How Bankrupt American Cities Stay Alive – Debt [ST04]

Published on July 25, 2023

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For centuries, cities used to be built incrementally. Improving and building on successful places, and changing or abandoning unsuccessful places. This changed in America in the 1940s, when whole neighbourhoods were built on the edge of town, to a completed state. After several generations, many of these places are financially insolvent, but are propping themselves up with an ever-growing mountain of debt.

To donate to Strong Towns, visit: https://www.strongtowns.org/membership

Watch the rest of the Strong Towns series here:

Patreon: https://patreon.com/notjustbikes
Twitter: https://twitter.com/notjustbikes
Reddit: https://reddit.com/r/notjustbikes
One-time donations: https://notjustbikes.com/donate

NJB Live (my bicycle livestream channel):
https://www.youtube.com/channel/UC9v57F4xz46KaDsvWfCv8yw

Sources and Image Credits

Thumnail photo:
Suburban Sprawl, Vegas Style

This video is based on the work of Strong Towns, especially the “Growth Ponzi Scheme”:
https://www.strongtowns.org/journal/2020/8/28/the-growth-ponzi-scheme-a-crash-course
https://www.strongtowns.org/journal/2011/6/13/the-growth-ponzi-scheme-part-1.html
https://www.strongtowns.org/journal/2011/6/14/the-growth-ponzi-scheme-part-2.html
https://www.strongtowns.org/journal/2011/6/15/the-growth-ponzi-scheme-part-3.html
https://www.strongtowns.org/journal/2011/6/16/the-growth-ponzi-scheme-part-4.html

Aerial view of the Napa River where it divides Vallejo, California
By Dicklyon – Own work, CC BY-SA 4.0,
https://commons.wikimedia.org/w/index.php?curid=69952050

Historical compilation of photos from Brainerd, MN
Downtown Brainerd, then and now:
http://www.crowwinghistory.org/brainerd_downtown_buildings.html

Penny Postcards from Minnesota
http://www.usgwarchives.net/mn/crowwing/postcards/ppcs-crow.html

$3.2 Billion to Fix Tampa’s Aging Pipes? From Where?
https://www.strongtowns.org/journal/2019/8/30/32-billion-to-fix-tampas-aging-pipes-from-where

The land of the FREE [Backus, MN]
https://www.strongtowns.org/journal/2010/2/17/the-land-of-the-free.html

Transactions of Decline, Lowry Edition
https://www.strongtowns.org/journal/2010/4/20/transactions-of-decline-lowry-edition.html

We Need Growth. But Only If It Generates Real Wealth.
https://www.strongtowns.org/journal/2019/10/9/we-need-growth-but-only-if-it-generates-real-wealth

Branch Closings and Budget Cuts Threaten Libraries Nationwide

Branch Closings and Budget Cuts Threaten Libraries Nationwide

We Can’t Afford To Keep The Streetlights On
https://www.businessinsider.com/we-cant-afford-to-keep-the-streetlights-on-2009-8

Cost of deferred maintenance for U.S. infrastructure tops $1 trillion, new report finds

Cost of deferred maintenance for U.S. infrastructure tops $1 trillion, new report finds

U.S. and UK on brink of debt disaster
http://blogs.reuters.com/great-debate/2009/01/20/us-and-uk-on-brink-of-debt-disaster/

Mortgage Debt Outstanding, All holders
Federal Reserve Bank of St. Louis
https://fred.stlouisfed.org/series/MDOAH

Chapters

0:00 Intro
0:05 Strong Towns
0:14 Why isn’t suburbia bankrupt?
1:12 Traditional incremental development
3:13 Growth and financing through debt
4:54 Why increasing taxes isn’t enough
6:44 Successful cities need successful services
7:41 Growing cities with debt
9:32 Conclusion
10:29 Patreon shout-out
10:39 Outro

#StrongTowns #MunicipalDebt

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Handling Cash – Leave Financial Obligation And Construct A Savings Account

It can take 3 to 6 months before you have your budget plan down. The outright finest thing you can do to handle your Revolving Debt is to cut all of your charge cards in half. We need not fret about this debt.

Waking in financial obligation is not something that any person desires. Owning money to companies that won’t stop hassling you with call at all hours of the day is enough to make anybody tear their hair out. However as a debtor, you have a lot of alternatives to tackle abolishing your debt permanently. You’ve most likely seen all of the ads and websites online that will tell you they can clean your financial obligation tidy for simply a couple of pennies. While these websites exaggerate exceedingly, there are methods you can bring your rate of interest down and make your debt more manageable.

So we understand that having unSecured Debt is not such a bad thing when compared to Secured Debt, but how do we set about reducing eliminating it. Well, the single most efficient technique is through financial obligation settlement.

I know you might be believing, “What does he mean by ‘advantage’, my debt is killing me”. Well the word excellent is probably not the finest word however let me discuss. If all your financial obligation were protected (by security) your creditors could easily recover the quantities owed by claiming these items of security.

They might think that being Debt Free is impossible which is a misconception and not true. Anyone can become Debt Free with a strategy and proper guidance.

When you close an old line of credit, it is comprehended that you might not handle it effectively and your credit rating will take a hit. Secondly, you may have skipped repayment on a particular charge card account or you may have built up Revolving Debt on an account.

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There are many factors to consider and much research study that requires to be done prior to leaping off of the cliff. After all, that’s what got you into financial obligation in the first place isn’t it?

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