Hatha Sunahara
19th January 2012, 03:43 PM
Not surprisingly, what is going on with local governments is what Mitt Romney did using Bain Capital to promote the neo-liberal agenda. That is, Privatize the gains, and socialize the losses. Transfer all the wealth into the hands of private owners, and all the liabilities remain the responsibility of the state, and an obligation of the people.
Here's a link to Walter Burien's site:
http://cafr1.com/transition.html
This explains it--but a bit obfuscated and ambiguous--not plain straightforward English. You need an IQ of 115 or more to get a grip on it, so it leaves out 2/3 of the population.
If it's so damn important Walter, why don't you explain it in plain language?
I expect some heavy elucidation by Palani on this.
My take on this is that local governments are mere shells to extract taxes from citizens without giving them anything of value in return.
Hatha
Here's a link to Walter Burien's site:
http://cafr1.com/transition.html
This explains it--but a bit obfuscated and ambiguous--not plain straightforward English. You need an IQ of 115 or more to get a grip on it, so it leaves out 2/3 of the population.
If it's so damn important Walter, why don't you explain it in plain language?
I expect some heavy elucidation by Palani on this.
My take on this is that local governments are mere shells to extract taxes from citizens without giving them anything of value in return.
Hatha