Send a Tweet
Most Popular Choices
Poll Analyses
Share on Facebook 4 Share on Twitter Printer Friendly Page More Sharing
OpEdNews Op Eds    H2'ed 1/15/11

America Replicating Japan

By       (Page 7 of 9 pages) Become a premium member to see this article and all articles as one long page. (View How Many People Read This)   1 comment
Author 194
Message Stephen Lendman
Become a Fan
  (193 fans)

This piece was reprinted by OpEdNews with permission or license. It may not be reproduced in any form without permission or license from the source.

Mindless deficit spending has a price, including "higher inflation, a weaker dollar and the eventual loss of America's AAA sovereign credit rating." It's just a matter of time, Gross warning: "Fear your head - fear your head."

Municipal Bond and Public Pension Default Risks

On 60 Minutes in late December, banking analyst Meredith Whitney predicted from 50 - 100 "significant" municipal bond defaults in 2011 (in cities, towns and counties, not states), totaling "hundreds of billions" of dollars.

The 2008 US record so far is $8.2 billion. Defaults at multiples of that total would greatly impact the economy.

Forecasting trouble, financial expert/investor safety advocate Martin Weiss believes:

(1) Rapidly sinking municipal bond prices "will suffer one of the greatest collapses of all time."

(2) It will affect other vulnerable bond markets, notably mortgage-backed securities and long-term Treasuries.

(3) When bond prices fall, interest rates rise, driving up borrowing costs for business, federal, state and local governments as well as consumer households.

Next Page  1  |  2  |  3  |  4  |  5  |  6  |  7  |  8  |  9

 

Must Read 2   Well Said 2   Interesting 1  
Rate It | View Ratings

Stephen Lendman Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

[My newest book as editor and contributor is titled "Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III." www.claritypress.com/LendmanIII.html]

Stephen Lendman was born in 1934 in Boston, MA. In 1956, he received a (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert

To View Comments or Join the Conversation: