Friday, September 02, 2016

The Sovereign Debt Crisis In America:
The Fall Of The Empire
Martin Armstrong highlights the state of Illinois & its challenges with debt & pensions .. points out how Illinois may be the first state to go bankrupt .. "The question is not if, but when. State unions are so greedy that they are destroying the very state. This is exactly how Rome fell — government employees against the people.Seven states have constitutional provisions that state employee pensions must come BEFORE everything, including debt payments. Since the legislature in New Jersey was Democrat, they fought Governor Christie on pension reform. Their solution? On the ballot in November, there will be a provision to amend the state Constitution to put employee pensions before everything else .. It’s time to just turnout the lights in Illinois. Welcome to the Sovereign Debt Crisis. This is the contagion you will finally start to hear about, but only after the elections. Why spoil the party?"
LINK HERE to the commentary

No comments: