Eh bien Madame Lagarde, About Those Local Debts, They Too Are in Crisis

Haydn Shaughnessy
Forbes magazine


This is a major article posing the question of local indebtedness, from Germany to the US, to France.


"Germany’s 11,000-odd municipalities had a deficit of €7.7 billion last year, the second-highest ever…. in NRW( North Rhein Westphalia) local social spending rose by 274% between 1980 and 2006, whereas revenue went up only by 104%."

http://blogs.forbes.com/haydnshaughnessy/2011/06/28/eh-bien-madame-lagarde-about-those-local-debts-they-too-are-in-crisis/


MEANWHILE IN TEXAS.....
The mayor of Alto, Texas has warned people to 'bolt your doors' after laying off the entire police force due to lack of funds.