Rothschild said that, meaning there is no where to go but up.
The City of Stockton California got out of hand in the real estate boom, and built up way beyond any need of capacity, let alone reason. Cities build infrastructure not because it is needed, but because the process yields fantastic profits for contractors and so on.
The contractors are paid up front, and the taxpayers are on the hook. Bondholders are the mediators who front the money on the bond that the taxpayers will repay it. Lawyers run for office to put it all together and then make fantastic fees handling the lawsuits and "consulting."
At the same time, with all this money flowing through, the firefighters and cops require they get cut in on the swag, and the lawyers need their votes and support to get the bonds to pass. So the cities make promises to the cops and firefighters that the cops and firefighters know cannot possibly be fulfilled. The cops and firefighters expect that ultimately the taxpayers will fork over the money to fund their pensions, because, as you know, cops and firefighters are indispensable.
One of the most serious errors a person can make in life is to believe their own PR. Stockton is going bankrupt, which means the pensions are null and void. One day the Samurai in Japan were in control of the country. The next day they were struggling for a living. The Samurai believed their own PR.
Stockton is the first of the larger cities to go bad. Cops and firefighters will try to transfer to other cities, public services will degrade, and there will be on balance far less city interference in the life of the people.
What happens is the self-government that atrophied as pasrt of the damage done during the boom will re-emerge to make Stockton a far better place than it ever was.
So, if you plan to start a business, and you want inexpensive housing in a lovely area, chose Stockton, becuase as a city it is dying and the people who ruined it are fleeing.
Here are a couple of houses for sale.
http://www.trulia.com/property/3088243898-2203N-N-Hunter-St-Stockton-CA-95204
and http://www.trulia.com/property/photos/3079588055-1973-Middlefield-Ave-Stockton-CA-95204#item-1
Now Trulia helpfully tells you the serious crime report in each neighborhood. Prices are lower where crime is higher. it is a trade off, but people who are abandoned by the city learn to police themselves. Like unemployment, being a victim is largely voluntary. Pioneers rely on each other and see to their own security. You and yours can become swiss-like and be well trained and armed. California politicians have banned open carry in California, so you will be arrested if you carry a gun to protect yourself. Only cops can carry guns openly and when seconds matter, the police will be there in ten or fifteen minutes, assuming they can pull together enough back-up to form a perimeter to assure officer safety.
The ban is being challenged in court, but in the meantime, prices are lower because self-defense is banned, thus making Stockton less attractive in th measure you have no right to protect yourself. On the other hand, you can look at the fines for illegally carrying a gun, and calculate the cost/benefit of defending your life and the far lower costs of living in Stockton.
Feel free to forward this by email to three of your friends.
The City of Stockton California got out of hand in the real estate boom, and built up way beyond any need of capacity, let alone reason. Cities build infrastructure not because it is needed, but because the process yields fantastic profits for contractors and so on.
The contractors are paid up front, and the taxpayers are on the hook. Bondholders are the mediators who front the money on the bond that the taxpayers will repay it. Lawyers run for office to put it all together and then make fantastic fees handling the lawsuits and "consulting."
At the same time, with all this money flowing through, the firefighters and cops require they get cut in on the swag, and the lawyers need their votes and support to get the bonds to pass. So the cities make promises to the cops and firefighters that the cops and firefighters know cannot possibly be fulfilled. The cops and firefighters expect that ultimately the taxpayers will fork over the money to fund their pensions, because, as you know, cops and firefighters are indispensable.
One of the most serious errors a person can make in life is to believe their own PR. Stockton is going bankrupt, which means the pensions are null and void. One day the Samurai in Japan were in control of the country. The next day they were struggling for a living. The Samurai believed their own PR.
Stockton is the first of the larger cities to go bad. Cops and firefighters will try to transfer to other cities, public services will degrade, and there will be on balance far less city interference in the life of the people.
What happens is the self-government that atrophied as pasrt of the damage done during the boom will re-emerge to make Stockton a far better place than it ever was.
So, if you plan to start a business, and you want inexpensive housing in a lovely area, chose Stockton, becuase as a city it is dying and the people who ruined it are fleeing.
Here are a couple of houses for sale.
http://www.trulia.com/property/3088243898-2203N-N-Hunter-St-Stockton-CA-95204
and http://www.trulia.com/property/photos/3079588055-1973-Middlefield-Ave-Stockton-CA-95204#item-1
Now Trulia helpfully tells you the serious crime report in each neighborhood. Prices are lower where crime is higher. it is a trade off, but people who are abandoned by the city learn to police themselves. Like unemployment, being a victim is largely voluntary. Pioneers rely on each other and see to their own security. You and yours can become swiss-like and be well trained and armed. California politicians have banned open carry in California, so you will be arrested if you carry a gun to protect yourself. Only cops can carry guns openly and when seconds matter, the police will be there in ten or fifteen minutes, assuming they can pull together enough back-up to form a perimeter to assure officer safety.
The ban is being challenged in court, but in the meantime, prices are lower because self-defense is banned, thus making Stockton less attractive in th measure you have no right to protect yourself. On the other hand, you can look at the fines for illegally carrying a gun, and calculate the cost/benefit of defending your life and the far lower costs of living in Stockton.
Feel free to forward this by email to three of your friends.
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