Posted on 12/16/2009 5:53:50 PM PST by NormsRevenge
The state Treasurer's Office came down hard this afternoon on a prediction from California Lutheran University economists that the state could default on some of its debt, calling the warning "balderdash" that is "nothing more than irresponsible fear-mongering with no basis in reality, only roots in ignorance."
(Excerpt) Read more at sacbee.com ...
full statement at link.
http://www.sacbee.com/static/weblogs/capitolalertlatest/2009/12/treasurers-offi.html
earlier thread.
Cal Lutheran forecast suggests state debt default likely
http://www.freerepublic.com/focus/f-news/2408762/posts
“Balderdash!”
“irresponsible fear-mongering with no basis in reality, only roots in ignorance.”
Here, take these IOUs. Don’t worry I am good for it.
(do i need a sarc tag?)
GM bond holders were equally confident
“Reports of icebergs along our track are nothing but balderdash! Full speed ahead!”
—Captain Smith
“Hey, these IOUs are JUST as good as money. Next year, anyway. I just need a little time.”
—Vinnie the Weasel
——(Before his legs are broken by Vito and Luigi)
Everyone else knows the State Treasurer is full of s%@$#.
It’s not the amount you borrowed, it’s the “vig”
China will want more than 0% next year.
head in the sand alert
see that other thread? 47000 fewer employers in CA
I think he still harbors hopes that Moonbeam or Di’Chi’Fi will not run and he will be the next Gub, then he can reign with his MALDEF attorney wifey&kids as the state slowly sets into the mud and reeds.,, thus the positive portrayal as “We have nothing to fear. Too big to fail.. yada yada”
“What? The furniture too? Can we stay in the house? No? Damn! How did this happen?”
No doubt they'll be given priority as the soup-lines form. Not.
Look, a capitalist society can support socialism on a level no other can. Especially a socialist one. We can absorb Socialist Security and Medicommicare up to a point.
Beyond that, with State spending out of control, for-get-about-it. There is a camel, and there is a back for crying out loud.
When there is no problem, accountants can be put in charge, and accountants generally state their reports in very flexible, noncommittal terms. Even in the best of times, an accountant’s reports can be interpreted to mean that there could be an upcoming disaster. Read an audit of a healthy company sometime, and you’ll get a sense of how good accountants think and write. They are pretty much NEVER willing to make any statement with absolute certainty.
When you get a statement filled with political - type words and phrases like “balderdash,” “ludicrous comment,” and “absolutely no danger,” it’s a sign that no accountants could be found to write the statement, and politicians, who use different language, had to be used instead. It’s a dead giveaway that something is very very wrong.
So, those sort of bombastic statements from the Treasurer’s office are, in my opinion, a sign that things may suddenly get a whole lot worse.
head in the sand? Yup. Got it.
CA: State lost 47,000 employers in 2008
http://www.freerepublic.com/focus/f-news/2409225/posts
Ahnuld! STFU and go away. The senate and assembly regard you as about the same threat as a rutabaga.
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