Article

2010-11-15 Economy

CA thinks it's going to sell $14B of muni bonds

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Posted by gorb 2010-11-15 00:00|| || Front Page|| [11126 views ] Top

#1 California will be in a world of hurt within two years. First of all, the taxpayers in the rest of the states are going to tire of sending California $40 million *per day* to fund California's unemployment compensation. I think the House is going to put the clampdown on federal cash infusions to California and force it to live within its means.

Posted by crosspatch 2010-11-15 03:54|| 2010-11-15 03:54|| Front Page Top

#2 Why do I suspect that most of these will be secretly bought by the FED?

Posted by Anonymoose 2010-11-15 08:43|| 2010-11-15 08:43|| Front Page Top

#3 California is operating on the P.T. Barnum philosophy: "There's a sucker born every minute."

Posted by rwv 2010-11-15 10:42|| 2010-11-15 10:42|| Front Page Top

#4 California will be in a world of hurt in 6 months when state income tax refunds are not forth coming and people start increasing their state withholding deductions to 99.

Posted by Nimble Spemble 2010-11-15 10:48|| 2010-11-15 10:48|| Front Page Top

#5 The patient is dead, but it just refuses to acknowledge it.

Posted by Alaska Paul 2010-11-15 12:41|| 2010-11-15 12:41|| Front Page Top

#6 This hit the bond market like a brick, today. It drove even the gold plated USAA long term muni bond down 12 cents, which is a huge drop in a tax free bond.

Posted by Anonymoose 2010-11-15 19:16|| 2010-11-15 19:16|| Front Page Top

#7 California has been touting their bonds in heavy-rotation radio ads. The only angle not flogged was patriotism.

Posted by Pappy 2010-11-15 21:39|| 2010-11-15 21:39|| Front Page Top

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