Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Nixpix who wrote (107646)	2/1/2010 11:56:03 AM
From: benwood	2 Recommendations Read Replies (3) of 116555

Maybe the taxpayers should build a new city 10 miles away and move there, and let the original city go BK. That's only partly in jest. I said years ago that I thought people would flee cities where the infrastructure maintenance costs would be sky high due to stadiums, tunnels, replacement water and sewer systems, etc. I wasn't thinking of pensions back then, but that will obviously be a huge driver, too. People will relocate because they'll be able to save 50% on property taxes, and they will be happier eating than paying taxes. This setup of a city/county/state's structural costs being high and causing an exodus of citizens is no different than a country's cost structure being high and causing an exodus of jobs.

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