Meredith Whitney Watch
For people who make a living by offering predictions, it is worthwhile to track how well their crystal ball work on the long-term.
The famous once-analyst Meredith Whitney is currently forecasting impending crisis for the 50 states in the U.S.
“Crippling debts and deficits are about to make individual states the next casualty of the credit crisis…But other states, such as California and Michigan, will burden the entire country should the federal government decide to step in with a bailout. States are required to balance their budgets, but massive debt-service payments could prevent that from happening in many states and necessitate the federal government to step in.”
