WSJ lists 12 municipalities identified by Moody’s as in fiscal trouble and their current status.
Munis
|
Ratings
|
Fiscal Emergency
|
Receiver- ship
|
Mediation
|
Bankruptcy
|
Default
|
|---|---|---|---|---|---|---|
Central Falls, RI
|
Caa1/RUR
|  | | | ||
Detroit, MI
|
B3/RUR
|  | ||||
Harrisburg, PA
|
WR
| | | |||
Jefferson Cty, AL
|
Caa3/RUR
| | | | ||
Menasha, WI
|
Ba2/STA
| | ||||
Moberly, MO
|
Not Rated
| | ||||
Pontiac City School District, MI
|
B2/NEG
| | ||||
San Bernardino, CA
|
Not Rated
| | ||||
Scranton, PA
|
Not Rated
| | ||||
Stockton, CA
|
Caa3/NEG
| | | |||
Vallejo, CA
|
WR
| | | | | |
Victor Valley, CA
|
Ba1/RUR
| | ||||
Wenatchee, WA
|
Ba2/RUR
| |
We are in the early stages. This list will eventually multiply many fold and include not only towns and cities, but also many states. The only way the crisis can be stopped, other than by defaults, is through Fed money printing, which will result in massive price inflation. It's probably a year or two before the crisis really intensifies, but it is coming.
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