There will be no winners once Detroit enters bankruptcy. Those who were promised health and retirement benefits are going to be faced with stark painful reality. Bondholders are going to take a massive haircut. Those residents still living there will have to tighten their belts still further.
If Washington D.C.'s Mayor Vincent Gray doesn't veto a discriminatory minimum-wage law targeted at Walmart, the retailer is likely to shrug, and find other friendlier places to do business.
There are political costs as well, but the 75 percent reduction in Americans' standard of living shows just how costly the regulatory state has been for the country over the last 56 years. By Bob Adelmann
The Rockefeller Foundation, mega-banks, and even taxpayers via the U.S. Agency for International Development (USAID) have provided millions of dollars toward pushing a new type of “socially responsible” corporate structure known as the “benefit corporation.” More than 15 states have already signed on. Critics, however, say the scheme will further undermine what remains of the market system while promoting deeply controversial United Nations Agenda 21-linked notions of “sustainable development.”