US the next Greece?

US the next Greece?

With banks closing their doors for the week in Greece, some say that the next financial crisis could be in the United States.  Detroit, as well as three Californian cities — Vallejo, Stockton and San Bernardino have recently had to file for bankruptcy due to unpayable pension costs.  “In those cases, the courtroom turned into a brutal battlefield pitting bond investors trying to save the money they invested in those cities’ municipal bonds on one side. And on the other side have been public employees trying to save the dwindling pensions that were promised to them.”

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