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Strategies & Market Trends : Currents of Currency

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To: The Wharf who wrote (149)7/11/2012 2:21:52 PM
From: The Wharf  Read Replies (1) of 594
 
The end of the age of consumption and the decreasing need for labor are intertwined, and we have just begun to come to grips with this.

Stockton Mammoth Lakes San Bernadino all Bk too much consumption too little cost savings. Next rigid controls reductions of wage increases and the Pension Fund managers go nuts as fewer products bought add up to less profit.

“Cities are running out of options,” Michael Sweet, a partner specializing in bankruptcy at the San Francisco office of law firm Fox Rothschild LLP, said yesterday in a telephone interview. “As they see pension contribution obligations and retiree health-care costs going through the roof, revenue is at best stable if not declining.”

washingtonpost.com
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