Our Politicians Are Selling Off Pieces Of America To Foreign Investors – And Goldman Sachs Is Helping Them Do It

All over the United States, politicians are selling off key pieces of infrastructure to foreign investors and big Wall Street banks like Goldman Sachs are helping them do it.  State and local governments across the country that are drowning in debt and that are desperate for cash are increasingly turning to the “privatization” of public assets as the solution to their problems.  Pieces of infrastructure that taxpayers have already paid for such as highways, water treatment plants, libraries, parking meters, airports and power plants are being auctioned off to the highest bidder.  Most of the time what happens is that the state or local government receives a huge lump sum of cash up front for a long-term lease (usually 75 years or longer) and the foreign investors come in and soak as much revenue out of the piece of infrastructure that they possibly can.  The losers in these deals are almost always the taxpayers.  Pieces of America are literally being auctioned off just to help state and local governments minimize their debt problems for a year or two, but the consequences of these deals will be felt for decades. (Read More...)

Debt Management: Is There Any Hope For America’s Debt Problem?

Wouldn’t it be nice if our politicians in Washington D.C. simply decided that we are not going to spend more money then we bring in?  That would just seem to be common sense.  After all, what do most of those big time debt management seminars teach?  Most of the time they tell families with debt problems that the very first thing that they need to do is to stop spending so much darn money.  Well, with the U.S. government things are just not that simple.  In fact, even the most “crazy” budget proposals floating around Congress right now would not balance the federal budget until 20 years from now.  The truth is that there does not seem to be much hope for America’s debt problem.  In fact, it appears to be inevitable that it will continue to get worse long into the future. (Read More...)

Do NOT follow this link or you will be banned from the site!