“Recent case study research suggests that some community leaders may deliberately retard local economic development to maintain their position of power, and promote only the well-being of those who are aligned with them politically or otherwise (Duncan, 1999).

“Duncan (1999) demonstrated using rural case studies that subtle factors and processes are at work within communities according to which individuals in positions of power can deliberately hold back other members of their communities. The fact that economic development can hurt existing businesses by driving up local wages or reducing prices has long been recognized, but has for the most part not been confirmed by careful and rigorous study. At first glance the subtle forces identified by Duncan may appear to be impossible to measure empirically at the county level. However, it is clear that the social capital network in place in a community and the relative power of local governments are critical in determining whether these 'political' factors are able to come into play.” 1

• Foreclosures are up 261%.
• Major and many small banks have failed.
• Because food, gas, and the cost of living has gone up but wages remain stagnant, we have suffered as much as a 30% drop in real income.
• Folks have filed 1.8 million bankruptcies caused by medical costs.
• The cost of gas for the average family has gone up by $2200.
• The net shrink in the earned income for 3.7 million wage earners affect:
  
  • 73% of men blue collar workers
  • 28% commercial workers
  • 14% retail
  • 13% professionals
• Also workers are losing benefits. Source: MSNBC.COM