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Originally posted by hawkiye
The article doesn't seem to attribute it to the economic depression but it does show it has been going on a long time as we imported our industry and jobs over seas.
This is coming to a city near you soon has already started in LA. Time to get serious about creating local sustainable cities and communities that are decentralized and not dependant on centralized distribution and trucking for food. Yet the government is trying harder then ever to take over food production and distribution, gee I wonder why...
Time for the peasants to revolt!
edit on 2-1-2011 by hawkiye because: (no reason given)
Overdrawn American cities could face financial collapse in 2011, defaulting on hundreds of billions of dollars of borrowings and derailing the US economic recovery. Nor are European cities safe – Florence, Barcelona, Madrid, Venice: all are in trouble
Meredith Whitney, the US research analyst who correctly predicted the global credit crunch, described local and state debt as the biggest problem facing the US economy, and one that could derail its recovery.
"Next to housing this is the single most important issue in the US and certainly the biggest threat to the US economy," Whitney told the CBS 60 Minutes programme on Sunday night.
"There's not a doubt on my mind that you will see a spate of municipal bond defaults. You can see fifty to a hundred sizeable defaults – more. This will amount to hundreds of billions of dollars' worth of defaults."
Originally posted by MzMorbid
Woooo! My city is number one on the list!
No wonder there's no work to be had.
Liberal Arts Ph.D.s
Originally posted by JohnnyCanuck
reply to post by FlyingJadeDragon
I donno...I was in New Orleans a month ago...didn't look like Detroit to me.