full statement at link.
http://www.sacbee.com/static/weblogs/capitolalertlatest/2009/12/treasurers-offi.html
“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
Everyone else knows the State Treasurer is full of s%@$#.
head in the sand alert
see that other thread? 47000 fewer employers in CA
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.
no basis in reality,