains this process of coercion best:

  4. Washington, D.C. and environs, the last Boom-Town in America. The original idea of the public sector govt. worker is they were there to serve the populace. It has entirely flipped, the populace is there to serve and enrich them. If this news does not get Americans riled up, and boot the bums out, one wonders what will?