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Showing posts with label bankrupt cities and counties. Show all posts
Showing posts with label bankrupt cities and counties. Show all posts

Monday, November 7, 2011

Financial Collapse in Americans Cities, Counties and States

From the Yahoo! article titled: 9 American Cities and Counties Going Broke

Pension plans, rising prices, depleted population and therefore reduced tax base all contribute to the following cities going broke. Image the potential chaos when city and county pensioners, food bank recipients and city county employees are not paid.

Imagine if the city/county utilities fail because of lack of money....either to pay for fuel, maintenance, etc., or just fail because they cannot pay their workers. The aftermath of these local governments going broke may give us some insight to a larger U.S. collapse.

These are nine American cities or counties facing financial collapse:

1. Central Falls, RI
2. Pontiac, MI
3. Jefferson County, AL
4. Harrison, NJ
5. Detroit, MI
6. Salem, NJ
7. Riverdale, IL
8. Strafford County, NH
9. Camden, NJ

Not only is this happening with cities and counties, several states are near collapse.  2.2 million unemployed in California.  1 million of have been unemployed over one year.  Another 530,000 unemployed people have just exhausted their 3 years of unemployment benefits.  There are another 6 million Americans who are scheduled to lose federal unemployment benefits in 2012.  Almost one third of them (1.8 million) will be running out of these benefits in January 2012 alone. 

Illinois' is almost bankrupt.  The state had to borrow billions of dollars this year to pay for unfunded state pensions.   Business is leaving Illinois at about the same rate they are exiting California (5 viable businesses leaving every two weeks) due to unreasonable state regulations and anti-business taxation.   

Welfare rates in heretofore financially stable areas is increasing dramactically.  This is obvious due to the poor economy nationwide, dwindling employment opportunities, and changing demographics as there is a hidden exodus of people all over the country moving trying to find a sustainable way to live. 

Imagine what will happen to the already existing and currently expanding anti-capitalist demonstration being enacted across the country. Fueled to a large extent by liberal, leftist and union groups (sorry for being redundant) a hotter catalyst for these demonstrations, who currently only have a vague point, could be the
financial collapse of one or two middle to large sized population centers.

Some of these high population dense centers are going to cause follow on problems for outlying communities from any number of reasons: refugee traffic; collapsed logistics chains of supply from warehousing areas or supply distribution centers; utilities breakdown on water, electrical, consumer vehicle fuels or natural gas; and increased crime.

If you are near any of the nine population centers listed above you should be weighing the risks and possible threat streams. If you are near ANY population centers you should do the same.