60 minutes tonight are saying that most the states overspent and will need another bail out to keep them floating because they based their spending on the stimulus government money. Now it's over. It's time to pay the fiddler. Are we closer to another financial desaster. Me thinkest so. I just wish that it would happen soon so we could get through it and maybe start a better budget system.

Quote from: offgridbob on December 19, 2010, 07:13:13 PM
60 minutes tonight are saying that most the states overspent and will need another bail out to keep them floating because they based their spending on the stimulus government money. Now it's over. It's time to pay the fiddler. Are we closer to another financial desaster. Me thinkest so. I just wish that it would happen soon so we could get through it and maybe start a better budget system.

I am ready to CTRL-ALT-DELETE the whole system right now...

I'm with ya Bob, living in Ca and watching the libs rob Peter to pay Paul, is a move in futility, Peter left a long long time ago.
I want it to collapse, so the rats will abandon the ship, and let us refloat it.

Meredith Whitley is widely respected and her words should send cold chills throughout the Municipal Bond Markets.

I paid particular attention to the words "lack of transparency."

Her Staff which only researched the 15 largest States could only find numbers back to early 2008, before the collapse.

She did not mince words when she said "within" 12 months Major Municipalities will begin to fail.

When asked "How Many", she said 10-15 but the numbers could likely run to a hundred or more.

Of course, the two States wading through the deepest financial doo doo are IL and CA.

When one of the major cities defaults, Bond Rates will soar everywhere.

What does 60 Minutes know?  Who cares what Meredith Whitney says?  Everything is just FINE in this country.  This is America.............land of the free, home of the brave, land of plenty.  We can overcome ANYTHING.  Just look at our history.  The Great Depression made us STRONGER. 

Don't bother with stocking up on anything, or preparing for hard times.  Crazy people like me don't know what the hell we are talking about.  I'm just a one-man plagiarizing machine, spreading fear and lies and stealing other people's words.   :-* :)) :o ;D 8)

Quote from: AmericanFlyer on December 20, 2010, 08:11:30 AM
What does 60 Minutes know?  Who cares what Meredith Whitney says?  Everything is just FINE in this country.  This is America.............land of the free, home of the brave, land of plenty.  We can overcome ANYTHING.  Just look at our history.  The Great Depression made us STRONGER. 

Don't bother with stocking up on anything, or preparing for hard times.  Crazy people like me don't know what the hell we are talking about. I'm just a one-man plagiarizing machine, spreading fear and lies and stealing other people's words.   :-* :)) :o ;D 8)

I think it time for a group hug.  ;D