First Vallejo, then Stockton, then Mammoth Lakes, and now San Bernardino and soon possibly Compton. As Orange County Supervisor John Moorlach told Bloomberg News, the bankruptcy dominoes are starting to fall. As Steven Greenhut reports, one California city after another—following a decade-long spree of ramping up public-employee pay and pension benefits, as well as redevelopment debt—are becoming insolvent.
The cultural views of elite white liberals are not popular with many minorities.
We can justifiably hope for normalcy by Independence Day.
The rest of us are out of luck.
Plus: The era of sovereign influencers, a new experiment in universal basic income, and more...