Unfortunately for California, state governments cannot file bankruptcies.
I read a news bite recently saying that legislators are thinking about rewriting the constitution to eliminate propositions. They will sell it as a cure for all the chaos. Then they will raise taxes without mercy.
I wouldn’t be buying any
Municipal Bonds Issues from California
Is that true? how come? what DO they do when they can't pay bills? has any state ever defaulted?
About half the people in this country respond like programed animals to whatever the media tells them. Buy! Buy! The economy is wonderful! Obama, dear leader, has turne the economy around by nationalizing banks and the car industry!
Chapter 9 ???