.
Anybody can go bankrupt, but to obtain the protection of a Fed Bankruptcy Court, you have to have a statute — which Illinois does not have — and a plan of reorganization in which the numbers work and can be ratified by the creditors.

You hit the nail on the head — Illinois has enormous unfunded pension liabilities. The only solution is to cut them back with a chainsaw. There is nothing positive about bankruptcy.

Illinois and Chicago are headed for a disaster.

The smart money is leaving the state and has been for a few years.

JLM
http://www.themusingsofthebigredcar.com

On vacation this ski week in Tahoe so forced to thumbtype on a phone over a beer. So, a couple questions regarding Illinois even being able to declare bankruptcy in the end. Ohio declared bankruptcy in the 1800’s but that was before the U.S. had a unified currency. As desirable to decades of failed Illinois politians to a Fed Bankruptcy Judddge just take a meat axe to Illinois liabilities aka 140 Billion in unfunded pension liabilities promised by said politicos, is it even legal or possible for Illinois to declare bankruptcy?!
And 2). Did the Chinese buy Chicago and it’s corruption politians for 140 $Billion while I was on Vacation and just solve this problem ?

Yes, get what you are saying too.

It would basically reduce the strategic importance of the peninsula if the Chinese had near de facto control of the north.

.
They also receive enormous welfare payments. There is no reason for them to leave.

BRC
http://www.themusingsofthebigredcar.com

I agree: I doubt he will much change what he does with Twitter. Why? His use of Twitter works really well for him!!!

He tells us he is rich each time Melania steps out in public! Her clothing bills are $25,000+ a week?

Maybe: Maybe she gets the clothes at a big discount because each time she wears something, right away it sells out at Nieman-Marcus! Then, out of the White House, she will auction off the clothes for big bucks?

You expected something else? The African and Arab immigrants don’t speak, read, or write English, German, French, Italian or much of any language, aren’t educated, are not able to participate in a democracy, have no 21st century work qualifications, come with some serious physical and psychological medical problems, need welfare, believe it is their right to rape women, etc.

But, Europe will learn.

.
We currently have a Chinese backed regime in North Korea.

I get what you are saying.

NK would become part of China in the fashion in which East Germany was a part of the USSR Warsaw Pact back in the day.

BRC
http://www.themusingsofthebigredcar.com

Europeans are starting to see that a large number of ummmgrants are not becoming Europeans. They are forming islands of their prior culture, including its massive poverty and naturally occurring radicalization, inside their host country. Lots of immigrants assimilate and succeed, don’t get me wrong. But, the ones that don’t, a significant minority, are equivalent to willingly importing the enemy. It’s a riot cause issue that is starting to be exposed.

I would take a Chinese backed regime in NK. Sooner rather than later.