It's No Accident

"For confirmation of the old adage that the rich get richer and the poor get poorer, take a look at the US housing market. Lavish Wall Street bonuses mean that apartments and houses for the well-off in New York are still rising smartly in price. Meanwhile, in the poor US city districts where many blacks and Latinos live, something very nasty is going down."

You can read the whole article for more analysis from that fire-breathing Marxist publication, the Financial Times.

Technorati tags: predatory lending, subprime lending, class analysis, class warfare

Posted by John Lacny at 09:57 PM | Permalink | Comments (17) | TrackBacks (0)

Today is not only International Women's Day, but the 90th anniversary of the February Revolution. Probably there is no one alive anymore who has any memory of Russia under the Romanovs -- or at least, no one with an adult memory. The world is a very different place from what it was 90 years ago, and to the extent that the changes are positive (and many of them are), it is impossible to overestimate how much they owe to events in Russia in that year.

Liberated Woman, Build Socialism! -- 1920

Posted by John Lacny at 09:40 PM | Permalink | Comments (4) | TrackBacks (2)