Illinois Enters Its Death Spiral – The Next Downgrade Takes It To Junk, Which Is Pretty Much The End Of The Road.
by John Rubino When an entity needs to borrow ever-greater amounts of money to survive, the markets – that is, the people who are being asked to lend the money – eventually rebel. This rebellion takes the form of rising interest rates as lenders demand a higher return to compensate for the extra risk, and … Read more