Hunger Games Economics: Washington Sees Incomes Soar as Most of U.S. Declines

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I can tell you as one who spends a fair amount of time in Washington DC that times are good in and around the District. I’ve lived in the suburbs of the place for nearly 20 years (I can’t believe that I just wrote that) and I have never seen as many Teslas, Maseratis, Ferarris, and high end Mercedes Benzes driving down Constitution Avenue as I do now. The place isn’t littered with them, but they are pretty common. More common than in your home town it’s probably safe to say.

The wealth of the country is being aggregated in the “Imperial City” as a friend refers to our nation’s capital. In some ways (though thankfully not in every way) DC resembles the capital city in the movie The Hunger Games. The provinces limp along while the mighty city by the river shines and flexes its muscles.

Washington DC is a city of the 1%, though Washingtonians will never say that in polite company. Officially everyone is here for the “good of the country.”

(From The Wall Street Journal)

As the Journal has noted recently, the U.S.’s lethargic economic recovery is hindering income growth, depriving citizens of spending power and leaving many stuck in poverty.

But D.C. — which wasn’t hit as hard as other major U.S. cities by the 2007-2009 recession — is a different story. Its local economy is expanding faster than the broader nation, and its property market is soaring, thanks in part to increased federal-government spending and an influx of federal contractors, lawyers and consultants.

Click here for the article.

BTW here’s the trailer for the new Hunger Games movie. It looks pretty good. I may even find a way to see it in the theater.