$2tn Debt Crisis Threatens To Bring Down 100 US Cities -- The Guardian
Overdrawn American cities could face financial collapse in 2011, defaulting on hundreds of billions of dollars of borrowings and derailing the US economic recovery. Nor are European cities safe – Florence, Barcelona, Madrid, Venice: all are in trouble.
More than 100 American cities could go bust next year as the debt crisis that has taken down banks and countries threatens next to spark a municipal meltdown, a leading analyst has warned.
Meredith Whitney, the US research analyst who correctly predicted the global credit crunch, described local and state debt as the biggest problem facing the US economy, and one that could derail its recovery.
Read more ....
More News On The World's Debt Crisis
New U.S. govs take office amid historic budget crisis -- AP
France's AAA Grade at Risk as Rating Cuts Spread: Euro Credit -- Bloomberg
Moody's warns it could downgrade Spain banks -- AP
Following Ireland Downgrade, Moody's Cuts Irish Banks Ratings -- Wall Street Journal
Moody's may cut Greek credit rating, now on review -- International Business Times
Euro falls amid continuing debt crisis fears -- The Telegraph
Canadian dollar falls with euro as debt crisis weighs -- Reuters
European Investment Banking Fees Shrivel Amid Sovereign Crisis -- Bloomberg
Swiss Franc Hits Record Against Euro -- Wall Street Journal
Gold Advances on Concerns About European Debt -- ABC News
Pimco says 'untenable' policies will lead to eurozone break-up -- The Telegraph
The fiscal future of the eurozone -- Financial Times editorial
My Comment: Historically .... major wars usually resulted when countries experienced a deep financial and debt crisis. If true .... I think now is the time to start making plans on hiding in the hills.