Meredith Whitney on the Coming Collapse of the Muni Bond Market

The entire multi-trillion dollar sector is going down.

You will not want to own any municipal bonds after watching this video.

Meredith Whitney: "No Doubt We Have Entered A Double-Dip For Housing"

Via Zero Hedge:

Highlights from an interview by Meredith Whitney currently on CNBC:


A double dip in housing is a certainty

State economies are plunging, and are $200 billion underwater, will lead to 2 million in state-level layoffs leading to a low-end impact; raising taxes at state level will impact the top-end

Retail sales have been stronger only due to consumers not paying mortgages, retail sales have already topped as is

Q2 bank results will finally catch up with accelerated mortgage foreclosures; charge-offs and delinquencies in credit cards are better due to mortgage non-payment cash flow going to other obligations, and this will soon top as well

Structural employment issues in the US won't get better any time soon

Monitoring the Milken Institute Global Conference

Alan Prest of PEU Report emails:
 
Bob,

I ran across the speaker list for next week's Milken Institute Global Conference "Shaping the Future." 

You'll recognize many names, including:

Austin Beutner, City of Los Angeles
Leon Black, Apollo Management
David Bonderman, TPG Capital & GM Board of Directors
H. Rodgin Cohen
Robert Dove, Carlyle Group Managing Director, focus infrastructure
Numerous Goldman Sachs people
Nouriel Roubini
Meredith Whitney

There are lots of private equity, pension fund, and politicians (US & international)..  The media reps include John Carney, David Gregory & Andrew Ross Sorkin.