Quote of the Day - Mike Shedlock

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"You cannot pay what you do not have. This is the triumph of math and common sense over union greed, arrogance, threats, and coercion."

~ Mike Shedlock, Mish's Global Economic Analysis,

speaking to the lawsuits by public employee groups and pension funds regarding Detroit who alleged the state overreached in seeking court protection from creditors and those claims blocked by the U.S. Bankruptcy judge.