Hi Dan - the muni pension deficit certainly looks like a serious threat.Barron's just came up with some pointers for muni investors to bypass that hazard, based on a recent client advisory by Howard J. Cure, director of municipal research for Evercore Wealth Management :'Bonds backed by specific revenue streams, such as sales or personal income taxes, with the debt service on the securities getting first dibs.''Essential-service revenue bonds, such as for water, sewer or electric utilities. Even people who "strategically" default on their mortgages keep paying their utility bills so the lights or water don't get turned off.''Bonds issued by private colleges and universities. While they are getting increasing competition from cheaper public colleges, private institutions typically have defined-benefit plans. Universities with substantial endowments and that are broadly attractive to students provide strong bondholder protection.'More useful details at the link:http://online.barrons.com/article/SB127655647997505801.html?...-------------------------------------------Global Gains Home Fool
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