Flood victims lined up to get food & clothing fr. Red Cross relief station in front of a billboard. February 1937, Louisville, KY . Photo by Margaret Bourke-White
The fist years of a recession aren’t that bad for people who have jobs and means. The taxes haven’t risen yet and the city services are sill intact. The products become actually cheaper and the bubble generates enough optimism for the stock marker to pretend that nothing changed. And then the city services catch up and everyone starts to notice. LA Times – City retirements threaten a deep and lasting legacy:
Further reading:“Some policymakers have only begun grasping the magnitude of the exodus of librarians, building inspectors, traffic officers, city planners and other workers, many of them the city’s most experienced employees.”