The coming muni meltdown--Charles Gasparino - NYPOST.com:
"The municipal-bond market is in crisis, with prices fall ing and investors running for cover -- and for good reason. Munis -- bonds sold by states, cities, counties and other localities to finance government operations -- are in trouble because the Ponzi scheme of Big Government is coming unglued. The markets are merely reflecting this reality, as they always do. The $3 trillion muni market was once regarded as the safest of all investments because the bonds are backed by government taxes. Now it's showing all the earmarks of the 2007-08 meltdown."
Read more: http://www.nypost.com/p/news/opinion/opedcolumnists/muni_meltdown_10IepFWdpphKZrTnoxftBK#ixzz1BJhQQEj2
But the economy is recovering. Just ask Ben Bernanke.