by John Galt
March 27, 2012 22:45 ET
As has been the habit of the U.S. banksters, the sheep have been herded into another bubble which is about to implode and shear them once again. The media spend the majority of 2011 incessantly attacking Meredith Whitney and her prediction of a municipal bond catastrophe without even taking a moment to analyze the underlying condition of the various locations at risk. Jefferson County, Alabama proved to be the largest implosion in history but it would appear that it shall soon lose that honor to another California location. Just remember as I outlined in my original piece on the subject in 2008, Municide, that the inevitable crisis will occur as real estate values continue to plummet.
With residential real estate at decade lows and commercial real estate falling faster and farther underwater at a frightening pace, it is only a matter of time before the dominoes begin to fall. Below are a sampling of the recent stories highlighting the extent of this ongoing disaster from various media sources around the country.