Which American Cities Will File Bankruptcy Next? (And is it time to move?)

Chicago is in bad shape. But there are other spinning gyres of municipal dysfunction dotted across the country.

(From Zerohedge)

We harp on the massive, unsustainable, yet largely unnoticed, debt burdens of American cities, counties and states fairly regularly because, well, it’s a frightening issue if you spend just a little time to understand the math and ultimate consequences.  Here is some of our recent posts on the topic:

• America’s Pension Bomb: Illinois Is Just the Start
• Stanford Says Soaring Public Pension Costs Devastating Budgets For Education And Social Services
• Pension Consultant Offers Dire Outlook For Kentucky: Freeze Pension And Slash Benefits Or Else

Luckily, for those looking to escape the trauma of being taxed into oblivion by their failing cities/counties/states, JP Morgan has provided a comprehensive guide on which municipalities haven’t the slightest hope of surviving their multi-decade debt binge and lavish public pension awards.

If you live in any of the ‘red’ cities below, it just might be time to start looking for another home…

Click here for the article.

http://www.againstcronycapitalism.org/