Friday, March 31, 2017

The Big Contraction - An Interview With James Howard Kunstler

This contraction has already occurred in many cities of the heartland — Detroit, St. Louis, Milwaukee, Cleveland, etc. In contrast, booming New York, Boston, San Francisco and Dallas are purely products of the financialization of economy, and disorder in the banking system will hit them very hard. The suburbs around these places are next to go. Their destiny is either slums, salvage, or ruins.

http://www.zerohedge.com/news/2017-03-31/big-contraction-interview-james-howard-kunstler

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