This is definitely Signal (versus noise): The coming fiscal catastrophe for "blue states" like California, New York, and Illinois.
Read the original article in the NY Times (!), or this analysis. Take your pick.
Outsized welfare programs, excessive regulatory environments, out of control public sector unions and all the rest are finally adding up for would-be buyers of state bonds, and they are voting with their checkbooks.
17-Jan-18 World View -- France's Emmanuel Macron vows no more Jungle refugee camps in Calais - Macron demands more money from Britain and to renegotiate the Le Touquet Agreement
3 hours ago