"Land was valuable, and capital was valuable, and labor — who cared?" says David Ellison, a Boston-based money manager. "The attitude was, As long as I buy a few homes and invest in a hedge fund, I'm done. I can sit in my chair and watch football games.""Labor -- who cared"? Anyone who wasn't a frikken money manager, I'd guess. I'm pretty sick of these articles that act like everyone was buying homes and investing. Sure, this is true for wealthy people, but most oAmericans were working its butt off and are still working its butt off if they were lucky to keep their jobs. Anyone who reads this article in particular (not sure about the other ones) and thinks that there is anything profound whatsoever being described is probably part of the problem. These are the people who thought the market would go up forever; these are the people who kept buying houses because houses always increase in value; these are the people who built up the credit bubble. And now they are acting like they are just learning hard lessons or something.
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Seriously, this mix of abandoned-but-large buildings was an important part of what made Berlin's nightlife scene what it is now (i.e., 72-hour partying, bears and glitter).
posted by LMGM at 1:45 PM on March 18