'US cities could face bankruptcy next year'

A leading American analyst warns that over 100 US cities could face bankruptcy next year against a backdrop of soaring debt crisis that threatens to trigger massive municipal meltdown.

Meredith Whitney, the US research analyst, who is known for her accurate prediction concerning the global sovereign debt crisis, said that the US economy is constrained by a vaulting local and state debt, which is considered the main setback for the overall state of the economy in the United States.

The prominent American expert portrayed a grim view of the economic recovery for the debt-ridden cities in the United States in 2011, adding that "there's not a doubt on my mind that you will see a spate of municipal bond defaults. You can see fifty to a hundred sizeable defaults - more."

Category:

Nonprofits & Activism

Tags:

• crise
• eua
• Meredith Whitney
• Rollin Amore
• Oppenheimer & Co. Inc.
• Washington economic

[LikableDesi]

Dont be too happy Iran. If US goes bankrupt, be ready for hell on earth.

[buddybleau]

@coffeejunkie33 They won't be prepared. The educational system has been dumbed down, after all, look who they voted for president. Most people have no idea what is coming. Most don't even know the population of America or how many states there are, just like Obummer didn't know. We're in a sad situation! Goddamn crooked politicians!!!

[coffeejunkie33]

@buddybleau No doubt I agree w/ you. Once this happens all hell will break out & ppl will loose so much. If ppl are not preprared for this they will be screwed.

[buddybleau]

What do you mean "COULD"? It's inescapable! Hang on, it's gonna be a rough ride ahead!