Yep. We know what you will hear on the popular news channels—this is only #4 for the year. Oh that’s not that bad. Its certainly not the 100s Meredith Whitney or the popular market site, StockMarketShorts.com—but, as they say, it’s early. So, what does this mean? I think its pretty clear—tax revenues and accessible lag the economic cycle. But, they certainly don’t defy the economic cycle.
So, today, we see the new “record” for a Ch 9 Bankruptcy…the winner is Jefferson Co. Alabama! But, we would be willing to bet that it wont be the last, and it wont be the biggest for long!