Why do they suffer the forced migration, poverty and crime. Because they operate under the assumption that governments do not default. But Illinois defaulted years back, they have a mountain of unpaid bills earning penalties, these are not pensions. The back due bills are unpayable, Illinois would have done themselves a big favor by defaulting years ago rather than cause the suffering.
Who is most to blame? The MIT crew from the 70s who told us this time was different, governments don't default. It was fraud, government purchased fraud.
No comments:
Post a Comment