Comments on: UPDATED: Deadbeat States https://barelyablog.com/deadbeat-states/ by ilana mercer Wed, 02 Apr 2025 19:29:09 +0000 hourly 1 By: irongalt https://barelyablog.com/deadbeat-states/comment-page-1/#comment-17236 Tue, 21 Dec 2010 13:04:40 +0000 http://barelyablog.com/?p=32576#comment-17236 “I sincerely hope you are not invested in municipal bonds. The “$3 trillion municipal bond market, where state and local governments go to finance their schools, highways, and other projects,” is about to come crashing down.” – Quite so: municipal bonds amount to giving a thief a loan expecting him to pay it back. The feds will probably cook up a GM-style bailout: basically tell the state’s creditors to take a hike without any payment.

Things are going to collapse…productive private industry in the US is simply not large enough to support the dead weights.

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