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Monday, December 08, 2008

Shoreview's Idea of Living Within Its Means

About a month ago, the Shoreview Press contained a truly depressing article, which can be read in the archives here:
Since the author actually presented issuing $3.5 million in bonds as "living within our means," I felt duty bound to chasten the editor. My letter did not see the light of day, so I summarize here:

News flash: bonds are a form of debt. There is no way that issuing $3.5 million, or $100,000, or even $100 in bonds is living within the means of the city. I hate to be discouraging, folks, but when our city council members congratulate themselves on presciently managing the city by issuing $3.5 million in bonds, and the good citizens of Shoreview smile and nod, having just reelected this self-satisfied bunch of sages, things are in a bad way. For myself, I've largely withdrawn from the political enterprise, thinking it's time to put my energy where the return on investment is a little better than negative (insert your favorite large number here--bazillion or so sounds about right), like hoarding food, considering how we'll cook when there's no gas in the lines, and what we'll drink when there's no money to pay the folks who run the water system. I'm not kidding, either. I don't know how quickly it's coming, but I see HYPERINFLATION barreling down the tracks, and it's going to get here sooner or later. Spend your money now on things you can use later (it's too late to buy gold, if you want physical delivery), because the day is coming when it won't buy much at all. Welcome to America, the world's latest banana republic.


Blogger Right Hook said...

Your observations are right on. Multiply the problem by the thousands of communities across the country that are doing the same sort of thing and the situation indeed appears dire.

Elected officials willing to stand up against the madness are few and far between.

12/09/2008 8:16 AM  

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