Let me point out: The bond buying for the past 3 1/2 years tot he tune of $ 3.5 Trillion USD under Ban Bernanke will came back to haunt us all...Furthermore, he forced many of the foreign central banks to join in...So, his fable and failure will be judged by historians as a major flounder to bankrupt the global economy!! The rising interest in US has already raised the fear that another Housing Bubble is on the horizon...For many the households with re-scheduled mortgages under Bernanke's are filing bankruptcy again!!! They are many not just a few!!!
The Food Stamps is of no help; To raise the minimal wages from Washington DC to all places in US plus the controversial Obama Care can be equate to the speed up of an incoming dark ages with an end result of Part timers all over the land..
Detroit Bankruptcy is only the beginning...Soon, we shall see more filings from the large cities in America!
I have my views pertaining to this Issue of importance...But, I will wait for the Smart Mind like JL to announce HIS first...For one thing I am not paid to advance this...Since he is so smart, he can have the podium all by himself!! It is also the time for his buddy David Cheever to come forward and show How good he really is once for all!!!