Why Many Cities Have No Money
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Why Many Cities Have No Money
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Re: Why Many Cities Have No Money
#2I don't even need to read the article to know that the real reason is not mentioned in there.
The real reason is the FIAT debt based money system. The criminal private enterprise called the FED. Thats the real reason, everything else is a distraction from the truth.
Re: Why Many Cities Have No Money
#3I don't even need to read the article to know that the real reason is not mentioned in there. The real reason is the FIAT debt based money system. The criminal private enterprise called the FED. Thats the real reason, everything else is a distraction from the truth.
I upvoted your comment after I read because I agree with you and the text goes in the opposite direction.
Re: Why Many Cities Have No Money
#4I don't even need to read the article to know that the real reason is not mentioned in there. The real reason is the FIAT debt based money system. The criminal private enterprise called the FED. Thats the real reason, everything else is a distraction from the truth.
Can you expand on this? I don't follow how fiat currency pertains to city budgets and the net cost/benefit of public infrastructure.
Re: Why Many Cities Have No Money
#5In the intro, it is stated that "literally five or less" cities do not have these monetary problems. I'm curious what those cities are, and why are they special. If the answer isn't "they've always used accrual accounting", I don't buy that most cities are doomed due to accounting problems.
Re: Why Many Cities Have No Money
#6In the intro, it is stated that "literally five or less" cities do not have these monetary problems. I'm curious what those cities are, and why are they special. If the answer isn't "they've always used accrual accounting", I don't buy that most cities are doomed due to accounting problems.
I don't know which the cities are, but I'd guess they're among the wealthiest ones. Maybe you'll find this useful: https://en.wikipedia.org/wiki/List_of_U.S._metropolitan_area...
Re: Why Many Cities Have No Money
#7I don't even need to read the article to know that the real reason is not mentioned in there. The real reason is the FIAT debt based money system. The criminal private enterprise called the FED. Thats the real reason, everything else is a distraction from the truth.
Can you recommend a book for me to read? I ask because I completely agree and I'd love to be more educated about the issue.
Re: Why Many Cities Have No Money
#8Summary: infrastructure costs to maintain spread out exurb style development end up being more than the incremental tax revenue, especially when you consider replacement costs and the potential for future higher borrowing costs.
Property developers (along with car dealerships) are by far the strongest advocacy groups in many areas. It's not totally surprising that they've managed to capture the local government and push them towards counterproductive development that ends up being a massive subsidy from the taxpayers.
Re: Why Many Cities Have No Money
#9In the intro, it is stated that "literally five or less" cities do not have these monetary problems. I'm curious what those cities are, and why are they special. If the answer isn't "they've always used accrual accounting", I don't buy that most cities are doomed due to accounting problems.
Spitballing here, but I assume once cities with large enough density, e.g. skyscrapers, reach past a certain threshold, the amount of revenue as a result of high density overtakes the cost of horizontal expansion. Highly concentrated cities, such as NYC/LA/Chicago, are examples of these.
Re: Why Many Cities Have No Money
#10I don't even need to read the article to know that the real reason is not mentioned in there. The real reason is the FIAT debt based money system. The criminal private enterprise called the FED. Thats the real reason, everything else is a distraction from the truth.
Can you recommend a book for me to read? I ask because I completely agree and I'd love to be more educated about the issue.
"What Has Government Done to Our Money?" by Rothbard
https://mises.org/library/what-has-government-done-our-money