Taking Turns In The Shark Tank - The New York Fiscal Crisis of 1975
(Gov. Hugh Carey - a file cabinet full of painful decisions)
Hearing the news today of the impending fiscal crisis in New York and hearing the just released information that Los Angeles is a half-Billion dollars in the hole, not to mention the rest of California tipping over the brink, I'm reminded of the last time we had a City and State in Crisis. 1975 brought New York city on the edge of bankruptcy and an unwilling Ford administration offering little aid.
So, thirty five years have gone by and we're faced with pretty much the same situation, and in many ways worse. But in 1975 it was something new and the rest of the country wondered if it could happen where they lived.
The answer was, and is, a resounding yes.
So here is a hastily called address and press conference by then-Governor Hugh Carey of New York from October 13, 1975.
Gov. Hugh Carey: “There’s no comfort, no joy in what we’re doing. Because we’re going to the limits of what we can apply to the city in terms of economies and we’re being forced to set aside to some degree our hopes and aspirations for this city.”
Strange. I've been hearing a lot of those exact words lately. I suspect we'll be hearing a lot more of them in the coming days and weeks.
to legalize weed.
http://www.youtube.com/watch?v=zfiaC-2K1LM
the most famous front page headline in the NY Daily News' history -- FORD TO CITY: DROP DEAD.
The debt merchants got greedy and demanded more and more until everything went to hell and groups like the Nazis took over whole continents.
You can also expect little aid this time around even more so because the US is insolvent too. Worry not, they will bail out California via the printing press but in the end it will be blatantly obvious how insolvent the US is and the price will be far worse because it was bailed out.
Goodnight, Frau Blücher
http://www.youtube.com/watch?v=oMF54aF9Vjk&fe...
http://www.youtube.com/watch?v=8YF_xj71KpA&fe...
http://www.youtube.com/watch?v=CaG_yyKJnB4
http://www.youtube.com/watch?v=2GmVajkqLNU
http://www.youtube.com/watch?v=N1NZg2GJI5Y&fe...
Diabolus est Deus Inversus
the many Senators from certain states that thought New York should go to hell when the city sought federal help. They all seem to come from have nought states that existed on the largess of the federal government. The irony was painful.
Hasa Diga Eebowai
Ahh the happy memories of NYC in the mid seventies. They had let out all the crazies that were not deemed violent onto the streets because they could not afford to house them anymore. It sure added entertainment value to the sleaze, grime and crime of the city. Unless you lived there during that time you have no idea how crazy/awesome it was especially if you only know the NYC of today.
All the same old crew. They convinced America that outsourcing jobs was good for us. The economy would boom. The Big 3 auto makers started moving to Mexica and fought the unions. Wall Street howled for deregulation. Nothing changes the economic woes are caused because there are fewer people earning a living wage (the warehouse personnel in the company I work for got an 8 cent and hour increase, that is $3.20 a week you can't buy a six pack)the rich pay less and less tax and cry about what they do pay. They make jobs is the refrain, no they don't. Hiring people comes from doing more business. Put people to work, NAFTA proved that you can pay off politicians. Corporations bought out the government and we are left with huge debt, shitty education (being cut), lousy health coverage, graduates of college making minimum wage, a disaster in the Gulf, a trillion $ pissed away in the middle east in Democracy building (hope it is not like ours, they can't afford it), and the politicians and corporations and starting to wind up that old tune
"It's your fault you want too many social programs like Unemployment, Medicare, Welfare, etc." In can be fixed if you just let the rapists and murderers who run Wall Street invest your social security and Oh by the way you have to also provide welfare for the richest motherfuckers on the planet because they are the most incompetent group of ass blankets on the planet.
The one thing we absolutely, positively must not do is tax the rich at rates last seen under that commie, fascist Eisenhower back when life was so horrible in America.
days and weeks."
Try years.
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