Skip to comments.Report: Bay Area jobs surge creating 'superstar' economy of haves, have nots
Posted on 04/02/2014 5:50:43 PM PDT by artichokegrower
The economic surge in the Bay Area and other parts of California that's being led by the tech boom could create a "superstar" economy of haves and have nots, an economist said in connection with a new economic forecast that's being released Wednesday.
In their quarterly report, experts with the closely watched UCLA Anderson Forecast predict the current drought won't choke the economic upswing in California -- although the protracted dry spell could cause job growth to expand more slowly than initially anticipated.
While the issue of economic haves and have nots wasn't addressed in detail in the current report, Edward Leamer, an economist and director of the UCLA Anderson Forecast, warned in an interview with this newspaper the bifurcated economy.
(Excerpt) Read more at mercurynews.com ...
Edward Leamer a public employee at a public university
LEAMER, EDWARD E PROF-AY-B/E/E University of California, 2012 Base pay $293,600.04
More like “knows” and “know nots.”
Maoists always leave public employees out of rants concerning “haves and have nots”. It confuses the unwashed.
Isn’t that the whole point of leftism?
And it starts with those who have a job vs. those who don’t.
Sounds like more meme-building, and pertaining to Jesse Jackson’s planned shakedown.
That always works and I DO get an American male who helps me and I can finally relax and unclench my brain and body.
BTW: is that area south of the Bay Area STILL big on growing the 'chokes? I am having a huge one for dinner. YUM!
The poor of America have tons more food, shelter and stuff than the middle classes of most of the rest of the work.
“... the haves and have-nots ...”
This is not just a Bay Area thing, or a California thing,
the middle class is being eliminated across the entire nation.
Its not the poor who are suffering here. Its the (formerly) middle class.
San Fran is finally becoming a Marxist state: there is a powerful elite and a destitute peasant class with nothing in between.
“San Fran is finally becoming a Marxist state: there is a powerful elite and a destitute peasant class with nothing in between.”
Wrong! The destitute peasant class has been run out of SF. Bayview/Hunters Point and Potrero Hill used to be minority slums with public housing. That’s all gone now and luxury living has taken it’s place. Companies like Facebook now have fancy busses and even ferries to take their “workers” from San Francisco to their HQ in Menlo Park. They’ve taken over Sun Quentin, and half of the old Raychem property there. It’s huge! The old titans are being moved out for the new ones.
CA deserves it. Look at the communities thriving under fracking of gas and oil. Everyone is making money and the industry requires many workers who are well paid. They are able to spend money and stimulate local economy. Industry also needs a large support footprint. Drilling hires many drivers, engineers, pipe fitters, rentals and restuarants/bars to entertain the workers on off hours. High tech hires a small elite group of workers per factory. CA is a perfect illustration of the model. Few high paying workers are in no position to spend and stimulate the entire region they live and travel in. States that frack have unemployment below 4 percent. CA the center of elite high tech has unemployment above national average. As long as CA continues with the attitude that oil and gas is evil, they will suffer. Funny, most high tech businesses and workers are Dem liberals and the people who are throwing rocks at their commuter buses are also Dem liberals. If GOP is smart, say nothing and let the Dem kill each other. Maybe some of those high tech owners and workers will experience first hand Dem class warfare and become future GOP voters.
What upsets me about the article is that the reporter sourced a public university professor to talk about the haves and have nots while never addressing what that same professor is compensated. I would say that $293,600.04 per year puts him in the category of being a have especially when you figure in his 6 figure pension when he retires.
“This is not just a Bay Area thing, or a California thing, the middle class is being eliminated across the entire nation.”
That was the point of Obamacare, the 2008 stock crash and Dodd/Frank. The crash bled the middle class’s retirement money, which caused a massive loss of jobs. Meanwhile the banks were bailed out.
After the middle class spent the rest of its retirement funds looking for work, Obamacare was implemented to take the rest. Those inthe middle class that faired well will get hit with the higher taxes. Those that didn’t will wind up o some form of government assistance.
