“Motor City,” USA is in trouble. Detroit, straddled with close to $20.0 billion in debt, simply could not move forward and was forced to declare bankruptcy late last week—the largest bankruptcy in U.S. municipal history.
The news was not ... Read More
This article Detroit the Beginning of a Trend in Municipal Debt? originally published at Investment Contrarians by George Leong
By: George Leong
Posted: July 24, 2013, 3:51 pm
We believe the stock market and the economy have been propped up since 2009 by artificially low interest rates, never-ending government borrowing and an unprecedented expansion of our money supply....