can anyone pill me on why we should not let states declare bankruptcy i think it would be Fun and institutionally salutary
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If New York State declared bankruptcy would you want your state's Senators to vote Yes on a bailout non-americans please sit this one out its short :o)
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badly written prompt should be "If the alternative were bankruptcy would you want . . ."
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interested in seeing the a survey of people who legitimately feel this way on how they feel about bank bailouts
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Letting the country declare bankruptcy, deepening the depression, and undermine the whole federal system to own the New Yorkers amirite folks
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You understand you can’t run from depressions and recessions forever, right? They are literally the economy adjusting to reality after riding bad information and bubbles. Eventually, they come. Better on your terms than not.
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This doesn't exactly seem like a great time for this kind of game of chicken. If monetary catastrophe derails New York, it's not only going to kill a lot of New Yorkers it will also make the pandemic harder to contain nationally.
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Unfortunately it’s exactly the time for it. Ohio taxpayers should not be held hostage to pay for New York’s pension excesses.
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Not clear to me why a state should borrow at rates reflecting their expected likelihood of repayment in an unanticipated crisis. Even if it was business as usual, they should just be bailed out because they're state entities and can't shutter operations in a bankruptcy.
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I like how you come around to seeing the €Z as the superior currency union. Welcome to the club

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And for posterity: yes I’m being facetious here (to significant degree at least)
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