Illinois can no longer rely on tax increases, service cuts, prospective benefits reductions and workforce reductions to keep its failing pension systems on life support...

"...financing concerns amid the Covid-19 outbreak are even more severe than they were in 2008."

It’s the “credible” part that goes lacking. Thus, the parade of counterexamples – “Japan 2001. America 2008. Japan 2013. Europe 2015” – each one unanswered by any inflationary breakout...

...more importantly, going to The Fed... would send a signal to the market of Illinois’ further distress.

Ordinary Americans are going to get super-pissed if money doesn’t disappear from the stock markets, too. They’ve seen this movie before. They will know for sure that they were played...

Even more, renters no longer need to prove that their earnings have been affected by coronavirus...
 

California serves as an early sign of the potential magnitude of the federal assistance that could be required...

"Just 13% of the 45% who applied for a PPP loan were approved..."

The country is on lockdown, unemployment is skyrocketing and mayors and governors now have a plausible way to rebrand their criminal mismanagement as a “natural disaster” deserving of outside help...

"Whenever there’s a trillion dollars out on the street that quickly, the fraudsters are going to come out of the woodwork in an attempt to get access to that money."

“Hertz could be materially and negatively impacted”

"The Fed is robbing the middle class once again..."