City of Stockton Bankrupt~

[Positive Vibe Merchant]

Hi All,

I just came across this while going through the MSM headlines.

A JUDGE has accepted the California city of Stockton's bankruptcy application, making it the most populous city in the nation to enter bankruptcy.

http://www.heraldsun.com.au/news/breaking-news/us-city-stockton-to-enter-bankruptcy/story-e6frf7k6-1226610599166

I am sure there will be alot more of these to come out now that the levee has broken.

PVM

[ghostrider]

spending more than you make never ends well does it ??? spending money when you don't make any (federal government) has only one outcome... bankrupt and your things are sold at auction ...40-45 percent working 50-55 percent dependant , there is only one outcome... I never understood it, ehummm I don't have a job so please mr government take money from those working and give it to me so I can stay home , talk on the phone , play x-box, get 5,000 in tax returns and throw in some food stamps , I might get hungry from all that gaming... forgive me I'm a bit testy from monday's stressfull workday ... the matrix gets me down when I spend to much time in it ...

[chancy]

Hello Everyone:
This appears not to be a new trend. Here is a website that tracks bankrupt cities, municipalities and gives a list and a map of the whole usa.

http://www.governing.com/gov-data/municipal-cities-counties-bankruptcies-and-defaults.html

The situation doesn't look very good but there is always room for optimism.
chacny

[Mulder]

What will IMO happen is the cities will be "bailed out" by Obama only if they implement his policies like Obamacare, NDAA...