IT’S ONLY THE BEGINNING

The MSM is blowing off the bankruptcy of Detroit (surprise, surprise). Any talk of Detroit is swept under the run, it’s a “one off”.

The only problem, of course, is it’s just the beginning. Cities, towns, entire states (like Illinois), even the Federal government is bankrupt. They’re all being kept alive by issuing debt. More debt (bonds), onto already massive piles of debt. None of it can ever be paid back. Public/private debt is more than $54 trillion.

In case you missed this article. Many big American cities are heading for a fall. Nobody wants to live in these cities any longer, but not everybody can move away from the crime. Most have been run by democrats for decades, and the same cycle that brought down Detroit will bring them all down sooner or later. Eventually they run out of other people’s money. Socialism simply doesn’t work, never has and never will.

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