Here Comes The Next Crisis "Nobody Saw Coming" | Zero Hedge

Here Comes The Next Crisis "Nobody Saw Coming" | Zero Hedge

Strangely enough, every easily foreseeable financial crisis is presented in the mainstream media as one that "nobody saw coming." No doubt the crisis visible in these three charts will also fall into the "nobody saw it coming" category.

As noted earlier in the week, state and local taxes have soared 75%. While this would be no big deal if wages and salaries had risen by 75% in the same time frame, but earnings have barely kept pace with inflation (38% since 2000).

So state and local taxes have risen at a rate twice that of wages/salaries.State and local governments can keep raising taxes, but where's the money going to come from?

http://www.zerohedge.com/news/2015-08-07/here-comes-next-crisis-nobody-saw-coming