Posted on 02/20/2011 1:27:48 PM PST by The Magical Mischief Tour
Gov. Quinnochio won the election by around 20-30,000 votes, and carried only two counties in the state, the most important one, Crook, I mean, Cook, where Chicago is. They paid every wino, dope addict, felon, etc. they could get their hands on to “get the vote out” and Quinn won. The Republican, Brady, a wealthy real estate developer, proposed a solid conservative platform, although he was not media effective in the race (some what dry in his delivery and not enough charisma). Regardless, Illinois voters need to get this clown out of the picture, and it better be in less than four years. This state is in horrendous financial shape and I hope Wall Street isn’t able to peddle bonds that will probably go into default sooner than later. We are in a world of hurt and the democrats still have a stranglehold on the state and Chicago. We deserve the misery we get however the conservative folks are about finished and will be leaving the state to retire. I know I plan to. You can’t afford the taxes anymore for one thing, and you are tired of decades of corruption primarily democrat, with a fair share of Republican as well (the Republicans here are primarily RINO’s with a few solid ones in the mix). Very depressing.
What an investment. Lend money to a state government so they can dole out all the cash to non-productive workers. Nobody in their right mind should buy these bonds. Illinois should be forced to use loan sharks if they want the money.
Government employee payroll and pensions should be public knowlege
Who’s getting how much?
Bond buyers are the financial drug dealers of the welfare state. They make blood money off supporting the engine of our decline, and the enemy of our liberties.
By the time The Bernanke is done printing, the Amazon will have to be clear cutted.
Yeppers. The state of ILL-n-annoyed is in for a future date with an economic showdown of ugly proportions. Wisconsin will be sitting much better.
“Wonder if any IL legislators will escape to WI?”
I don’t know, but some of the teachers they can no longer afford to pay might take the newly available teaching jobs in Madison...
I bet they will have to cancel the underwriting for lack of interest in the bonds. This clown Quinn is on a fast track to become the worst governor in the country. His solution to the Illinois debt crisis is not to cut spending but the raise tax rates by 67%.
Would like to know the percentage of government money in Illinois goes for graft, corruption and just paying off the machine?
The Federal Reserve System doen’s print money. The Treasury Department does. As far as I know the Fed has never purchased anything but Treasury bonds in their open market efforts. They really don’t have a charter to bail out IL. It’s not their gig.
I expect even Soros will run and hide from this one. Buying them would just be a signal to IL to continue down the path.
Damn glad we moved the meat packing out of there. I like a good steak.
Bump.
That would make a great infiltration sign for further
union protests.
Save the Unions!!
It’s like making your minimum Visa payment
with a cash advance on your Master Card!
1. How much for a roll of 100?
2. Are they squeezably soft?
Um, all ‘dollars’ are Federal Reserve, Inc, printed. That paper in your wallet are, and it is printed right on top, “Federal Reserve Note”.
The Federal Reserve, Inc. notes are printed at the US Treasury. ( This way the private Fed can not just print all the money it wants with out the Treasury knowing about it since they are the contracting printer. Which is prudent. )
The way around the bailout is that Fedgov bailout the ...who ever. They print up some different wood pulp paper, called Treasury bonds, and the Federal Reserve orders up some Federal Reserve Notes printed up, and exchanges their paper for the Treasury paper. Presto, 800 billion, trillion...what ever they want.
Personally, gut feeling, we got a long ways to go in debt/financial shenanigans. Fedgov is approaching 100% GDP debt. Japan is hanging in there, poorly, at 200% GDP. The thing is, it becomes like a steel cable holding ever so much weight, or a thousand miles of upright dominoes. With certainty, something will cause the failure. Since the failure of Continental Illinois, the Savings and Loan, the fails have been coming faster, bigger, more suddenly with each supposed ‘fix’.
Best steak I ever had was in Bob Dole’s hometown, Russel KS. I like a NY strip, or London Broil. I go for flavor over tenderness. Still waiting for what I read as a ‘Pittsburgh’. Cast iron skillet, red hot, steak seared black on both sides then rested for a bit. Red inside like a blast furnace.
The Fed isn’t in the business of buying municipal bonds. They can incentive others to do so, however — and that is at least as dubious and questionable a practice. The problem is (if you read the article) that there is an implicit fed guarantee and the interest premium is artificial which distorts the market — it effectively bullies or seduces the market to finance risky investments.
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