What Happens When A City Goes Bankrupt?

Good interview with Laurie Davies, the Mayor of Laguna Niguel in California. She was asked what are the signs of a city getting close to bankruptcy. She then spends time discussing the process the city will go through when paring back spending.

So, the question becomes: What have you noticed your city doing?

It Takes 3 Weeks to Escape Illinois. That's how long it takes to get a U-Haul

So, the Great Escape has begun.  

Why 3 weeks? That's how long it takes to reserve a one-way U-Haul outbound.

"Everyone is leaving. No one is coming," a U-Haul agent told us a few weeks ago.

 As if it wasn't bad enough in Chicago.  But we all know why Illinois is doing this.

PENSIONS.  They CAN NOT pay for the pensions.  They need to makes things so bad, so unbearable, they can finally declare bankruptcy after their tax base (aka residences of Ill) do what this family are doing: LEAVE.

I am pleased to report we loaded our U-Haul rental yesterday and I am on the road driving to our new home in Utah. 

Right now we are just a few hours  into the trip, but we have crossed the state line and are now in Iowa.

Goodbye Illinois

On February 12, Wirepoints noted If the wealthy flee, ordinary Illinoisans will be left holding the progressive tax bag. 

Yep, and we have had enough. 

We were paying about $15,000 a year in property taxes on a home now worth about $380,000 or so. We have a beautiful 1 acre lot, surrounded by 30 white or and burr oak trees 100-200 years old. 

But property values are sinking. We will sell the house for a lot less than we paid for it 20 years ago.

Property taxes are a killer and taxes in general are going to rise in Illinois. 

 

GET READY FOR CIVIL WAR: CALIFORNIA

I've been trying to figure out where the coming Fake Civil War was going to come from.  And I determined it would be California.

I say Fake because it won't be a true uprising from US Citizens.  It will be from entrenched illegal immigrants.  It will be more of a takeover, led by the CA governor himself.