howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
#1
quite an interesting read as we have been discussing the possibilities of default from countries.
relevant also to the issue of p.f.i
http://www.independent.co.uk/news/world/americas/broken-america-the-towns-left-in-financial-ruin-7920654.htmlGuest 696- Registered: 31 Mar 2010
- Posts: 8,115
#2
That looks rather woeful for America, in particular California.
Is that the State where the Terminator is governor?
With the DHB submission sent through, we really need to think carefully about it, that the Port of Dover doesn't declare Chapter 9 some way down the road
Guest 725- Registered: 7 Oct 2011
- Posts: 1,418
#3
It's good to highlight this problem, Howard, but really it's old news. Municipal defaults have been happening more and more over the past few years. California has a particularly bad problem for various reasons one being that they seem to be stuck in the sixties, Haight Ashbury and all that. There is a certain la la land mindset to certain parts of this state and having the Governator in charge has only made things worse.
He is a renowned eco-warrior, convinced that the world will end due to the ridiculous supposition that carbon dioxide will destroy the planet. There's one born every second but he has taken the religion to ridiculous proportions.
They have some of the most egregious green taxes and burdensome environmental red tape on the planet which has led to an exodus of major companies from the state. It also makes the population poorer.
They are spending billions upon billions on a high speed rail link which goes nowhere (think HS2 on acid).
All in all they stand as testament to the global warming religion which, unfortunately, this government are set to ignore the lessons therein.
Where America leads we follow which is why the green economy, green ideas, green energy, a green government and a green Prime Minister will lead us all to disaster.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
#4
In 1992, Adams County Colorado defaulted on a whole load of municipal bonds. Only nifty footwork by some lawyers averted the bankruptcy of the city of Denver.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
#5
One of the important points in that report, is that if you want good quality services, you have to pay for them and the only way that can be done, is through taxes.
Some services may not be necessary, of course others are, so it is a balance.
Roger
PS: I agree with Phillip, green taxes are screwing most people (unnecessarily) with very little, if any, benefit.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
#6
yes roger spend on services,not cut backs.
green taxes you either love em or hate them no middle ground.
Guest 725- Registered: 7 Oct 2011
- Posts: 1,418
#7
More like Broken Europe:
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Couldn't have put it better myself.
Guest 745- Registered: 27 Mar 2012
- Posts: 3,370
#8
America will have to impose import restrictions to stem the flow out of money from America.
They have tried to negotiate currency balancing with china and others to no avail.
You cannot compete with a country where people work for a dollar a day.
The debt is so big it can never be paid of, default to stave of the collapse of society will probably happen.
And the same in the UK and Europe to.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
#9
oh dear another day,another doller/euro.never ending cut backs.
default the debt and start all again but with tighter controll.
