TED Conversations

Robert Winner


This conversation is closed.

38 cities in the USA have filed for bankruptcy ... why

If we are recovering ... the economy is getting stronger ... less unemployment .... why have 38 US cities filed for bankruptcy .... why are many states on the verge of bankruptcy ... why are we the USA 17 trillion dollars in debit.?

The words do not match the facts ....

I am not an economist or a financial analyst ... what is the problem and what is the solution or is it to late.


Showing single comment thread. View the full conversation.

  • Dec 4 2013: The USA will be next! It has already begun. The first stages of default are already over and we are entering the second phase. How long do you think it will be before entire states declare bankruptcy? What happens when California or Texas declares bankruptcy? Several states have already filed papers to secede from the USA. The "United" states is no longer united, if you think so look closer at what is happening in DC. They are so busy dividing up and selling off America's assets they don't have time to legislate. They are selling our mineral rights to other countries, they are selling entire companies to other countries, they are selling our information to other countries, they are selling our technology to other countries, they are selling our land, water and air to other countries, they are selling our people to other countries. Is there anything in America that cannot be bought by some other country? Anyone with enough money can buy our constitution, bill of rights, legislators, white house and even the supreme court. Not only can it be done, it was already done a long time ago.
    • Dec 4 2013: Citizaens United etc.
    • thumb
      Dec 4 2013: Yes I have read that many states wish to secede ... that many California cities have filed and more are awaiting the outcome of Detroit court cases and then will proceed with Detroit as a precedence. The 28 states that told the feds that Obamacare would bankrupt them were told that the fed would buy up the loans and the states would belong to the federal government with no states rights.

      I read a article that said some states will not allow, by law, cities to declare bankruptcy. So the true state of the union is unknown there many be hundreds in deep doo doo.

      Obama was on TV a few minutes ago stating that income disparity is the problem and poses a threat to the American Dream. It is the fault of the obstructionist GOP. I would suggest that he, Nancy Polosi, and Warren Buffet both lead the way ... divest themselves of all their wealth .... talk is cheap. When I see all of the multi-millionaire Congressmen giving up all of their wealth I will be a believer.

      Now that it is re-election time for many who are serving in Congress we see democrats distancing themselves from the president and these policies in a attempt to keep their elitist jobs ... hope the voters see that.

      I think we can see the problems with simple math ... You cannot spend more than ya got.

      But the last part of the question is what can we do ... and is it to late?
      • Dec 4 2013: http://youtu.be/I2KR0bPa92M
        I made the above video in response to that very question, it's called "Fed. UP" at the end is some suggestions I believe would be a good first step. The problem is the problem has been around for a long time and has become a really bad habit for the entire world. The solution is simple "If you break it, you fix it"

        The real problem is surprisingly just as simple. All organizations unrealistically want and have adopted another policy that goes like this: "I break it and then get you to fix it by force if necessary" or it does not get fixed and the world turns into a galactic dump.
        You see the few at the top mostly the Rothschild's have over the course of hundreds of years set that policy for the whole world. It is only successful because we use their currency (banking systems, stock markets). With their currency they bribe and control Corporations and corporations control governments and governments control with force the people.

        There is a simple two part solution! 1) Adapt and change the policy to- "If you break it, you fix it" and 2) Move over to a time based currency ("timebanking" it is currently not taxable)

        Once you stop giving them all your money their slave system will collapse like a house of cards.
      • thumb
        Dec 5 2013: Bob, you write "and the states would belong to the federal government with no states rights." I have a feeling there is an error in whatever news source reported this.
        • thumb
          Dec 5 2013: The remark came from Attorney General Eric Holder ... I will find the article again .. Bob.
    • Timo X

      • 0
      Dec 4 2013: The USA cannot declare bankruptcy. A country can decide to default on its debts, but as a sovereign state it can not go bankrupt.
      • Dec 4 2013: minor detail... the results are the same. Poor choice of words.. TY Timo
        • Timo X

          • 0
          Dec 5 2013: If I read correctly, your argument over the secession of states, the philosophy of 'if you break it, fix it' and 'timebanking', has its foundation in the possible bankruptcy of the USA. If I were to make such a far-fetched and, honestly, rather outlandish argument, I would ensure that I'd have my basic facts straight.
      • Dec 5 2013: OK Timo I thanked you for the correction, I made the correction above and I will agree that possibility of the USA defaulting is both outlandish and seems far-fetched, however I am sure the citizens of any country that has already gone through this felt the same way before it actually happened. Just as before any of our major corporations like the entire auto industry, Fannie May, most of the banking system, all of the investment trusts also thought it outlandish and far-fetched that they would be begging the American people for a $700 Billion loan. Then to thank us they sat back and laughed as they gave themselves bonuses, promotions and Obama rewarded them with cabinet posts in the government. That's what I call outlandish!

        And to top it off BOA didn't even need the loan so they took the money and bought out Wells Fargo with CASH! Check those facts.....

Showing single comment thread. View the full conversation.