[quote=FlyerInHi]
In San Diego, do we care if Detroit goes bankrupt and pensioners’ benefits are cut? That’s their problem to solve. Otherwise, why not federalize everything and get rid of state and local governments?[/quote]

Careful what you say, I think the next step will be the Fed buying state/city bonds (insert bailout moral hazard warning here), knowing full well they will never be paid back.

Anyway that’s my prediction.

(this kind of goes with the automation economy, IT doing well, everyone else not so much, that’s why you are seeing more and more people on disability, but I think I am getting off the subject sort of).