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Re: Hudson: Twilight of the Gods
But that's the point - the property taxation prevents that from happening quickly.
The problem is that once the FIRE cycle has gone through, the only way back is a massive writedown in asset values. And that's something almost nobody in power wants, thus it will fester until something happens that causes this to occur anyway, only in a much less organized and much uglier fashion.
Originally posted by Polish Silver
The problem is that once the FIRE cycle has gone through, the only way back is a massive writedown in asset values. And that's something almost nobody in power wants, thus it will fester until something happens that causes this to occur anyway, only in a much less organized and much uglier fashion.
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