Stockton, California can now breath a small sigh of relief. It’s no longer the largest American city to declare bankruptcy. Detroit has filed for Chapter 9 bankruptcy. Bonus: The city has more than 100,000 creditors. This is the endpoint of the cradle-to-grave welfare state. Certainly Detroit got there faster than most will, thanks to endemic … Continue reading Detroit Celebrates 50 Years of Uninterrupted Democratic Rule By Declaring Bankruptcy