[lbo-talk] Secret GOP plan: Push states to declare bankruptcy and smash unions

[Max Sawicky]

Comparisons of, say, Illinois (probably in the worst shape)
with Greece and Ireland are overdrawn.  The bigger risk is not to
bondholders but to state spending.

Though with financial markets anything is possible.

On Thu, Dec 9, 2010 at 1:35 PM, <dredmond at efn.org> wrote:


> On Wed, December 8, 2010 10:59 am, c b wrote:
>
> > Bankrupting the states would be a new quality to this crisis. Does the
> > ruling class really want to do that?
>
> They most certainly do.
>
> Our ruling elites are genuinely and terrifyingly suicidal. They are a
> bunch of crazed financial fundamentalists who would rather take down the
> entire US economy (which is all they can do -- the developmental states
> prevented a global crash) than give up the tiniest smidgeon of their
> Imperial privilege.
>
> -- DRR
>
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