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  •  just another sign of how well the rich are doing (7+ / 0-)

    in an otherwise drab economy, especially here in Silicon Valley where the rich get richer and the poor get poorer.

    The Silicon Valley is adding jobs faster than it has in more than a decade as the tech industry roars back. Stocks are soaring and fortunes are once again on the rise.

    But a bleaker record is also being set this year: Food stamp participation just hit a 10-year high, homelessness rose 20 percent in two years, and the average income for Hispanics, who make up one in four Silicon Valley residents, fell to a new low of about $19,000 a year— capping a steady 14 percent drop over the past five years, according to the annual Silicon Valley Index released by Joint Venture Silicon Valley, representing businesses, and the philanthropic Silicon Valley Community Foundation.

    Simply put, while the ultra-rich are getting even richer, record numbers of Silicon Valley residents are slipping into poverty.

    My Karma just ran over your Dogma

    by FoundingFatherDAR on Tue Mar 12, 2013 at 10:27:16 AM PDT

    •  80% of households in bay area make over 35k (1+ / 0-)
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      Eyesbright

      That stats from the article you linked to also. As is this quote..

      The Silicon Valley is adding jobs faster than it has in more than a decade as the tech industry roars back. Stocks are soaring and fortunes are once again on the rise.
      Food stamp participation is up over the last 10 years? Maybe that's because California's food stamp participation rate is one of the lowest in the nation? From 47/50 there's not much place to go but up.
      Simply put, while the ultra-rich are getting even richer, record numbers of Silicon Valley residents are slipping into poverty.
      I'm not sure they proved this. Or that the story isn't a lot softer than this, something to the tune of, "Silicon Valley not able to fully weather the housing and financial crashes that the rest of the nation manufactures while SV actually creates things."

      You Hate Cuts 2 Medicare? Do You Love Obamacare? It added $1 trillion to Medicaid.

      by CornSyrupAwareness on Tue Mar 12, 2013 at 12:45:53 PM PDT

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