Paul Singer On Detroit, Obamacare And The Uselessness Of Computers

Paul Singer says in plain words that Detroit’s recent insolvency is just a preview of what a full-fledged collapse of U.S economy will look like. In the third quarter letter, which was reviewed by ValueWalk, Paul Singer takes a jab at the Fed’s strategy of ‘saving’ the economy with huge amounts of money-printing and says that unfortunately states in the U.S cannot do the same. Read more about what Paul Singer said in his Q3 letter (as we first reported) here. “In the U.S., states cannot file for bankruptcy. Cities can, however, and there is a special provision in federal bankruptcy…