Posted on 09/18/2013 5:30:22 AM PDT by Kaslin
“Investors better pick their municipal bonds carefully, because some major hits are on the way.”
After the GM debacle where Obama unilaterally broke 200 years of law and picked the Union as the winner, I’m astonished there IS a bond market.
Maybe there are a lot of institutional investors with an inside track, or at least think they do.
You and me both, my friend. And no one ever talks about it, ever.
“Maybe there are a lot of institutional investors with an inside track, or at least think they do. “
These institutional investors who think they have the inside track should talk to the unions who supported Obamacare thinking they’d be immune to it.
The can kicking is about to end.
The road is ending - in a dead end.
I await the rape of the productive sectors Nationally to pay for the total failures of liberal lunacy.
Its coming. Hide your wallets.
It won’t be to long until 401Ks are converted into “Patriot Bonds”.
Sounds like a great add on for directive 10-289.
> Ultimately, Chicago will play around with superficial remedies just like Central Falls, Detroit, and several cities in California (all of which succumbed to the inevitable).
In the meantime, Chicago will probably follow some other major cities into bankruptcy, such as Oakland and Los Angeles.
Hmmm....what common denominator do I see here? Oh yeah Im not allowed to speak the truth in a PC world (but they will allow all the lies you can muster if it excuses their irresponsible / corrupt actions)
I bet you dollars to donuts Kansas City is on the same path
I’m from Chicago. The city is definitely in a transition. On the plus side, despite what the media says, murders are down to the lowest level since the early 60s.
there really isn’t
the bonds are making zilch for people
Chicago, like Detroit will not change. They will go to bankruptcy kicking and screaming all the way, while the city denigrates further. Obama or his successor will bail them out and the cycle will continue.
My mom had a part time job for a number of years in Chicago, working at a Senior Center, administering a meals program. When she retired her pension checks were SIGNIFICANTLY larger then her pay had been when working. In addition to a health plan that was zero cost and payed 100% for prescription drugs.
You're definitely on to something here. I've thought all along that if someone (99.9% sure that this will be a liberal dem) proposed taking all of the retirement plans, 401Ks, etc., from the American people and in exchange everyone gets a $3-4,000 check each month when they retire that more than half the population would gladly go along with the scheme. Of the remaining 50% most would find that revolting or protesting would take too much effort and cut into their time watching X-Factor, Duck Dynasty, and so on. I'm surprised it hasn't happened yet as they could do it easier than they think!
and I am 99% sure just enough GOPers will cross over to make it pass. Maybe not the first time it comes up though
Move over Detroit....
Daley would win a primary, and the general, easily...but who wants to run to be the next,and LAST Captain of the Titanic..and have to battle the Democrats core constituencies, teachers, govt employees, welfare, etc to try and get any reforms through.
I think this means that the crisis in much worse than we think..and will blow up very soon.
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