Silicon Valley’s “hourglass economy”
A disturbing trend that I wrote about last year, in which middle-income families are being squeezed out of Silicon Valley, while numbers of families earning >$100,000/year increase slightly and lower income families increase, continues this year, as the income gap widens. The result is an hourglass-shaped economy with less and less “middle,” which makes “upward mobility” much more difficult.
Although this conclusion should be obvious, those of you who know “The Valley” also know that Wall Street does not have a monopoly on greed and “cluelessness.”
-Bill at Cheshire Cat Photo™
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