Could the great income inequality in this country have caused the Great Recession?
Apparently, recent economic studies are advancing this idea, to wit, that squeezed middle-class earners, beginning in the 1970s, increasingly borrowed to keep afloat, betting chiefly (and wrongly, as it turned out) that the value of their heavily mortgaged homes would forever rise.
“We were playing for our lives,” Pete Vaziri said in the euphoric aftermath of Friday’s beatific 33-14 victory under the lights at McGann-Mercy in Riverhead.
Indeed, Friday’s high school football game was a must-win for the Bonackers, who, as a result, nailed down Division IV’s last (eighth) playoff spot. That means they’ll be playing in the first round at top-seeded Babylon, which crushed them 44-7 in the season opener on Sept. 7, but Babylon (a traditional thorn in East Hampton’s side) can wait.