Could a Puerto Rico Default Hammer the $3.7 Trillion US Muni-Bond Market in 2014? |
| January 04, 2014 | January 2014 Bond Updates |
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A democracy will continue to exist up until the time that voters discover they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship. |
| View more at: http://www.forbes.com/sites/larrymcdonald/2014/01/03/puerto-rico-default-to-re-price-the-3-7-trillion-municipal-bond-market-in-2014/ |
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