Sunday, October 28, 2007
“Well, I looked at my watch
I looked at my wrist
Punched myself in the face
With my fist
I took my potatoes
Down to be mashed
Then I made it over
To that million dollar bash
Ooh, baby, ooh-ee
Ooh, baby, ooh-ee
It’s that million dollar bash”.
Bob Dylan “Million Dollar Bash”
Every time I can remember, in the past 30 some years, the Voters of Denver have chosen, after being ceaselessly battered with millions of dollars worth of TV ads, print ads, and at least 11 expensive mailers to me and my “household”, to further burden ourselves with taxes, or give refunds away, for the enrichment of the banks and developers and, almost incidentally, to build us some cool stuff. These people have to earn a living too, but over ONE BILLION to the bankers and investors? On a half BILLION project. Yikes! Two for them and one for (some of) us. I feel like I’m taking my potatoes down to be mashed.
And wait! Just as a full-blown recession is blowing our way?
We like to think we’re different here in DEN, but this is going to be global, and there ain’t no easy way to avoid it. Already small pockets of homes here and there are going belly up in the loan scandal , strip malls are half filled with dollar or charity stores, giant banking cartels are trying to paper over the hemorrhaging paper, eggs are up 44% and milk 22%, and oh, by the way, remember what I said about heating costs? Expect a 33% increase there. And watch gasoline, harhar? Where’s my electric scooter?
Am I punching myself in the face with my fist yet?
To say nothing of the dollar falling like a stone whilst being pumped and humped like a blow-up doll at the rate of 20% per year. Ouch it, hurts when you do that! And that’s gentle compared to how other countries are pounding their doll(ar)s.
Imagine some of these Denver bond funded projects running wild. With a falling dollar, copper and commodities rising with Chinese price pressure, and the resulting cost of construction spiraling, will additional bonds be called for? or is that already built in?
And all with a falling and failing, over-assessed and foreclosed-upon, tax base. Cities, counties and countries can and do go bankrupt. The US did it in 1971 and we can do it again.
It may be the anticipated and planned way out for the manipulators.
Unfortunately, at our expense. There, that’s a good punch.
P.S. What ever supplies you lay in now, you’ll be saving money as the prices go up. And who knows, you may actually need the stuff you bought when the food and gasoline riots break out. You know, all kinda “Colorado What-If?”
Hey, I’m just sayin’…..
Bob Dylan – A Hard Rain
at 6:56 PM
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