"The impact on daily living for the U.S. population could be severe.Our authors predict in addition to increased costs, states and cities will see their pension funds drained. The government will be forced to sell off infrastructure, including roads and transport, to private corporations. People will be increasingly charged for privatized utilities that were once regulated and subsidized. Commercial and private real estate will be worth less than half its current value. The negative equity that already plagues 25 percent of American homes will expand to include nearly all property owners. It will be difficult to borrow and impossible to sell real estate unless we accept massive losses. There will be block after block of empty stores and boarded-up houses. Foreclosures will be epidemic."
Some weighty thoughts.. tough decisions... can it - does it... get 'that bad'... and if there's a chance... when.
It was really not that long ago hardly anyone would have thought this kind of gamble was even in the realm of the possible.
