Here's what to expect as the next shock waves hit:
1. Massive job losses — not only for employees of local and state governments, but also for those employed by private contractors, construction companies and thousands of corporations relying on state and local governments to maintain a semblance of economic and social stability in their area;
2. Giant new borrowing by local governments temporarily strapped for cash or trying to plug long-term gaping holes in their budgets;
3. Huge new supplies of municipal bonds hitting the market precisely when some of the biggest buyers of muni bonds — financial institutions like Citigroup, Bank of America and AIG — are being forced to dump munis to bolster their shattered portfolios;
4. New, major municipal bond defaults on the near horizon; and overall ...
5. The biggest threats to your income and wealth in your lifetime!
You must do everything you can to gain (1) a clearer vision of what's in store for you in 2009, (2) protection for everything you own and (3) an alternate source of profit and income that is truly depression-proof like the Home Seller Assist program created by John Alexander.
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