Why Your Town Is Broke

Here where I reside in the upper MidWest somewhere near.. Iowa; with a median population of 9,300, (down since 2000), estimated median household income in 2009: $33,157 (it was $34,442 in 2000), there are always announcements of yet more cuts to 'the least of these' various crucial things. The sidewalks and streets are crumbling into gravel. Most here are obese, and there is no really good places for a grownup to do fun exercises and recreation, save for joining the fitness place with the indoor elypticals and such.
LIBOR has to do with this? Who'da thunk!
www.democracynow.org...
(Also, see the video in that link.)

MATT TAIBBI: Right, most individuals think of it in terms of their own mortgages or their own credit cards. And it’s true, most of those people probably benefited when they were manipulating Libor down. But now, remember, they also manipulated it upwards at times. But when it was downward, those individuals did benefit. But on the whole, overall, ordinary people actually suffered when Libor was manipulated downward, mainly because local governments, municipal governments tended to lose money. So if you live in a town that had a budget crisis, that had to lay off firemen or teachers or policemen, or couldn’t provide services or textbooks in their schools, you know, that might be due to this. And remember, even the tiniest manipulation downward, when you’re talking about a thing of this scale, would result in tens of trillions of dollars of losses. So it’s an enormous scandal. It eclipses anything we’ve seen since 2008

when you go to war it cost money - that money will eventually begin to run out (unless reprinted for cheap)- when it begins to run out those who pay taxes and their cities foot the bill and lose out most.

we're all broke but we're not broken. the bankers fked us all and they did it with help of politicians worldwide. the only question now is what comes next because the economy is like a giant taking a long time to fall down, but he's already dead.

reply to post by LittleBlackEagle


I think what comes next is SOME REQUEST PAYOFF FOR MONEY BORROWED? Will pay off include land lost smh or another countries finances taken to pay the bill. Sometimes the political gamers behave like gangsters in large cities taking over neighboor hoods ect. -GET DOWN OR LAY DOWN- Just on a larger scale cities = countries small countries.

Those banksters "fixed" us all worldwide. Austerity for the 99% serfs. Those "wars" were only destruction operations to keep the 99% dead, sick, and poor.

reply to post by Saucerwench


Small towns are broke because there is no steady income anymore.
Raising taxes only drives people out because they can't afford to pay.
In my opinion, there may be an agenda to actually drive folks to more secure areas.
People are slowly being corraled into larger cities for better paying jobs.
Because people have allowed money to run their lives.

Ever notice small shops and stores closing on a regular basis? I have.
Or all the paperwork involved to actually run a decent business in a small town. I have.

What has happened over the past few decades:
The large businesses are taking over and forcing small businesses out.
In turn, they get large tax breaks that pass the buck to the consumer/small business.
Which breaks the bank for most people, and gets the same politicians in office.

It a viscious circle that started with the downturn of the American economy.

reply to post by havok

Ever notice small shops and stores closing on a regular basis?

YES. I have noticed. If it keeps up, most US places will look like Libya post-NATO humanitarian bombings. What a clever way to save on those expensive munitions.

Your town is broke because of YOU.
YOU wanted cheaper products. Income the bog box retailers.
So the small businesses closed.
YOU wanted still cheaper products. Incomes Amazon.
YOU resent paying your local sales taxes. Amazon wins again.
So the big box retailers are failing.
Your local government must cut services but not saleries because YOU support the union contracts.
YOU vote for politicians that promise to restore services. But they sell bonds to cover the costs.

So essentially YOU are at fault for the whole thing.
I hope you are happy.

Originally posted by samkent
Your town is broke because of YOU.
YOU wanted cheaper products. Income the bog box retailers.
So the small businesses closed.
YOU wanted still cheaper products. Incomes Amazon.
YOU resent paying your local sales taxes. Amazon wins again.
So the big box retailers are failing.
Your local government must cut services but not saleries because YOU support the union contracts.
YOU vote for politicians that promise to restore services. But they sell bonds to cover the costs.

So essentially YOU are at fault for the whole thing.
I hope you are happy.

so it has nothing to do with the 900 trillion in derivatives, credit default swaps and libor rigging and the debt associated with that eh? you're missing the whole show while you sit and blame the masses for how the few conduct business. sad how much they pulled the wool over your eyes.

Originally posted by LittleBlackEagle

Originally posted by samkent
Your town is broke because of YOU.
YOU wanted cheaper products. Income the bog box retailers.
So the small businesses closed.
YOU wanted still cheaper products. Incomes Amazon.
YOU resent paying your local sales taxes. Amazon wins again.
So the big box retailers are failing.
Your local government must cut services but not saleries because YOU support the union contracts.
YOU vote for politicians that promise to restore services. But they sell bonds to cover the costs.

So essentially YOU are at fault for the whole thing.
I hope you are happy.

so it has nothing to do with the 900 trillion in derivatives, credit default swaps and libor rigging and the debt associated with that eh? you're missing the whole show while you sit and blame the masses for how the few conduct business. sad how much they pulled the wool over your eyes.

Good for you on correcting that foolishness of reply.

It amazes me how foolish some folks are. It is CERTAINLY CLEAR to see that this such nonsense of blaming the PEOPLE rather than the SNAKES and DEVILS who caused this MESS is among the newest of tactics now being utilized in the world of brainless fools and online shills. [color=limegreen]Their mission is to INFLUENCE as many folks as possible to get them to think that all the BLAME should be placed upon the average AMERICAN FAMILY whom have done NOTHING to CAUSE this EPIC DISASTER. The American citizen whom had their jobs outsourced leaving them VERY LITTLE TO NO MONEY to even get by on NECESSITIES and when we try to STREEEECCCCHHHH our budgets and opt for lower prices just to SURVIVE, its OUR FAULT say the fools. WOW!!!!!!!!!!!!!!!!!!!!!

Thats one of their newest tactics. Beware!

If the [color=gold]SUPER WEALTHY would stop spending TONS of money on LOBBYING politicians and paying online shills, maybe they could start paying their FAIR-SHARE in taxes and get this economy rolling again and get our nation back in shape. [color=gold]The money HAS to come from SOMEWHERE even with DEEP CUTS but heck, lets just take from the HAVE-NOTS instead say these same fools while at the same time they have the NERVE to place ALL the BLAME on these same STRUGGLING families as well.

WOW. What a SAD planet we are currently living upon.