Amazing possibility: Plans being drawn up to let states declare bankruptcy

[iGas]

who would ever risk investing in muni bonds at just the mire mention of this?? Muni bonds finance nearly all municipality infrastructure projects. Many already are getting out of muni's. This will cause a panic and turn many communities into run down ghost towns.

That could be a good thing because many hawkish ATOTers might learn to work with their hands for a change, and have respect for the land.

 

[Jhhnn]

who would ever risk investing in muni bonds at just the mire mention of this?? Muni bonds finance nearly all municipality infrastructure projects. Many already are getting out of muni's. This will cause a panic and turn many communities into run down ghost towns.

Municipalities already have the ability to declare bankruptcy- not States.

 

[Zebo]

What do you mean by ability? Law is just a construct if you can't pay you can't pay and it's bankruptcy/default whatever term you want but people wont get paid, that's real.

 

[Dissipate]

Pretty much how it looks. Whole west is in same pickle. I used to think you were crazy advocated benevolent dictatorships/monarchy..maybe not so much anymore.

Dictatorship and monarchy? No way. I am opposed to all of those. My philosophy can be summed up fairly quickly. If you want something you have to either trade for it (barter), buy it, create it (with legitimately owned materials), or acquire it from an unowned source (e.g. long lost ocean treasure).

 

[iGas]

my bad, wrong thread

 

[PingSpike]

Pretty much how it looks. Whole west is in same pickle. I used to think you were crazy advocated benevolent dictatorships/monarchy..maybe not so much anymore.

Benevolent dictatorships are the most efficient and effective type of government! Although, people who rise to the level of dictator are generally not particularly benevolent as a requirement so....

That said, it is fairly easy to understand how Rome went from a Republic to Empire!

 

[PingSpike]

Municipalities already have the ability to declare bankruptcy- not States.

So transfer all state liabilities to the municipalities and have them go bankrupt.