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garlic

These 6 States Will Collapse During the Next Recession

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 garlic    2,639

Hum...California, New York and New Mexico was not a surprise!

 

Being on the hook is not going to be pretty when interest rates are raised back up, and debts come due. At a personal level, it will mean more stress and juggling to make ends meet. For the larger economy, it will mean cities and states unable to meet obligations or balance their budgets – ending in bankruptcy, and bailouts. Meanwhile, millions of people are relying on that money to keep coming in order to survive. Something is going to go very wrong.

Relying upon government to function and send you money is not a secure plan.

The mathematics are terrifying and dismal, and so is being caught up in these collapsing states.

In the next phase of the financial crisis, the debt supercycle will become the most defining feature of the big hurt that will fall on nearly everyone.

That’s the dire warning that Goldman Sachs issued about what they termed the Third Wave of the global collapse. But it hasn’t come, at least not yet:

<snip>

Right now, the biggest risks for a bankruptcy or collapse is in the these states, based upon the ratio between what Baldwin terms “makers” and “takers.” Basically, the socialist state is enveloping all prosperity:

• New Mexico – 148 dependents per 100 private sector workers

• West Virginia – 116 dependents per 100 private sector workers

• California – 114 dependents per 100 private sector workers

• Mississippi – 111 dependents per 100 private sector workers

• New York – 108 dependents per 100 private sector workers

• Arkansas – 103 dependents per 100 private sector workers

Detroit and Chicago top the lists of cities who wouldn’t be healthy in the ratio of makers/takers either, and would crumble in a debt crunch.

More: http://www.shtfplan.com/conspiracy-fact-and-theory/are-you-living-in-a-death-spiral-these-6-states-will-collapse-during-the-next-recession_12132016#

 

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