US Cities Bankruptcy

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Uploaded by on Dec 28, 2010

In Michigan, a city is pleading for bankruptcy option and the state officials fear it could start a domino effect with dozens of cities filing for bankruptcy throughout the US.

Press TV's Rhonda Pence reports from Washington.

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Top Comments

  • America is a Fourth World Nation with all the money going to Wars, Politicians and Bailing out Corporations.

  • Well back to the wild we go, I'll get my tent, fishing rod and line out and then head the woods. Well at least if I can't trust the government, I am sure I can trust good old mother nature to see me though. Peace!

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  • @DawsonTheAwesome indeed...

  • @halcyon0830 No..we are Rome. pure and simple. Our governing body are corrupt. The moneychangers own the empire...and baby..here come those huns and goths...

  • I said it years ago, get out of the US while you can. Martial Law will be put in place, food crisis, dollar crash, military take over, civil war worse than egypt, mass murder by FEMA , man made viral out break, mass gassing on trains to fema camps.

    Its the soon end of the US as you have known it.

  • It's just a matter of time now

  • @elite1980s: Exactly my plan too, life by the river, if you can do it long term and sustainably, it would be surely the best way to ride out this catastrophe! I hear those trout callin out...

  • Our arrogance and xenophobia got the best of us.

  • Muni Bonds for cities dropped sharply last week that's bad news for cities in the US. Once they collapse completely the Fed will step in and buy up all the bonds once they hit bottom. It will be a massive bailout of about $2 Trillion or so. Meaning higher prices than what were seeing now. Keep cash on hand. I'd stock up on some food just in case these ppl destroy everything you've worked for.

  • @cobra60six

    Thats not entirely true. "Greedy" bankers can only be "Greedy' If you have money for them to take. Its in their best interest believe it or not, for a prosperous economy. Unions are largely to blame, as well as the extreme liberal politics of Michigan that has been around for decades.

  • @helltrackrider LOL!!!!

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