When the housing ATM shuts down, the credit cards are maxed out, and the jobs go away, the results won't be pretty.
That said, certain towns and cities in America needed an enema. Places where debt was perceived to equal wealth. Places where keeping up with or showing up the neighbors was more important than helping the neighbors. Places that frankly needed to be taught a lesson when it came to money and morals.
So, have at it. Where will the debt bomb be felt the most? And on the flipside, are there any places that didn't get caught up in the madness, and now will be just fine?
October 16, 2008
So, now that the debt-fueled lifestyle of Americans is over for the time being, what cities are going to take it on the chin the worst?
Posted by blogger at 10/16/2008