So the state is soon to be bankrupt.
Trump is apparently sending like 40 feds to Chicago to deal with all the nonsense there.
Are these events connected? How are these people preparing for the potential fallout of this Illinois BK.
What could possibly happen if Illinois becomes insolvent? Is the place in the process of being busted out mob style?
Would any of you buy Illinois debt?
This will be interesting.
Illinois
6 posts
• Page 1 of 1
Illinois
by Thogey » Sat Jul 01, 2017 5:42 pm
If I have the gift of prophesy, and know all mysteries and all knowledge, and if I have all faith, so as to move mountains but do not have love I am nothing. And if I give all my possessions to feed the poor, and if I surrender my body to be burned but do not have love it profits me nothing.
-
Thogey - Too Busy Posting to Hoard Anything Else
- Posts: 8505
- Joined: Sun Dec 06, 2009 3:00 pm
Re: Illinois
by 68Camaro » Sat Jul 01, 2017 6:24 pm
Nearly all of their problem is in Chicago. Most of the rest of the state is willing to dissolve and merge with the surrounding states!
In the game of Woke, the goal posts can be moved at any moment, the penalties will apply retroactively and claims of fairness will always lose out to the perpetual right to claim offense.... Bret Stephens
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
-
68Camaro - Too Busy Posting to Hoard Anything Else
- Posts: 8372
- Joined: Thu Dec 30, 2010 6:12 am
- Location: Disney World
Re: Illinois
by johnbrickner » Sat Jul 01, 2017 8:22 pm
I'd guess a bailout similar to what is happening to PR or however different because it is a state instead of a territory. I wouldn't be carrying any IL debt.
My question is what if the state or rest of the state dissolved and didn't merge?
My question is what if the state or rest of the state dissolved and didn't merge?
- johnbrickner
- Post Hoarder
- Posts: 2674
- Joined: Sat Jan 02, 2010 3:00 pm
- Location: Upstate NY
Re: Illinois
by IdahoCopper » Sun Jul 02, 2017 8:07 am
A state can't secede, but the rest of the states can kick one out.
Check your Constitution. "What isn't prohibited, is allowed," 10th Amend.
Check your Constitution. "What isn't prohibited, is allowed," 10th Amend.
- - - -
-
IdahoCopper - Post Hoarder
- Posts: 2361
- Joined: Sat Jan 16, 2010 3:00 pm
Re: Illinois
by Treetop » Tue Jul 04, 2017 1:48 pm
I have no idea. One thing that sticks out to me though is it isnt the only state with major debt issues. I spent a bit on this the other night. Based on debt per GSP (gross state product) there are several states worse off then illinois as of I think 2014. Can we dissolve 10-20 states? Seems doubtful. I cant imagine letting that many leave the US either. What would happen if all that debt and liabilities fell to the US gov? Like other issues we face, a solid number of states failing appears inevitable. So I guess we will find out.
- Treetop
- Super Post Hoarder
- Posts: 3860
- Joined: Wed Oct 13, 2010 2:50 am
Re: Illinois
by OneBiteAtATime » Wed Jul 05, 2017 11:26 am
Looks like they're just going to tax us some more. Illinois solution to everything. Honestly, I don't mind $1000 more a year in taxes if they start making their payments to the schools. Our local superintendent, who doesn't bluff, was suggesting that we may have to close doors this fall if the state doesn't start making its payments.
I know that the long term effect of tax hikes is more economic woes, but in the short term, it will be good to create a little stability, at least for a short while.
I know that the long term effect of tax hikes is more economic woes, but in the short term, it will be good to create a little stability, at least for a short while.
"pray like everything depends on God and prepare like everything depends on you." -shinnosuke
"It does not take a majority to prevail... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men."- Sam Adams
"Thanks to God that he gave me stubborness when I know I am right." - John Adams
"It does not take a majority to prevail... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men."- Sam Adams
"Thanks to God that he gave me stubborness when I know I am right." - John Adams
-
OneBiteAtATime - Post Hoarder
- Posts: 2097
- Joined: Wed Apr 20, 2011 6:32 pm
- Location: Tallahassee FL
6 posts
• Page 1 of 1
Return to Economic & Business News, Reports, and Predictions
Who is online
Users browsing this forum: No registered users and 7 guests