On Fri, Oct 7, 2011 at 3:31 PM, richardwillytexwilliams <[email protected]>wrote:
> > > Denise Evans: > > This helps to show that characterizing those without > > jobs or those struggling to survive on low wage jobs > > as "ragamuffins and malcontents" is far too narrow > > in scope... > > > "American households levered a $6 trillion net inflow > of foreign savings during the decade 1998 through 2007 > into a bubble that benefited them far more than it did > Wall Street. > > The impact of the bubble on the household balance sheet > exceeds the growth in real-estate assets, moreover, > because most small business expansion followed the > housing bubble..." > > Here's the story of the People's Ponzi scheme in a nutshell: > http://tinyurl.com/5svylmb > > So very well put. Thank you for this article. The municipalities were swimming in revenue so much that the Austin, TX chief of police, just recruited away from Atlanta, threw a hissy fit when he flagged down what he thought was an APD car and it turned out it was just another white car. The police chief ordered all APD cars to immediately be repainted to black and white, the proper color for police cars. After that, he entered into a bidding war between the City of Austin and Dallas. Dallas won the bidding war and he went to work there. God bless and keep him.
