Sunday, August 2, 2015

World Trade Volume

Asia-Europe container freight rates fell 22.8% last week
Remember what happened to local tax revenues after 2000 and 2007?

Both times the Federal Reserve and the US government stepped in with massive stimulus.

War and a real estate boom and another financial bubble.

After 2008, the rest of the world's Central Banks stepped in as well.

They are out of ammunition.

Roy Carroll bought another apartment complex last week, and paid what appears to be a ridiculous premium, with most likely a big chunk of borrowed money.

Our leaders think they can fill a performing arts center with 300 more seats than DPAC, miles from the highway, in a community with average incomes $20,000 lower than Raleigh Durham, with fewer people, next to the poorest part of town, in an area where African Americans gather after 10pm to go to clubs, down the street from two Black colleges, not far from a few homeless shelters.

Bubbles happen within mass delusion.

Our leadership is deluded with greed, and they own Greensboro's City Council, who control the purse strings to more than $280 million in the City's "rainy day" fund, which all the connected keep getting tastes of, in exchange for relatively inexpensive political support.