First, our Austrian economist buddy, Lew Rockwell, talks about the fact that Detroit is simply the first of many. Think about that game played in our favorite parks, called: dominoes (forget the pizza chain ... they're solvent). Unfortunately, Chicago and Baltimore are not, and that's the rub. Ms. Whitney will eventually be vindicated, despite an unfortunate timing error.
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Great discussions on Detroit and government pensions, spending, etc.
