Meredith Whitney has come under fire since her predictions of such a calamity have not happened.....Yet, is the key word, I say.
Math is a b@tch.
Scary times for anyone really paying attention.
$107 Billion debt for NY, $97 Billion debt in Chicago, God knows how much in Miami. It ain’t pretty. A FReeper suggested to me that its different than Detroit because those cities have a tax base to support the debt but it seems to me an adequate tax base would me no debt.
I see a lot of can kicking and a real bad end coming fast.