Americans spend a bit more as economy limps along
Paul Dales at Capital Economics said the economy is likely to remain in a slow-growth rut for several years. He said economic growth is likely to average around 2 percent for the rest of this year and through all of 2011 and 2012 as well. That's far below the rates needed to drive the 9.5 percent unemployment rate lower.
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If this forecast is borne out, it means a slow motion train wreck for Privatopia and the economy in general. In recent decades, the U.S. economy has come through relatively brief periods of high unemployment. But if it remains high over a prolonged period such as this, it begins to do structural damage. Many Americans will find they cannot afford to pay for both public and private local government.
1 comment:
They SHOULDN'T be obligated to pay for both either. Hopefully ensuing legislation will eliminate so many of the parasites preying upon homeowners burdened by HOA corporations.
If people really wanted HOAs, the HOA wouldn't need to rely upon involuntary memberships. I anticipate lots of empirical evidence (in addition to what is already out there) illustrating that HOAs do NOT preserve any value for the homeowner.
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