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Connecticut Capital Hartford Downgraded To Deep Junk, S&P Says “Default Virtual Certainty”

Connecticut Capital Hartford Downgraded To Deep Junk, S&P Says “Default Virtual Certainty” Two months after S&P downgraded the state capital of Connecticut, Hartford, to junk, when it cuts its bond rating from BB+ to BB- citing growing liquidity pressures and weaker market access, the city which has been rumored is preparing to file for bankruptcy […]

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Connecticut Capital Hartford Downgraded To Junk By S&P

Connecticut Capital Hartford Downgraded To Junk By S&P One week ago, Illinois passed its three year-overdue budget in hopes of avoiding a downgrade to junk status, however in an unexpected twist, Moody’s said that it may still downgrade the near-insolvent state, regardless of the so-called budget “deal.” In fact, a downgrade of Illinois may come […]

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The American Dream, Twice Removed

The American Dream, Twice Removed Vincent van Gogh Corridor In The Asylum 1889   Nicole Foss is in Christchurch, New Zealand right now for the Living Economies Expo, and sent me, I’m still in Athens, Greece, a piece written by yet another longtime Automatic Earth reader, Helen Loughrey (keep ’em coming!), who describes her efforts […]

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Puerto Rico Is Greece, & These 5 States Are Next To Go

Puerto Rico Is Greece, & These 5 States Are Next To Go As Wilbur Ross so eloquently noted, for Puerto Rico “it’s the end of the beginning… and the beginning of the end,” as he explained “Puerto Rico is the US version of Greece.” However, as JPMorgan explains, for some states the pain is really just beginning as Municipal bond […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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