Which means its a vote for the rats so people don’t lose their bennies. And now, immigration reform will introduce 11 million low wage people to take what is left.
In the end, their will be a permanent rat party consisting of liberals and Marxists. Then the end game is taking the guns. My estimate is two elections left. Conservatives will have to come up with a better game plan then my opponent is a liberal and if he wins I am staying home.
Because that’s what the rats want.
The best illustration of this: compare Pennsylvania and Ohio, where fracking is legal, to New York state, where Governor Andrew Cuomo still hasn't allowed it. The states of Pennsylvania and Ohio are enjoying an economic revival as natural gas wells drilled by fracking are creating a lot of jobs in the rural areas of the state, while upper New York state is falling into economic malaise.
What whiners..... ‘Silicon Valley’ used to be dominated by NACA/NASA, Lockheed, Fairchild, Loral, and other aerospace companies. That was followed by the instrumentation and ‘tech’ boom followed by the i.c. and ‘tech boom followed by the bio-engineering and ‘tech’ boom followed by the current software and ‘tech’ boom. This area has always been those with tech jobs that pay well and those in service industries.
For the state of California, the SF Bay Area has always been expensive and except for Beverly Hills tends to overshadow other sectors. Agriculture has fed the world but does not ‘pay’ well. It makes the family land rich (poor).
AND the biggie in the room the public employee who sucks everyone dry and wants a pension to boot
It’s not exactly a secret but elitist white liberals love money and lots of it. They’re not rubbing elbows with the poor folk they always claim to be defending. They live in the big houses, drive the luxury Mercedes and BMW cars, and send their kids to private schools. Yet, in their public lives they’re complete hypocrites when they claim to be defending the poor against the rich. Hey, guess what? Those people are the rich!
There is too many glamorizing of hi tech industries as sources for new high paying jobs. Go to Silicon Valley and you see hi tech has four social layers. On the top are the owners and exec founders. They take the most percentage of profits for themselves as salaries, next is the small number of unique skill American grad that are not available from anywhere in the world, next is a token number of American hi tech workers usually young and have the hip image to enhance the hi tech company image. The bulk of the mundane work is not done by US college grads, but rather foreign H-1B workers from China and India at 1/3 of US tech worker salaries. In a nutshell for one software company does not even hire the amount of US workers like oil and gas industries do. In the end the small cadre of hi tech workers do not have the purchase power to stimulate a regional economy like the numerous good paying workers of gas and oil. Look at up state NY which attracts biotech and hi tech firms in their deteriating cities with the offer of 10 years no state tax deals. The ones that open hire a paltry number of workers compared to oil and gas in PA and OH. Worst these high tech companies opt to hire foreign H-1B tech workers over American college grads. Like Wall Street bankers, hi tech lie to the gov on their H-1B applications.
And like those hypocrites care? Gentrification has been going on for years now and if you saw inside their evil little minds, they’re damn glad to run the minorities off to Oakland and Richmond.
Lifer Commies with literal millionaire type retirements lecturing the public on fairness
” theyre damn glad to run the minorities off to Oakland and Richmond. “
Along with the poor working class whites.
“This is not just a Bay Area thing, or a California thing,
the middle class is being eliminated across the entire nation.”
That’s right; our middle-class way of life has been off-shored to Asia. Much of our manufacturing will never come back because now the CUSTOMERS (formerly Americans) are in Asia now. Why sell to 300 million when you can sell to 3 billion?
“Gentrification has been going on for years now and if you saw inside their evil little minds, theyre damn glad to run the minorities off to Oakland and Richmond.”
Michael Bloomberg’s dream was to make NYC a playground for the wealthy, but he couldn’t attract many; too many had already fled the locusts, and wouldn’t come back. Here in northern NJ, Newark is destined to fail in its bid to re-introduce a white middle class because it won’t re-settle the locusts while other places (Jersey City, for example) are quite willing to do so. In the end, most Americans don’t want to live in any of these places; any emerging middle- or upper- class is mostly composed of imported “replacement Americans” anyway.