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Robert Winner

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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.

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    Dec 5 2013: Detroit is the archetype:

    https://mail.google.com/mail/?source=navclient-ff&zx=1rjzf1qfs9xrb&shva=1#inbox/142c05f3a6906470

    O's comments are ironic as the true cause of the financial inequality is the money printing which hugely favors the rich as they are able to invest ahead of the inflation with cheap money.

    At this point it would seem there are only 2 real options one is revolution the second is secession. There is an outside chance that more people are becoming economically literate and will demand instead of acquiesce.
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      Dec 5 2013: Pat maybe it is just hopeful thinking ... but MSNBC, NBC, ABC, and the huffington Post have all had as of late articles that were anti Obama. They have posted failures of the past and not much hope for the future.

      This could be two things ... One: That they truly see ... or Two: They are gearing up for Hillary and undo the ties to the Obama failures ... mid term elections are coming could also be a player.

      Frankly I do not hold much hope that the general public will see the issues. The chances are much greater that the public will fall for the same "Free Stuff" BS that they have for the last two elections.

      Even if the people became economically literate the path to recovery would be brutal and long term. Ike did it on a small scale but this recovery would be gigantic.
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        Dec 7 2013: I still think economic literacy is the answer, the trite statement of education blah blah but it is true imo.

        Another factor that is more pragmatic is simply that the dollar is being devalued which means that those cheap Chinese goods are not going to be cheap anymore it also means that jobs are going to be coming back this way to some degree. Along with this will be a different culture and because the dollar will be harder to come by, saving will become more prevalent. China will become a more consumption oriented country. And because jobs will being leaving China they will also go to mexico which will alleviate the border problem.
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        Dec 7 2013: How is a war a municipal responsibility?
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        Dec 7 2013: Ok I get you, the funny thing is that the Federal government is supposed to be subordinate to the states. Except in the case of a war, sort of incentivices the Fed to start wars?
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        Dec 7 2013: " I don't think subordinate is the correct term."

        Sure it is, in context of the constitution. It is a question of where sovereignty belongs which is with the individual followed by the state and then the FED.

        The financial problems are caused by abuses at the federal level. Things like the Fed level education which controls the state funds, same with highways, all of it an egregious violation of the 10th ammendment.
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        Dec 8 2013: "well that is only your opinion and not based on the constitution as written"

        Section. 4.

        The United States shall guarantee to every State in this Union a Republican Form of Government,

        No it is not my opinion.

        I pledge allegiance to the Flag of the United States of America, and to the Republic for which it stands

        apparently you do not know what a republic is.

        The idea is that the FED is held in check and IS subordinate to the states, this is because the framers understood the problems with a centralized government.

        This means that the FED has no business in education, roads, energy, and a litany of other things it has NO business being involved in no matter the perfunctory reasons people use for doing so.
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        Dec 9 2013: I agree to disagree, it is just a Republic period. Any arbitrary additional "ideas" to the contrary are delusional, a delusion shared by many.

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