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Societal bankruptcy: Part 2, the rise of disorder

11 December, 2012 (09:35) | Bankruptcy, Economics, Euro, Global news, Greece, Sovereign bankruptcy, Speculation |

By:David A. Smith   [Continued from yesterday’s Part 1.]   Yesterday’s post on the societal collapse of Greece, under forced austerity to preserve its connection to the euro currency, as shown in this Associated Press (November 1, 2012) story, demonstrated that the established institutions by which citizens judge their government – hospitals, courts, public services […]

Societal bankruptcy: Part 1, the fall of order

10 December, 2012 (14:32) | Bankruptcy, Economics, Euro, Global news, Greece, Sovereign bankruptcy, Speculation |

By:David A. Smith   Regimes that do not end because of war end because of money: either there is too much (hyperinflation) or there is none – and that, to judge by this Associated Press (November 1, 2012) portrait, is Greece, a society on the verge of collapse:   Greek doctors who occupied a hospital: […]

Innumeracy precedes insolvency: Part 4, those who obstruct, expire

7 December, 2012 (10:05) | Bankruptcy, California, CalPERS, Cities, Local issues, Proposition 13, Public employee unions, Real estate taxes, San Bernardino, Subprime |

By:David A. Smith   [Continued from yesterday’s Part 3 and the preceding Part 1 and Part 2.]   Now, after three parts, we come to the piece’s true villain, as the material already presented from an extensive story in Reuters (November 13, 2012) has established that elected innumeracy led to public-employee overpayment, which led to […]

Innumeracy precedes insolvency: Part 3, those who obfuscate, obstruct

6 December, 2012 (09:30) | Bankruptcy, California, CalPERS, Cities, Local issues, Proposition 13, Public employee unions, Real estate taxes, San Bernardino, Subprime |

By:David A. Smith   [Continued from yesterday’s Part 2 and the preceding Part 1.]   As we saw in yesterday’s Part 2, based on a clinical Reuters (November 13, 2012) story, if the only consequence of grossly over-benefiting the public employees of San Bernardino were to overpay them, then it would be excessive and nothing […]

Innumeracy precedes insolvency: Part 2, those who overspend, obfuscate

5 December, 2012 (09:30) | Bankruptcy, California, CalPERS, Cities, Local issues, Proposition 13, Public employee unions, Real estate taxes, San Bernardino, Subprime |

By:David A. Smith   [Continued from yesterday’s Part 1.]   Yesterday’s post on the San Bernardino bankruptcy filing, using a thorough Reuters (November 13, 2012) story as source material, had reached the finding that innumeracy always precedes insolvency … and platforms us to dive deeply into the deceitful cabal (elected officials, public employee unions, and […]