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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (55595)	8/30/2006 10:39:11 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 116555

well, i think Michigan is a little bit of a special case. there aren't too many other areas of the country where blue collar workers were pulling down 200K a year as they were at Ford's Michigan Truck Plant in Wayne in the late 1990s. in 1998 that one plant grossed $11 billion and had profits of 3.7 billion. that situation wasn't likely to persist in today's world or we'd have to say, "Capitalism is broken." so it's not surprising to see Michigan at the top of the list. i see from that graphic that Flint income is down 20% from 1999. the good people of Flint can at least take comfort in the fact that their largest champion (and i do mean large), Michael Moore, has seen his own income go WAY up compared to 1999. and he has a nice millionaire's residence in Manhattan in which to contemplate Flint's woes. "I walk among them. I live on the island of Manhattan, a three-mile-wide strip of land that is luxury home and corporate suite to America's elite..... Those who run your life live in my neighborhood. I walk in the streets with them each day...It's a lot like Flint. It's poor, noisy. The only difference is that you can see foreign films here."--Michael Moore