A city with unfair advantages

This city is surrounded by rich soil, thanks to the convergence of two rivers. The rivers are navigable, bringing trade to the area. The fertile land produces agricultural wealth and has a remarkable 292 day growing season. The ocean is nearby, and so are mountains. The climate is temperate. Yet this city with ridiculous advantages is broke.

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The bankrupting of America

It’s official. Stockton, California, can file for bankruptcy. Bankruptcies are in the news. Thirteen cities have, or will soon, go bankrupt.

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