Скачать или смотреть Charlie Munger Warns: These 6 States Will Collapse First in the 2026 Recession

🚨Charlie Munger warns: Six US states will collapse first in the 2026 recession. Not speculation—arithmetic. These states made promises they cannot keep, and the math is catching up fast.

Charlie Munger has watched this pattern repeat through 7 recessions. The mechanics never change: States that depend on single industries get crushed. States that borrow excessively get strangled by debt service. States that chase growth without infrastructure discover growth creates more problems than it solves.

THE 7-STAGE FISCAL COLLAPSE SEQUENCE:
Stage 1: Revenue consistently misses projections (explained away as temporary)
Stage 2: State borrows to cover shortfalls (creates debt service obligations)
Stage 3: Rating agencies downgrade debt (increases borrowing costs)
Stage 4: Businesses and wealthy individuals accelerate exit (tax base erodes)
Stage 5: Property values decline (second-largest revenue source shrinks)
Stage 6: Political system paralyzed (nobody wants to make hard choices)
Stage 7: Crisis hits suddenly despite being foreseeable for years

WHY THIS AFFECTS YOU EVEN IF YOU DON'T LIVE THERE:

Municipal Bond Market Contagion
When these states approach insolvency, investors dump bonds
Raises borrowing costs for ALL states, even fiscally healthy ones
Entire municipal bond market reprices based on increased risk

Banking System Exposure
Regional banks hold enormous amounts of state and municipal debt
When debt loses value, bank capital ratios deteriorate
When capital ratios deteriorate, lending contracts everywhere

Federal Bailouts = Your Taxes
When major states fail, federal government intervenes
Your taxes fund rescues of states that made unsustainable promises
Creates resentment and political instability nationwide

Migration Spreads Problems
Residents flee these states and bring their politics with them
Vote for same policies that destroyed states they left
Spreads fiscal problems geographically

Moral Hazard Precedent
Once federal government bails out states, every fiscally troubled state demands equal treatment
Incentivizes irresponsible behavior: why exercise discipline if you'll get bailed out?

⚠️ DISCLAIMER:
This is a fan-made educational channel not affiliated with Charlie Munger, Berkshire Hathaway, or any related entity.
All content is for educational and entertainment purposes only. This is not personalized financial advice. Always conduct your own research and consult qualified financial professionals before making investment decisions.
**The narration uses a digitally generated voice that is inspired by Charlie Munger’s speaking style. It is not a real recording, and no attempt is made to imitate, impersonate, or mislead viewers into believing the audio is authentic.

🌟 IN MEMORY OF CHARLIE MUNGER (1924–2023)
Charlie Munger passed away in 2023 at the age of 99, leaving behind not only immense wealth but also timeless wisdom. His principles of rational thinking, patience, and humility continue to guide generations of investors

© 2025 The Munger Files

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