Detroit

Illinois Is Losing 1 Resident Every 4.6 Minutes

Imagine the entire population of Peoria, Illinois’ seventh-largest city, all picking up and moving across state lines in one year, never to work, pay taxes or create jobs in Illinois again. That’s equivalent to what happened to Illinois over the past year...

Frontrunning: December 20

  • Trump wins Electoral College vote; a few electors break ranks (Reuters)
  • European Stocks Head for a One-Year High (BBG)
  • Japan's Central Bank Keeps Policy Unchanged, Upgrades Economic Outlook (BBG)
  • Russia and Turkey vow to keep detente on track after murder (FT)
  • The Political Implications of Events in Ankara and Berlin (BBG)

Are You "Living In A Death Spiral"? These 6 States Will Collapse During The Next Recession

Being on the hook is not going to be pretty when interest rates are raised back up, and debts come due. At a personal level, it will mean more stress and juggling to make ends meet. For the larger economy, it will mean cities and states unable to meet obligations or balance their budgets – ending in bankruptcy, and bailouts. Meanwhile, millions of people are relying on that money to keep coming in order to survive. Something is going to go very wrong.