American Cities Go Bust! US Dollar Collapse Imminent
Posted by admin in Finance Monday, 14 March 2011 12:50 17 Comments
Overdrawn US cities could face financial collapse in 2011, defaulting on hundreds of billions of dollars of borrowings and derailing the US economic recovery. But as cities are choosing between devastation and default, analysts say really it’s about the fall of American cities and the coming collapse of the Union. It’s the reality America cannot escape, news of debt cash-strapped cities and states all over the country. All together it could amount to two trillion dollars and a bill many of them may not be able to pay. “The problem of the state and local debt is more serious than the real estate bubble,” said Michael Hudson, Wall Street analyst and professor of economics at the University of Missouri. Serious because with millions of Americans still unemployed and losing their homes, there isn’t enough taxpayer money to pay creditors. Local governments which aren’t allowed to operate in the red must come up with the cash. This means some may be choosing between default and devastation. “I think most cities will be able to avoid default by cutting services,” said Joe Weisenthal, deputy editor at The Business Insider. Cities and states coast-to-coast seem to be trying the latter route and the toll it’s taking on the streets of America is undeniable. Camden, New Jersey is the second most dangerous city in the country. You didn’t see many cops on the streets to begin with and now you may rarely see any. The city’s had to lay off nearly half of their police force. In Detroit a …
@tooty008 I see what you are saying, the question is how do we rally the people to a real solution if we dont talk about how we got to where we are? Many people are un aware of this becaue they havent experienced the fallout. The problem is extremely complex because there is no real human plan and never has been one, No one has ever defined economics properly, but I have and people dont want to hear that the solution begins with the understanding and a change in attitude, there is no full venue
@crocfme crime will rise like never before. There will be alot of looting. This will be the Shit hits the fan scenerio. Everybody needs to arm themselves and stock up on food because it’s going to get alot worse
The only thing we learn from history is that we learn nothing from history.
@marhoekful
America’s farming industry is highly mechanised and heavily dependant on oil, not to mention the food distribution system. If the US dollar collapses, America will only be able to trade internationally with it’s gold reserves – and when they run out, so does the oil. Most experts are saying that when America can no longer obtain oil; local food production will decline by at least 40% and distribution will all-but cease entirely.
Scary times….
Russia and China are currently dumping the USD in favour of the Euro. They also plan to change the World Reserve Currency – the oil currency – from the USD to one of their own currencies or the Euro. When this happens, hyper-inflation will hit America like a runaway train.
The situation is FAR more serious than the govt and the media are telling us.
yep, the rich get richer, everyone esle hustles for scraps. dont think whats happening in the middle east cant happen here
how bout pulling out of the middle east wooooooooooowwwwwwwwww over 200 million a day we would save holy shit oo wait not us in america we have to police everyone
@marhoekful i feel what your saying but the majority of people live alright rite now so they dont feel like theres a problem. Moron people alway wait till their in a line heading to an oven or a camp to speak up and even then they dont have the fucking balls to rebel. Hopefully even more people like you and i come around and realize that all we have to do is stop the economy and stop the gov. from continuing their fucked up ideas. I hope we meet in the battleground with all other freedom lovers
@projectcracka The only way to beat the banking/corporate power structure is to reject the monetary system and take back control of our basic needs. We need to come together and tear up our mortgages, take control of our food supply, etc. This is the only way. Between the lines protesting is ( Your in charge…Your in charge…your in charge) We need to get together and turn our backs, tear up credit cards and mortgages, and take control of food supply.
@cramsa The only way to beat the banking/corporate power structure is to reject the monetary system and take back control of our basic needs. We need to come together and tear up our mortgages, take control of our food supply, etc. This is the only way. Between the lines protesting is ( Your in charge…Your in charge…your in charge) We need to get together and turn our backs, tear up credit cards and mortgages, and take control of food supply.
@tooty008 The only way to beat the banking/corporate power structure is to reject the monetary system and take back control of our basic needs. We need to come together and tear up our mortgages, take control of our food supply, etc. This is the only way. Between the lines protesting is ( Your in charge…Your in charge…your in charge) We need to get together and turn our backs, tear up credit cards and mortgages, and take control of food supply.
America is really a 3rd world nation, but it’s masked by a fake economy, just as fake as the value of the USD/Federal reserve note paper trash… America is the Titanic that was thought to be “unsinkable” by the sheep of the day, and there were not enough life boats on this ship too… get ready.
America is really a 3rd nation, but it’s masked by a fake economy, just as fake as the value of the USD/Federal reserve note paper trash… America is the Titanic that was thought to be “unsinkable” by the sheep of the day, and there were not enough life boats on this ship too… get ready.
SMELL THE REVOLUTION ITS COMING V
no jobs in connecticut . its tough out here in the real world. in what Wall st. calls a recovery?
Nearly all US states are bankrupt………BANKRUPT!!
Same shit is gonna happen to us that happened to the Roman Empire. People stop paying attention for a minute and the ones in power take a shit on their people. Fuck it we obviously have not learned anything for the past 2k yrs.