[LINK] selling the furniture-- in Detroit

[Jan Whitaker]

Ever wonder what happens when a city declares bankruptcy? Check this out.
http://www.theage.com.au/world/debt-threat-to-detroits-art-collection-forces-city-to-get-creative-20131227-hv6yf.html

Here, we have successive conservative (sic) governments selling off 
public assets to balance the books. Kennett did it. Howard did it. 
Various other states have done it in the form of their utility 
companies. Abbott is about to do it with Medibank Private.

Note the line in the article: it's no solution. It just delays the inevitable.

This ties in with Frank's missive about the down side of current 
society. The return on the early infrastructure investments are no 
longer coming in. The capital was sold out.

Not sure where this is heading, but it ain't going to be pretty. Just 
ask the people living in Detroit (or maybe Geelong.....).

Jan


Melbourne, Victoria, Australia
jwhit at janwhitaker.com

Sooner or later, I hate to break it to you, you're gonna die, so how 
do you fill in the space between here and there? It's yours. Seize your space.
~Margaret Atwood, writer

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