TRAVELING THE WORLD, WRITING WHAT THE PEOPLE NEED TO KNOW.
TRAVELING THE WORLD, WRITING WHAT THE PEOPLE NEED TO KNOW.
For the first time in US history a handful of US states are teetering on the edge of bankruptcy. Illinois is about to be downgraded to junk bond status, which will turn its financial problems catastrophic overnight. Illinois cannot possibly pay its accumulated debt, its unpaid Medicaid expenses and its future retirement obligations, so bankruptcy Read More…
Puerto Rico — For the first time in American history, a territory claimed by the United States is filing for what is essentially bankruptcy. On Wednesday, the New York Times reported that Puerto Rico, which the U.S. appropriated following the Spanish-American War, has just claimed in a New York federal court filing that due to its Read More…