It’s not the cities. It’s the whole friggin country that’s going bankrupt.
The cities cannot print money. If the country wasn’t printing money the country would already be bankrupt.
We are Bankrupt.
If countries stop taking our money just on the fact that we promise it’s good we are done for.
Right on, Bernanke keeps throwing money out there to keep the US above water.
Fed balance sheet has increased 85 billion a month for years. That's “B” for billion.
Someday, dah chickens are gonna come home to roost-ah.
Right now, artificially holding down interest rates is killing elderly retired folks, but if they do rise, even by one or two points, it will add billions to the national debt.
The Feds have placed this country between a rock and a hard place. If they cease monetizing our debt, interest rates will rise...killing the housing market and business expansion. If they continue pumping billions into the markets, organic economic growth remains stagnant, volatility in the markets continue, savings and spending slump....and American national debt continues to drown us.
The whole lot should be sent packing.
Chicago
Glendale CA has a very aggressive traffic police force that must raise a lot of money for them. By all the construction and street maintenance therein one would never otherwise know of this great crisis of the cities.