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RE: RED ALERT ECONOMIC COLLAPSE UPDATE
@sgtreport As troubling as this is, the notion of a state being "too big to fail" is what I fear even more. People make a choice to live in a state. If those people have dependents, they are responsible for making the choice that is in the best interest of those they care for. Sometimes, that means packing up and moving to another state.
Same goes for corporations. I hate how some household brands bail out corrupt local and state governments. Shareholder activism in that regard should reinforce that if the state is going under, then the company better ready to move!
So many people in this nation RIGHT NOW have no idea what's coming. People in California and New Jersey, take note of what's about to happen to the pensions of the teachers, police, firefighters and state gov't employees in Illinois...
So the social cost of having to support those who thought they were safe in their gov't-provided next egg is going to quickly become a national issue. Then the narrative will be that we need to "pay back" the debt to these social servants who have been the backbone of government operations. This will make anyone who disagrees "terrible people", when it just masks the fact that taking on these social costs only bails out the bad behavior of politicians and businesses that created the ecosystem for these failures to take place.
I couldn't agree with you more!