Friday, January 25, 2008

Bernanke's hometown

Anyone ever reminisce about their "hometown?" Or listen to Bruce Springsteen's song, "My Home Town?" You know the song; here are it's lyrics:

I was eight years old and running with a dime in my hand
Into the bus stop to pick up a paper for my old man
I'd sit on his lap in that big old Buick and steer as we drove through town
He'd tousle my hair and say son take a good look around this is your hometown
This is your hometown
This is your hometown
This is your hometown

In '65 tension was running high at my high school
There was a lot of fights between the black and white
There was nothing you could do
Two cars at a light on a Saturday night in the back seat there was a gun
Words were passed in a shotgun blast
Troubled times had come to my hometown
My hometown
My hometown
My hometown

Now Main Street's whitewashed windows and vacant stores
Seems like there ain't nobody wants to come down here no more
They're closing down the textile mill across the railroad tracks
Foreman says these jobs are going boys and they ain't coming back to your hometown
Your hometown
Your hometown
Your hometown

Last night me and Kate we laid in bed
talking about getting out
Packing up our bags maybe heading south
I'm thirty-five we got a boy of our own now
Last night I sat him up behind the wheel and said son take a good look around
This is your hometown

The song came to my mind tonight as the Republicans debated here in South Florida, while the Democrats were campaigning and throwing barbs in Dillon, South Carolina. The median household income in Dillon is $20,900, and the median price of a home is $56,000. 26% of the city is below the poverty level, and it has a 10% unemployment rate.

Ben Bernanke grew up Dillon, SC and had his public school education there.

I wonder if he listens to Springsteen.

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