One by one, England's councils are going bankrupt - and nobody in Westminster wants to talk about it

[SWBTATTReg]

1. Don't know what it takes to force a city or municipality to declare bankruptcy, but I suspect this moment will

arrive soon, as cities, municipalities fail to meet payrolls, bills, etc.

Kind of what we here, in the states went through, when we had massive bond defaults. And this environment that we have today (or getting to) is getting similar in scope, higher interest rates, higher credit risks (due to the COVID crisis, but support payments due to COVID have ended, thus no help there).

Thing is, some on DU probably invest somewhat in these municipal bonds, due to stable interest rates, as well as being tax-free in some cases.