Discussion in 'Economics' started by ElectricSavant, Jan 1, 2011.
No big ones as the Govt will somehow bail them out.
Agreed. No big ones. Or even medium-sized ones. The case of Birmingham in 2009 is the model. Creditors prefer the certainty of a negotiated loss to the uncertainly of a catastrophic belly-up.
However Orange County California was a big BK wasn't it?
miami, las vegas, new orleans, reno, st louis,
The US will declare bankruptcy and no more deficits to support a fat bureacracy taxpayers can't afford..cut in gov't depts..as 50% of the gov't bureacracy is useless and wastefull gov't is no longer supporting welfare millionaires..the end of the welfare state and corporate welfare.. ...and Ben gets fired from embezzling the countries money....and looting the treasury...The FED is dismantled to be fully audited and work for congress not wall street crooks.
The national debt has been concerned since 1989
20 years the debt has only grown...
the day of reckoning like greek and ireland...10--25-30 year bonds cannot be refinanced.....
and reality is greek, ireldand needs a bailout....who will bailout the US?
face reality..the day of reckoning...the plastic cars credit cards maxed on limit..the credit cards are maxed out. the taxpayers tapped out.
QUOTE]Quote from Larson:
If only it were that easy. US won't capitulate until capital markets force it to. When that will happen is up for debate. [/QUOTE]
Which Cities will go BK in 2011?
I doubt any will. The Fed will pick up the tab for mandates, they already did this once with stimuls money to prevent layoffs.
You don't have to cut any programs per se, just obfuscate. Make it impossible to administer.
Separate names with a comma.