Why all US pensioners should fear Stockton crisis
While working as a city bureaucrat might not have many perks, it's always had one guarantee: a nice pension.
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#1 Apr 2, 2013
Ya I can garuntee you they will rob all taxpayers blind the civil war is coming soon I hope
#2 Apr 2, 2013
If the pensioners prevail I would say Stockton will have about as much luck selling any more bonds or borrowing money as Washington DC politicians have of getting a 99% approval rating from the public.
Scr*w the bond holders and watch you fund sources dry up overnight and what little you can borrow will be at double digit interest rates.
Just ask Greece about how that works.
The pensioners will just move elsewhere and take their money with them.
Since: Feb 13
Mandaluyong City, Philippines
#3 Apr 19, 2013
Yes, having a pension get makes you feel secure about the future.
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