This Is How We Reach Our Detroit Destiny

According to, this time the conservatives are about to start a financial crisis: “The prevailing view: When Congress returns in September, sabers will be rattled and threats will be hurled. But then, as usual, Washington will grind out a crummy deal that keeps the federal lights on and avoids a disastrous default.” Not true this time: “The House GOP is hopelessly fractured on spending strategy. Senate Republicans who might otherwise broker a deal face primary challenges that Read more […]

Obamacare & Detroit: Ground Zero For Financial Sinkhole?

The Obama Administration has said the Federal Government isn’t going to bail out bankrupt Detroit. But thanks to Obamacare, they may already be committed to doing so. “The New York Times reported Monday that the city is proposing a plan aimed at reducing its $5.7 billion in outstanding retiree health costs. In short, they want to take those retirees too young to qualify for Medicare and send them into the ObamaCare insurance markets – which are scheduled to launch next year. Doing so would Read more […]

Judge Rules To End Debt Slavery For Stockton, CA

We finally have some great news for the financial future of all of us. As Mish reported yesterday, “Today a judge ruled that the city of Stockton California is indeed bankrupt and that the city acted in good faith. Creditors asked the judge to void the bankruptcy, saying the city could raise taxes instead.” Since people should pay their debts, some conservatives might complain about this situation. So let me explain why it is a wonderful decision. First, regarding debt in general, no one Read more […]