[pepsionice]

Lets imagine this...a city the size of LA announces it can’t pay pension checks for firemen and cops. A president has to start calling in senators to arrange some kind of bailout...which most states will refuse because there’s no legal way to decrease the pension program of LA or any city in the state. Within seven days...things would start falling apart and city council folks would just pack up and leave the state for a week or two. That would invite chaos on the streets and things would go downhill from that point on.

Watch Greece over the next month....none of this is going to settle easily. But there is one clear point...Greek protesters have a history...they can’t sustain protests. Eventually...after eight to twelve weeks...it will start to ease up.

[wiggen]

I don’t think an American city would survive 12 weeks of that.

[ravenwolf]

and city council folks would just pack up and leave the state for a week or two. That would invite chaos on the streets and things would go downhill from that point on.

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Yes but if the city council wizards would have left for a week or two or for good and not have gave them that big pension that some one else pays for this would not happen in the first place.