Municide Accelerates
Read JohnGaltFLA's take first, then read the NYT article.
Then note also Karl Denninger's article from 14 January.
You better check if you or your retirement funds are holding municipal or state bonds.
And be prepared for a bad outcome.
posted by Concerned American | 3:38 AM
2 Comments:
Got no investments anymore. It's very liberating.
Not that I expect to live to retire anyway, with my big libertarian mouth.
There will be more bailouts by the feds, and maybe they'll finally reach that 80% income tax rate they were drooling over in the '90s to pay for it (theoretically, at least).
ah, Detroit. I knew it was Detroit before I clicked on the picture.
For demographic reasons that it is politically incorrect to notice, Detroit has been dead since the 1967 riots. For those same reasons, this is the future of every medium-sized and major urban area in the US, very very soon. Philadelphia, Cleveland, St. Louis, New Orleans, Flint, and Gary are already there, and NYC, Boston, Chicago, and the San-Diego-to-San-Francisco megalopolis are will arrive there in the next ten years. And we have only ourselves to blame, because we've spent the last hundred and fifty years lying to ourselves about some very, very obvious facts. Naturam expellas furca, tamen usque recurret.
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