|
|
|
|
|
#1
08-02-2012, 01:12 PM
|
||||
|
||||
|
Another US city bankrupt.
San Bernardino files for bankruptcy - CNN.com
you can kiss those muni bonds interest goodbye among other things.
__________________
Ben 1987 190d 2.5Turbo 
|
|
#2
08-02-2012, 01:26 PM
|
||||
|
||||
|
More and more municipalities are learning what we in business have always known. When you repeatedly spend more than you make, bad stuff happens.
Many states are just kicking the proverbial can down the road, the federal govt. dismisses the concept completely.
__________________
 1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15 '06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)
|
|
#3
08-02-2012, 02:38 PM
|
|||
|
|||
|
Quote:
Yep, you have to take in at least as much money that goes out. Funny how it works that way. With $16T in national debt, unless checked, socialism will put the US in the same boat as San Bernardino and much quicker than most people think.
__________________
2001 SLK 320 six speed manual 2014 Porsche Cayenne six speed manual Annoy a Liberal, Read the Constitution
|
|
#4
08-02-2012, 03:50 PM
|
|||
|
|||
|
Look out Greece, here comes the US!
|
|
#5
08-02-2012, 04:00 PM
|
||||
|
||||
|
this is my long term prediction- laugh if you want.
sometime in the future, the US will abandon the dollar and move to a new currency. a new currency will be in the form of a new partnership with Canada and Mexico. Nafta already started the ball rolling. all the old debts (the T bonds) will be renegotiated (read: devalued like your airline miles when they raise the amount of miles needed for a ticket). deficit problem solved! The catalyst for all this will be the refusal of foreigners (particularly China) to keep buying the TBonds. Basically the government will be unable to finance or roll the old debt so they have to do something drastic but all they are doing is kicking the can down a new road since the old one was a dead end. I feel sorry for my kids most of all. They will live in a world where they will compete for jobs with Mexicans who are willing to assemble a Volkswagen Passat for much less than they will. My kids will, however, will want to buy that Passat yet the same Mexicans will not want what my kids produce because they can get it cheaper from China. Oh wait, that is happening now!
__________________
Ben 1987 190d 2.5Turbo
|
 |
| Bookmarks |
|
|
Linear Mode
