This November, the whole world tuned in as the greater part
of the U.S.A.’s 50 states turned red — and no, I don’t mean
the political shift to a republican majority during the November
2 mid-term elections. I mean “in the red” — as in,
financially fercockt, overdrawn, up to their eyeballs in debt.
This
article was syndicated by Elliott Wave International and
was originally published under the headline United STRAITS of America: The Muni Bond Crisis Is Here.
EWI is the world’s largest market forecasting firm. Its staff
of full-time analysts led by Chartered Market Technician
Robert Prechter provides 24-hour-a-day market analysis to
institutional and private investors around the world.
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