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Miami’S Poor Live On $11 A Day As Boom Widens Wealth Gap

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As the luxury bus ferried a dozen of his clients past building sites, Miami property consultant Peter Zalewski rattled off names of 50 area high-rises being financed by money from Venezuela, Hong Kong and Argentina.

Blocks away, locals live on as little as $11 a day.

It’s another boom in Miami, which has been at the mercy of real-estate speculators since the 1920s. The latest influx of capital is deepening inequality in a city where the distribution of wealth more closely resembles a developing country than the most advanced industrialized nation.

“Miami isn’t the gateway to Latin America; Miami has the same economic demographics as Latin America,” said Pedro “Joe” Greer, a doctor whose 25 years of work treating the homeless and uninsured there earned him the nation’s highest civilian honor -- the Presidential Medal of Freedom -- in 2009. “Seventy percent of the families we work with bring in less than $25,000 a year.”

Ah yes the American dream.

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60% of the population in the Miami-area were born outside the United States. Miami looks like the third-world because it is the third-world.

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