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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: UncleBigs6/10/2006 3:19:37 PM
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as the real estate bubble implodes, I see municipal bond spreads blowing out in counties where the property tax is tied to fair market value of the real estate.

state and local governments will be hard pressed to cut expenses fast enough as revenues start to recede. demands for schools and local services just continue to rise.

unfortunately the public schools and the poor will bear the brunt of a local government crunch.
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