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Muni Defaults Shift Into Second Gear

By CRONKITE – Tue Jul 17, 2012 9:50am – No Comments

“The can has been kicked. The austerity has been implemented. The revenues have fallen. And as we see in the chart below, the pace of local government distress is accelerating. As has been made so clear in the past, defaults cluster; and sure enough it is starting, as tensions between unions and city managers become irreconcilable.”

Full article and chart porn

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CRONKITE (9 days ago) I'll wager on trying to understand, but ignoring for what they believe is the greater good for now. [...]

Mr. Cain Thaler (13 days ago) Ugh, the whole premise of that was since the Fed (themselves) are buying the shit out of bonds, that somehow makes stocks cheaper / safer by [...]

CRONKITE (13 days ago) indeud! We have a right to know... [...]

Po Pimp (14 days ago) E&Y uncovers all this fraud in their survey, but how many financial statements have they refused to sign off on? Inquiring minds want t [...]

CRONKITE (15 days ago) it was a great slide show and it is a wonder we have come this far. perception is everything, but all that downward force will have to rever [...]

drummerboy (16 days ago) great article.this is what i was trying to explain to Bullish,on scott bleirs' thread the other day.this is more of a thorough explanation o [...]

CRONKITE (19 days ago) if u say so.... dare i say we go the other way [...]

Po Pimp (20 days ago) Cool. With the slack asses coming out of school now we will be at 0% unemployment in no time. [...]

Po Pimp (22 days ago) Newsflash... drill cuttings got fuck all to do with fracking. They come out of the ground as you drill the well. Fracking comes later in t [...]

heaterman (23 days ago) As has been said elsewhere on the www........"Japan is a bug in search of a windshield". [...]
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Major US	US Futures	Europe	Asia	Commodities	2yr Euro Yields	10yr Euro Yields	Oil
DOW 15,475.40 0.57% NASDAQ 3,512.06 0.28% S&P 500 1,678.01 0.53% VIX 13.41 0.30%	SPX 500 (CFD) 1,678.10 0.54% DOW (CFD) 15,472.50 0.55% NASDAQ 100 3,035.20 0.29% EURUSD 1.287 -0.33%	UK 6,837.30 0.53% GERMANY 8,533.50 0.69% FRANCE 4,050.30 0.37% SPAIN 8,464.00 -0.02%	H. KONG 23,260.00 -0.45% JAPAN 15,656.00 1.60% KOREA 1,993.83 0.64% SHANGHAI 2,302.40 -0.12%	NAT GAS 4.18 -0.33% GOLD 1,371.20 -0.46% SILVER 22.49 0.21% COPPER 3.38 1.39%	FRANCE 2YR 0.19 -10.90% GERMAN 2YR 0.00 -128.57% ITALIAN 2YR 2.18 27.59% SPAIN 2YR 2.81 8.21%	FRANCE 10YR 1.90 -0.37% GERMAN 10YR 1.43 2.59% ITALIAN 10YR 3.91 -0.31% SPAIN 10YR 4.18 -0.17%	WTI 94.79 -1.45% BRENT 103.11 -0.77% WTI/BRENT 8.32 321 CR SPR 21.96 10.04%