just returned from visiting family in south Florida. They are experiencing a collapse in real estate that, in some measures, is more severe than Detroit. What is troubling for the sunshine destinations is their economy seems to be premised mostly on people moving in. They don’t really make anything in south Florida and this time the troubles in the rust belt are so severe we are not providing the grist for their economy – people with U- Hauls.
Click to read his solution to get both economies humming again.
I find myself thinking more and more about this sad sorry mess that all of us are in and wonder how a paltry $30 billion settlement is going to ever make up for the destruction of our economy. It’s like Wall Street just blew a hole in the Federal Reserve and calmly walked away with our money and the public discussion is whether or not they should have to pay for repairs to the vault.