[lbo-talk] "Portfolio Diversification in your Income"

[mike larkin]

http://www.washingtonmonthly.com/archives/individual/2006_07/009259.php

EUPHEMISM WATCH....We need more euphemisms, and I
really like this one: "portfolio diversification in
your income."

Need an explanation? Here it is:

    Middle-class city dwellers across the country are
being squeezed....In New York, the supply of
apartments considered affordable to households with
incomes like those earned by starting firefighters or
police officers plunged by a whopping 205,000 in just
three years.

    ....Firefighters who want to live in high-priced
cities can work two jobs, said W. Michael Cox, chief
economist for the Federal Reserve Bank of Dallas. “I
think it’s great,” he said. “It gives you portfolio
diversification in your income.”

Yep, it means working two jobs because housing costs
are too high. Brilliant.

Via Hilzoy.

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