The Growth Ponzi Scheme

Re:The Growth Ponzi Scheme by roenxi on Sunday July 04, 2021 @07:49AM (#27728977)

That isn't a realistic failure mode; nowhere is going to spend their way into bankruptcy on infrastructure. A rational if cynical actor would go for handouts to political supporters at the last minute - if you're hurtling into bankruptcy, go out with a bang!

Realistically the mode is catastrophic failures on infrastructure. One might imagine a town descending into a public health emergency due to lead in the waterways for example. Or near collapses of major dams.

Now I have no idea if things like Flint or Oroville have anything to do with the sort of issues Strong Towns identifies. Hopefully they are just localised incompetence. But if Strong Towns is pointing at a real thing then the symptoms would look like that.

[ Parent | on HN ]

Re:The Growth Ponzi Scheme by MereInterest on Sunday July 04, 2021 @08:57AM (#27729288)

Flint in particular was incompetence at the state level, not local. Michigan passed a law saying that any bankrupt township can be run by an "emergency manager" who gets all local executive power. The mayor or city council no longer have any effective authority, nor do any other locally elected officials. It was the emergency manager for Flint who decided to switch water suppliers to reduce cost, and who decided not to use the chemical processing necessary for the new water supply to be compatible with the existing pipes. This was effectively a decision made at the state level that caused the Flint water crisis.

[ Parent | on HN ]

Re:The Growth Ponzi Scheme by LargoLasskhyfv on Sunday July 04, 2021 @11:16PM (#27734346)

Meanwhile...

[1] https://duckduckgo.com/?t=ffab&q=thousands+of+more+towns+lik...

[ Parent | on HN ]