Ever wonder what happens when a city declares bankruptcy? Check this out. http://www.theage.com.au/world/debt-threat-to-detroits-art-collection-forces-city-to-get-creative-20131227-hv6yf.html
Here, we have successive conservative (sic) governments selling off public assets to balance the books. Kennett did it. Howard did it. Various other states have done it in the form of their utility companies. Abbott is about to do it with Medibank Private. Note the line in the article: it's no solution. It just delays the inevitable. This ties in with Frank's missive about the down side of current society. The return on the early infrastructure investments are no longer coming in. The capital was sold out. Not sure where this is heading, but it ain't going to be pretty. Just ask the people living in Detroit (or maybe Geelong.....). Jan Melbourne, Victoria, Australia [email protected] Sooner or later, I hate to break it to you, you're gonna die, so how do you fill in the space between here and there? It's yours. Seize your space. ~Margaret Atwood, writer _ __________________ _ _______________________________________________ Link mailing list [email protected] http://mailman.anu.edu.au/mailman/listinfo/link
