Friday, April 16, 2010

10 U.S Cities in Free Fall

It is very difficult to determine all the cities in the U.S. in trouble do to the opaque nature of the financial records in these cities, but Forbes has a slideshow detailing 10 metropolitan areas with very obvious problems:

1. MSA: Miami-Fort Lauderdale-Pompano Beach, F

2. MSA: Tampa-St. Petersburg-Clearwater, FL

3. MSA: Riverside-San Bernardino-Ontario, Calif.

4. MSA: Jacksonville, Fl.

5. MSA: Phoenix-Mesa-Scottsdale, AZ

6. (Tie) MSA: Los Angeles-Long Beach-Santa Ana, CA

6. (Tie) MSA: Orlando-Kissimmee, FL

6. (Tie) MSA: Sacramento--Arden-Arcade--Roseville, CA

9. MSA: Las Vegas-Paradise, NV

10. MSA: Providence-New Bedford-Fall River, RI-MA

The slideshow with the data behind the listings is here.

Obviously, it doesn't make any sense to own any  G.O. securities issued by any government entities in any of these areas.

1 comment:

  1. Many more cities could easily extend this list. But Wenzel's comments regarding L.A. are on target for all of these spendthrifts. It is a battle between the taxpayers and the public employee retirees. If the retirees win and taxes go up watch out for the biggest exodus to the suburbs and beyond since the exodus after public school busing. Former L.A. Mayor Riordan's suggested bankruptcy filing avoids this but the battle could get ungly.