“Conservatives will, of course, be proven correct that Detroit will be only the first major city to seek a bail-out, but their objections will be fruitless. In fact, it is not only possible, but likely, that, once the concept of ‘No City Left Behind’ transforms public perception of a Detroit from municipal redundancy to humanitarian necessity, the door may be further opened, not only to other major cities, but to entire states. As Rahm Emanuel famously stated, ‘Never let a good crisis go to waste.’ Detroit may be used by the Federal government to establish the necessity to nationalise any crisis.”
https://www.internationalman.com/78-global-perspectives/974-solving-the-detroit-crisis
Related posts:
Bill Bonner: Is Bad News Good News for US Stocks?
Silver at $28.50: What I Will Do Now
Bill Bonner: Is QE Broken?
Ron Paul: House Chooses New Cold War With Russia
Which Countries Can The NSA Whistleblower Escape To?
Why John McCain Wants to Aid Lung-Eating Syrian Terrorists
"State Control": What the UN Firearms Treaty is All About
Public Justice Under Attack?
The best second passport for Edward Snowden…
The Will Of The People Doesn’t Mean Jack To Drug Warriors
Welcome to the Real World
Bill Bonner: Crony Connections…
Martyrs to the Cause: Carter Page and Julian Assange
DNA's Trap for Investors: A Race to the Bottom
Criminals do not need guns