Detroit, Michigan – once America’s most prosperous city and home of the American Dream – just declared Chapter 9 bankruptcy. The business media is telling you, the investor, the citizen, the business owner to relax. It’s only the biggest municipal bankruptcy in American history. There are only $3.6 trillion in outstanding municipal bonds. They are safe. The system is stable.
You know: just like the mortgage market was.
Introducing the September 2013 issue, “The Catabolic Economy: Why Detroit’s Bankruptcy Matters”
I decided to focus on the Detroit bankruptcy – which may seem like a weird choice. After all, didn’t that happen way back in July? The business news media covered it, decided that the story wasn’t that important, and moved on to the next news cycle. Then again, I work the opposite way the news media does: I don’t care if it’s popular or timely, as long as it’s important. Here’s what I found fascinating around the Detroit situation that I want to share with you.
Featured in this month’s issue:
- Analysis of “The Catabolic Economy” – the trend of municipalities breaking down
- Why Detroit is so important – featuring detailed stats
- Who’s trying to stop Detroit from filing
- Assumptions around the $3.6 trillion U.S. municipal bond market
- Why the business media and the market have not reacted
- Lists of bankruptcies around the U.S.
- Why underfunded pensions threaten the bond market
Get your copy of The Catabolic Economy for just $5.00.
Also available: The podcast that explains the issue in depth. Sample below – download it here.
“The Garland Report Monthly, September 2013: The Catabolic Economy” by Eric Garland on Ganxy