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Default 120V between Neutral and Ground

On Tue, 15 Mar 2011 19:39:32 -0700 (PDT), Aaron
wrote:

I have been trying to trace down where a circuit starts showing
voltage between my ground wire and neutral wire. I found the a
receptacle on the circuit that is correct where the neutral and ground
show 0V, and then a box which I believe is the next receptacle that
shows 120V between the ground and neutral. I have looked in both
boxes and everything looks correct.

1st Box
H-N = 120V
H-G = 120V
N-G = 0V

2nd Box
H-N = 120V
H-G = 0V
N-G = 120V

'
If you have 120 between your neutral and ground, that's good. They
don't bill you for current on either of those conductors, so if you
reconnect your circuits, you can run your electric things for free.

What can cause the above scenario. A short? A broken wire?
Also, is this dangerous? I think it has been like this for awhile.