Actual Real Money

Archive for the ‘Debt Ghettos’ Category

Interesting title huh?  I can’t take credit for the term Debt Ghetto it was coined by the brilliant Max Keiser from his Keiser report.  However the aftermath of Grecee’s austerity measures and debt overload fits the term debt ghetto to a T.  While Greece is in the spotlight right in our own backyard we have at least 25 states that fit the bill of a debt ghetto.

Two which come to mind is California and Las Vegas.  California who dosen’t have enough money to sustain them pass tomorrow and is constant need of debt restorations as they sell bonds and give out IOU’s to their state employees.  In Las Vegas real estate projects have been abandoned leaving lifeless structures partially finished.  The debt pushers the Banks which the world now receives their constant fixes from only prescribe more of their debt drugs.

This is just the beginning folks as Bank of America announces 30,000 lay offs and permanent unemployment.  In the near future we will hope for just 9%.  The debt Ghetto’s are on the rise as the municipalities in most states are well underfunded and will be needing a fix soon.  I mentioned 24 states in the U.S but that is not really accurate its close to 40 who don’t have sufficient funding.

As a child of the urban ghetto it was considered a stigma.  Now the stigma has become acceptable as even the most affluent areas in the United States are engrossed and only sustain by the debt drug. What makes things even sadder is the world looks to take more of the drug from the pushers who have caused the problem in the first place.

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