Are You "Living In A Death Spiral"? These 6 States Will Collapse During The Next Recession

ZeroHedge.com ^ | !4 December 2016 | Tyler Durden

[Rockitz]

Being on the hook is not going to be pretty when interest rates are raised back up, and debts come due. At a personal level, it will mean more stress and juggling to make ends meet. For the larger economy, it will mean cities and states unable to meet obligations or balance their budgets – ending in bankruptcy, and bailouts. Meanwhile, millions of people are relying on that money to keep coming in order to survive. Something is going to go very wrong.

Relying upon government to function and send you money is not a secure plan.

The mathematics are terrifying and dismal, and so is being caught up in these collapsing states.

In the next phase of the financial crisis, the debt supercycle will become the most defining feature of the big hurt that will fall on nearly everyone.

That’s the dire warning that Goldman Sachs issued about what they termed the Third Wave of the global collapse. But it hasn’t come, at least not yet:

This wave is characterised by rock-bottom commodities prices, stalling growth in China and other emerging-markets economies, and low global inflation, Goldman Sachs analysts led by Peter Oppenheimer said in a big-picture note.

This triple whammy has its roots in the response to the first two waves of crisis — the banking collapse and European sovereign-debt crisis — and it is all part of the so-called debt supercycle of the past few decades.

Unfunded liabilities for pensions and other state benefits are threatening the security and future of an entire generation of retiring, hardworking Americans.

The debt will be shifted for as long as possible… but eventually, someone will have to come to terms with it.

[leftcoaster]

Better change your p@ssw0rd.

[LegendHasIt]

Or maybe just change my brain ;-)

[dr_lew]

I’m there, dude.

[oldbrowser]

Nevada isn’t even on the list at all.

[RayChuang88]

California is home to the technology and entertainment industries. New York City is the world’s #1 financial center. These two states aren’t cratering anytime soon.