California City of Compton May Go Bankrupt, With More Cities to Follow.

• Compton will be out of cash by September.
• Do bond holders get paid off?
• How about vendors and utilities getting paid?
• It may be that the whole Golden State of California may go under as well.
• If you have services for the state, best you work with cash in advance.

Here is a list from the article of some more possible cities in the Golden State that may go broke as well.

Victorville, Montebello, Los Angeles, Oakland
It’s a safe bet to add Montebello and Victorville to the list. Moreover, some of the big guns will eventually go under as well.
Unsound pension problems will be the death of many cities. I consider Oakland and LA to be sure things. It’s just a matter of time.
Delays in filing will only waste more taxpayer money. Eventually cities will catch on and there will be a flood of bankruptcies.

A city in Pennsylvania had the same problem, the mayor put everyone on minimum wage. 


Read more about it in the California Political News & Views by Stephen Frank.