Posted on 07/26/2013 6:42:34 AM PDT by National Review
Like Detroit, things that can’t go on forever don’t.
By Charles Krauthammer
If there’s an iron rule in economics, it is Stein’s Law (named after Herb, former chairman of the Council of Economic Advisers): “If something cannot go on forever, it will stop.”
Detroit, for example, can no longer go on borrowing, spending, raising taxes, and dangerously cutting such essential services as street lighting and police protection. So it stops. It goes bust.
(Excerpt) Read more at nationalreview.com ...
Incorrect. You can kick the can down the road, but at some point the road ends up against a steam-roller.
You are the one who seems to have problems with English and understanding it. You seem to be the only one on this thread who DIDN'T understand the meaning of the statement. Face up to your frickin' mistakes for gosh sakes, stop acting like a liberal.
The bond lenders were stupid. The public employee unions were stupid. The voters were stupid. Name a big player in Detroit's bankruptcy that wasn't?
Probably the only "free enterprise" players who made out were the bond consultants, and that game is more fascism than free enterprise. California's experience with Arnold and his ties to Wall Street bond underwriters (as opposed to in-State underwriters) shows this amply. Using out-of-State underwriters COST the State a cool $250 million in lost tax revenue, never mind the economic impact. Oh, but Arnold OWED them for backing his gubernatorial run. I have little doubt that the same forces were involved in getting their share of the sacking of Detroit.
actually, no, there’s only like 6 on this thread, and 2 of us noticed the mistakes in the language. BTW, the person I questioned has not felt the need to chime in like an ass......but you and another have......I was not even being argumentative in my first inquiry.....simply asking a question. Sorry bout your menopause...
Only in post-modern civilization could a tautology be considered insightful.
Oh, so there are two other FReepers like you who can’t comprehend the written word. Too bad. You might take a reading comprehension class, it might(read that as will) help you, take the other two with you, they need it also.
I still don’t understand why Baraq and the Dems don’t bail out Motown.
Loyal constituents deserve their reward, and with the fedgov issuing fake money at an incredible rate, “what difference does it make” to issue some more?
Written word????? And I quote:
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
Corruption is not cleansed by a bankruptcy - only creditors are.
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