The Fed printed a lot of money, and the Obama Administration spread a lot of money around, and it didn't work.
Artificially imposed stability creates higher levels of instability.
Our local economy may take it on the chin, sooner than later.
Tax revenues should fall, so the rosy projections by Guilford County and Greensboro are too high.
All those new restaurants etc... are just taking business away from others, as there are about the same amount of people and relatively less disposable income, and it's going to get worse before better.
New home and commercial construction for a business to move from one side of town to another is a waste of money, especially if taxpayers are footing the bill.
Instead of being prepared, our elected leadership in Greensboro has made it worse by borrowing based on bogus projections (GPAC) and "site selection consultant" sales presentations.
We have had 6 years of fantasy land based passivity.
When local economies take a hit, it will be blamed on the current occupant's of political and business power.
In Greensboro's case, City Council, Roy Carroll, Downtown Greensboro Inc., Marty, Jim Melvin etc... get to take the blame for what's coming.
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| http://www.zerohedge.com/news/2015-03-10/recession-watch-wholesale-sales-plunge-worst-lehman |
