"The economists said the widely held belief that municipal bonds almost never default is based on only a narrow slice of the market — the safest part, consisting of bonds that are graded by the main ratings agencies when brought to market. When the researchers looked at a much broader sample, which included unrated bonds, they found there have been about 36 times as many municipal defaults over the past 40 years as the conventional wisdom suggests."
No investments are safe anymore. Buy land, tools, food, guns and gold, and make your money really work for you. Hard to go wrong that way based on what we are faced with... – Wes