Tuesday, March 31, 2015

Margin Debt and our local government pursuing illusions

An illusion is a distortion of the senses...

Though illusions distort reality, they are generally shared by most people.

...an illusion describes a misinterpretation of a true sensation. 


Greensboro's City Council appears to be under the false impression that those currently seeking to profit from the allocation of some of everyone else's money, and debt payments to pay for borrowing on everyone else's municipal credit card for the same profiteers are going to succeed in a vacuum, blatantly ignoring the unsustainable aspects of the artificially created growth created by the world's central banks and governments since 2008. 
"A confidence trick (synonyms include confidence scheme, scam and stratagem) is an attempt to [persuade another to do or believe something, and to] defraud a person or group after first gaining their confidence, used in the classical sense of trust...

The perpetrator of a confidence trick (or "con trick") is often referred to as a confidence (or "con") man, con-artist, [defrauder, scammer, swindler, cheater] or a "grifter".

...A confidence trick is also known as a con game, a con, a scam, a grift, a hustle, a bunko (or bunco), a swindle, a flimflam, a gaffle or a bamboozle.  The intended victims are known as "marks", "suckers", or "gulls" (ie, gullible).

When accomplices are employed, they are known as shills, [plants, stooges and apologists]."

Wikipedia defines "Racket" as "a service that is fraudulently offered to solve a problem, such as for a problem that does not actually exist, that will not be put into effect, or that would not otherwise exist if the racket did not exist.

Conducting a racket is racketeering.

Particularly, the potential problem may be caused by the same party that offers to solve it, although that fact may be concealed, with the specific intent to engender continual patronage for this party..."
The 'parties' who have so far convinced Greensboro's City Council with the help of at least City Manager Jim Westmoreland, to raise water and sewer rates to pay for infrastructure down 421 for the benefit of some of the 'parties' personal profit, have sold City Council on the idea that the illusions the population has been provided by the federal government for the last six years will continue into the future unabated.

What it looks like to me behind the curtain, is a 'hustle' by private interests led by Jim Melvin to cash in on taxpaying 'suckers', via a group of bought and paid for politicians.

A very recent example is the former Jefferson-Pilot property in Sedgefield, which former mayor Robbie Perkins received $1 million of taxpayer financed water and sewer for so he could acquire a sales commission for the sale of the property, which never became a retirement home.

None other than David Hagan, who skimmed $586,000 from Greensboro's taxpayers with City Council's blessings, is marketing the now taxpayer subsidized property.

The Megasite deal looks eerily like Robbie's JP water and sewer deal, which was like the "9,000 acres" deal, which enriched Roy Carroll without public disclosure.

Most economic indicators are pointing to an economic contraction, which I believe will be as long or longer than the preceding illusion.

I believe the 'grifters' and their 'shills' on City Council don't give a shit, as long as the council members get reelected and Melvin's cronies make bank at everyone else's expense.