Some people are looking for a sign...

[Copper Catcher]

I’m not someone who looks in a crystal ball and points to one event telling all who will hear me that this was straw that broke the camels back. However, I do see all that is happening like endless waves crashing on our shores which have eroded things to a point that we will certainly start seeing more and more damage.

One prime example this week is seeing Alabama's Jefferson County that will likely have to declare bankruptcy and will be the largest municipal bankruptcy in U.S. history $4.1 billion which is more than double the previous record set by Orange County, Calif., for a municipal bankruptcy. Congratulations Alabama!

Also California recently borrowed $5.4 billion from private investors Tuesday as a hedge against a possible default by the federal government. Now wasn't that sweet of them to do....

Back on May 21st of 2010 an article from zero hedge stated: 32 States Now Officially Bankrupt: $37.8 Billion Borrowed From Treasury To Fund Unemployment; CA, MI, NY Worst
http://www.zerohedge.com/article/32-sta ... ca-mi-ny-w

Interesting how the media has not said a peep huh!

I am excited, aren't you? Guess what boys and girls this is just the beginning! Wait to you see what the FDIC and other wonderful government institutions have in store for you this fall.

Break out the marshmallows and chocolate bars....I feel it heating up!

[Copper Catcher]

I guess the riots will have to break out in full force here before everyone wakes up. I see it in London and I think, this is the same county where the vast majority of the time the police don't carry a gun and the population has been disarmed with the exception of the criminals.

We are living in a crazy world at the moment with little to no real leadership.

[Treetop]

Weve got leadership. they are just confused who they actually work for imo...

[beauanderos]

Weve got leadership. they are just confused who they actually work for imo...

Oh, there's no confusion at all. They KNOW who they work for... but have to employ subterfuge so that the public believes it is them.

[RichardPenny43]

.

[Market Harmony]

Jefferson Co. has been in the spotlight for some time, now. At least 3 years in regards to this debacle. They built a massive sewage infrastructure that was not generating enough revenue to pay even the interest on the loans... sound familiar? Consider the city of Birmingham, AL to be enslaved to whomever bails them out (if that happens). It will become one of the worst cities in which to live. What a shame. Great place with better people.

[68Camaro]

Jefferson Co. has been in the spotlight for some time, now. At least 3 years in regards to this debacle. They built a massive sewage infrastructure that was not generating enough revenue to pay even the interest on the loans... sound familiar? Consider the city of Birmingham, AL to be enslaved to whomever bails them out (if that happens). It will become one of the worst cities in which to live. What a shame. Great place with better people.

Hmmm. I had wondered where Jefferson County Ala was, but hadn't looked it up, didn't realize it was Birmingham. I almost moved there to take a job in 1983, instead of Florida. Seemed like a great little town. That sucks for it.

[Mossy]

Jefferson Co. has been in the spotlight for some time, now. At least 3 years in regards to this debacle. They built a massive sewage infrastructure that was not generating enough revenue to pay even the interest on the loans...

I keep wondering if someone with lots of money is pressuring the politicians to get the various alphabet agencies to enforce the regulations more strictly exactly to force towns to take out those big loans.

[avidbrandy]

I think the reason you dont' see riots in American much is that it's so big. England's a small country. Something happens, it effects you more.

In the US it's easy to blame everything on 'washington' and move on with your life. It seems like a far away place and so people feel less obligated to do something about it themselves. Also, in terms of living, most people arn't starving yet. Life isn't bad enough for the average person to get people worked up as a group yet.

And we have this wonderful media, that helps us connect when things do happen. Look at Wisconsin and how large a protest there was there, compared to how much news coverage it got. Disgusting.

[Delawhere Jack]

Jefferson Co. has been in the spotlight for some time, now. At least 3 years in regards to this debacle. They built a massive sewage infrastructure that was not generating enough revenue to pay even the interest on the loans... sound familiar? Consider the city of Birmingham, AL to be enslaved to whomever bails them out (if that happens). It will become one of the worst cities in which to live. What a shame. Great place with better people.

Matt Taibbi recently wrote an article dealing with the Jefferson Co. debacle. Haven't read the article yet, but Max Kieser interviewed him a couple days ago. Very much worth watching.

[smalltimeopn]

Weve got leadership. they are just confused who they actually work for imo...

Yes, they are too busy going on vacation