New Debt Crisis Striking RIGHT NOW! http://www.moneyandmarkets.com/new-debt-crisis-striking-right-now-42353?FIELD9=4 Point of No Return http://globaleconomicanalysis.blogspot.com/2011/01/point-of-no-return-fiscal-shell-games.html 100 US cities risk bankruptcy in 2011 http://www.youtube.com/watch?v=J5n9dfqDW8c
It just raises my perrenial questions; a)why are local Governments involved in investing (Govt shouldn't be a money making enterprise) b) If they must invest excess tax revenue, why don't they invest into their own community? eg, Assisting emerging enterprise, building infrastructure, developing land etc ?
Tell that to the NSW Government. http://www.dailytelegraph.com.au/ne...as-14-properties/story-e6frezt9-1111116083951 It's called Conflict of Interest and most governments, especially here in Oz are guilty as sin of it. Public positions are used to support the financial backers into elections and whilst in office institute policy in their favour, so that when you exit public office with a free pension for life, you have a top quality private sector job waiting at the end of it. I'm under no false illusion as to what politics is nowadays and whether it's America or Australia, it's really all the same.
If theres an excess then theyre taking too much. They should return it by reducing subsequent takings.
