An Inside View of America's Collapsing Cities

http://www.larouchepac.com -- Former Maywood mayor and city councilmember, Sergio Calderon, discusses Glass-Steagall and the crash tearing through the nation's cities.

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News & Politics

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• Maywood
• mayor
• city
• council
• member
• Sergio
• Calderon
• Glass
• Steagall
• crash
• nation
• cities
• budget
• economy
• collapse

[DEMCAD]

@hstone39 GAME OVER! This depression is unavoidable.

[tarossi400]

I understand that this towns police were massively corrupt and their inability to get insurance because of the number of claims they had to pay out was a huge factor in shutting this town down. These douchebags were trying to fill the cities bank account by stealing from the citizens and I just can't feel sorry for them.

[ripperduck]

Maywood/Bell are next to each other, and they use to be solid working class cities. The collapse of both began when steel mills, auto companies and the other blue collar industries which produced growth for these towns went overseas. The folks who are left are seeing the end of US production and the loss of any middle class life styles. Nothing else will take its place other than low wage service jobs. These cities will not survive as they have in the past. Good luck...

[curiousEGM]

@DEMCAD You have people losing their homes coupled by slowing home sales (all categories - exceptions are fake stats). You have got to see how quickly for sale/for lease signs are going up in NJ alone. Commerical RE space availablility is increasing at record speed. Who is going to occupy all these stores closing? Who? The more stores that close, the less jobs you have, the domino effect goes up. It is getting extremely dramatic in my neck of the woods. Soon, the effects will be evident.

[tetrahydroscope]

@sowiesosso well it will come to you as well

[azezel2311]

BP has over 100 trillion in assets. The strategic stockpile is how many thousands of tons and how many hundreds of thousands of tons of thorium is burried in the western states in a refined form? So there is no reason to run a debt based currency system.

[azezel2311]

@Zamolxx personally I think an uranium standard is the best way to go after all it is a waste product of the thorium extraction process and very valuable militarily and possibly for transportation to other planets as well as a fuel on its own.

[Zamolxx]

Money should be backed by a physical standard of economy, or production and its value needs to be fixed, not afloat to speculators. A gold referrenece would work under a new Bretton Woods, but you cannot have a 100% gold standard, that isn't viable.Money has no intrinsic value, it must not be trated as a commodity, but a liquid of suspension that keeps the wheels of the physical economy going.Also by having fixed currencies you have fixed nominal interest rates wich are key for a new Renaissance

[Zamolxx]

So you are trading corrupt people who run legitimate institutions, with corrupt people who run private business, real good choice dude. That's an other bullcrap axiomatic pseudoeconomy called austrian lunacy.

[Zamolxx]

The venus project is against nuclear energy and is inherently fraudulent, because the venus guys don't understand what money really is, it has no intrinsic value and money should be treated as such, not like a commodity. In order to save the world you need to put its international financial and monetary system through bankruptcy reorganization, by utilizing a Glass Stegall standard of banking alongside a new Bretton Woods.

[Zamolxx]

Last I checked the Inter Alpha group was a private international banking consortium, the fail of the american people perhaps, but then there's the failure of the european people who've been suckered into handing out their sovereignty to a superstate central bank that has a pro derivatives policy, anything that is pro derivatives is suicidal and genocidal.

[Zamolxx]

Oh this crisis is real, but not in the way it's presented. The worlds physical economy is in real danger and with it so is a large majority portion of the earth's population.