Puerto Rico – Greece In The Caribbean
Act Like Greece. End Up Like Greece. There is no other option,” García said, according to The New York Times. “I would love to have an easier option. This is not politics; this is math.” – Business Insider I have certain respect for Alejandro García Padilla. He has my prayers and condolences. He is the Governor of Puerto Rico and may | Read More »
Articles of Impeachment- Part 6: The Auto Bailout
In the late 1800s, several railroad companies because of bad management were on the verge of shutting down. Many railroad owners contemplated tearing up their tracks, melting them down and selling them for scrap metal. American bankruptcy law intervened and convinced the creditors that by accepting adjustments in the short term to obligations due they could recover more in the long term for their investments. | Read More »
The “Consider This!” Podcast, Episode 59: Exposing ObamaCare Navigators, and Bankrupting Another California City
The latest episode of the “Consider This!” podcast is out. Conservative commentary in 10 minutes or less. James O’Keefe’s Project Veritas has exposed corruption, fraud, and hypocrisy. The latest group to get in front of his all-seeing eye are the ObamaCare Navigators, those helpful folks who will get you through all the ins and outs of the ObamaCare exchanges, and get you the best price for your | Read More »
What The MSM Doesn’t Want You To Know About Detroit
The mainstream media, and even the financial media, have buried the real story concerning Detroit’s bankruptcy. Or rather, they’ve buried the other real story, besides the fact that the city has been run by Democrats since 1962. The real story is that Detroit was forced into bankruptcy before the many alternatives to this route were even considered – a route that may leave bondholders and | Read More »
Dear Kevyn Orr, Emergency Manager for Detroit
Dear Mr. Orr, You have an unprecedented opportunity before you. Even though the city of Detroit is billions of dollars in debt, as the emergency manager, you have a way to dispense with one particularly enormous financial burden which has contributed greatly to the city’s fiscal insolvency. You are reportedly at at odds with the unions over the total amount that union’s two pension system | Read More »
Terrible Side Effect of Detroit Bankruptcy: 50,000 Homeless Dogs
There are many sad stories coming out of Detroit in the wake of its bankruptcy. Entire neighborhoods abandoned, thousands without jobs, a city without services, it’s a depressing and deserted place, a shadow of the the once great Motor City it used to be. Today a story in Bloomberg shines some light on a terrible side effect of Detroit’s economic collapse that many are unaware | Read More »
The “Consider This!” Podcast, Episode 49: What the Detroit Bankruptcy Has To Say To Us
The latest episode of the “Consider This!” podcast is out. Conservative commentary in 10 minutes or less. Just one topic this time around. I tackle the Detroit bankruptcy and what is has to say about political policies in other cities, in the US, and, actually, any country around the world. Detroit, Michigan, formerly the auto-making capital of the US, if not the world, filed for chapter 9 | Read More »
Detroit, Europe and Krugman-defined optional austerity
Decreases in annual increases of big government budgets do not “austerity” measures make and are not the reason that the, rightly-named-by-Nobel-Prize-winning-economist Paul Krugman, economic Depression continues in most of Europe and the United States. President Richard Nixon actually didn’t say that “We are all Keynesians now” after taking the United States off the gold standard in 1971 and otherwise ensuring that Hubert Humphrey-Democrats got the | Read More »
, Barack Obama
, John Maynard Keynes
, Keystone XL
, Labor Unions
, National Debt
, New Deal
, Paul Krugman
, shovel-ready jobs
Detroit Goes Bust
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss Detroit’s bankruptcy filing, if the unions will take a harder hit than the bond owners and what kind of national precedence this bankruptcy may set.
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Detroit: A Progressive Utopia
I grew up in Detroit. I went to high school in what can be considered an ‘inner ring’ suburb, went to college at the University of Michigan nearby, and did my graduate work at Wayne State University downtown. After medical school, I came back and did residency outside of Detroit, and even finished my residency up in Flint, MI. My parents still live in the | Read More »
Detroit files for bankruptcy (with apologies to William Butler Yeats).
So. Detroit has filed for bankruptcy. Ahem. Deeper and deeper in its gathered regret The city cannot bear its crushing debt; Things fall apart; Blue Models cannot stand; Smith’s virtuous Fist is loosed upon the land, The bankruptcy is loosed, and everywhere The solvency of proud Detroit is drowned; The Left lacked all competence, while the Right Was kept away, per standard policy. Surely some | Read More »
Stockton, California Goes Belly Up
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Cate Long to talk about the bankruptcy of Stockton, California, the battle the city now faces with the state’s retirement system and the latest infrastructure spending by the Obama administration.
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Detroit and How Democracies Die
It’s easy to kick Detroit. The place just about roles over and begs for it. Now we learn that the City Henry Ford built is now eligible to be put under emergency management by Governor Rick Snyder. Michigan State Treasurer described the situation succinctly below.
“We believe there’s a financial emergency in the city and that there’s no plan in place to correct the situation … I do believe strongly Detroit is fixable,” he said.
I read this, nod in sad agreement and then think to myself that Detroit is just the symptom. Detroit is just the canary that died in the burning coal mine of American finance. Our country is going bankrupt and despite our heartfelt desire that this not happen, most of us are helping it occur. We are caught in what’s called a discursive dilemma. Gonzalo Lira gives us an explanation of how we made it to sequestration below.
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Cities Are Flickering Out Like Dead Light Bulbs
Imagine Bush was still president. Stockton CA files for bankruptcy. Mammoth Lakes files for bankruptcy. San Bernardino files for bankruptcy. Scranton cuts all city workers to minimum wage. All within a month. What would our papers look like. What would dominate the headlines? Isn’t it true that CNN would start a special airing at 10pm every week night called “American Crisis”? Well, that just happened, | Read More »
A Breitbart-Type Reward Offered
Recall that in March, 2010, when the Obamacare battle was raging, following a walk through a Tea Party rally outside the Capitol, black congressional leaders John Lewis and Emanuel Cleaver accused the Tea Party protesters there of spitting on them and calling them the “n-word.” Media outlets ran with it, but then Andrew Breitbart promised a $100,000 reward to the NAACP if anyone can show | Read More »