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This is a story about bankrupt America and how it begins to cope. |
This is a story about the United States in the near future. Or perhaps what is left of the United States in the near future. For one by one states started to go into default. At first it was New York. Then a state I can't spell called Mass. The disease then spread to California. The Federal Goverment heavily in debt itself announced it would not help. So desperate states turned to the still healthy ones for help. But no one anticipated that the age of geography was coming to an end. It started when New York asked Virginia; still flush with cash for a bailout. Virginia informed New York it didn't want to lend it wanted to buy. To wit : New York was 17 billion dollars in the red. Virginia could put together 17 billion from the state treasury plus by seelin bonds with it's AAA credit rating. What Virginia wanted was Nassau County. This wealthy county contained the Hamptons. If Virginia could get it the county would pay for itself in 9 years. New York was was shocked by the proposal and vehmently refused. But what could New York do? The federal goverment was broke and Conneticut and New Jersey were unwilling to help. The bond market rated New York bonds as C+ and the voters were unwilling to pay junk bond interest rates. |