Thursday, June 15, 2017

Illinois needs bankruptcy protection

Major government functions are shutting down, the news is grim. If they go the Puerto Rico route, then Congress is involved, and their schedule is crammed already.

California just lost a chunk of expected capital gains taxes from Silicon Valley due to the correction.  And consumer purchases down,  business being hit with gas and minimum wages. Look for ten municipalities to be in serious stress and two or three to go under.

The economy is likely doing a 1.5% growth this year, at maximum.

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