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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.93-1.8%Nov 14 4:00 PM EST
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To: elmatador who wrote (45132)1/11/2009 10:44:11 AM
From: arun gera  Read Replies (1) of 217764
 
>Municipalities with begging bowls now extended for over a trillion of Federal taxpayer dollars>

Of course. The Federal Government can print money, while local governments need to balance their budgets. My experience in living in and visiting small town america is that the most municipal governments had established the core infrastructure (Town Hall, police, fire brigade, schools) as early as 1910. And that core model still defines small town america. This predates World War 1, Federal Reserve, and Ma Bell. And that model works fairly well and is reasonably priced. For example, one can great education in a top 10 percentile school district, that is comparable to better private schools that charge two to three times the money.

Nevertheless, the local governments will have a tough time adjusting to the new real estate market, and this will reduce the services they provide.

-Arun
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