Detroit Bankruptcy

Krugman's piece this morning is the Voice of Reason, (as is often the case). I listened to a news report about how Detroit may "have to" sell off the Detroit Institute of Arts' collections with dumbfounded incredulity. These fiscal naysayers are incredibly stupid and clueless. (Not to mention the little problem that, fortunately, the City does not own the collections).

We as a nation just have to suck it up and deal with the consequences of economic decline in one of our formerly great manufacturing cities. I would think that this would be so blaringly obvious to rational human beings that it would require little discussion, but apparently I was foolishly naive, as usual.