Meredith Whitney is a "TRUE G "
- Thread starter NY_HOOD
- Start date
More Fear!! 50 defaults out of tens of thousands of issuance. O M G ! What happened to the predictions last year of the great CRE collapse that was suppose to happen this year?
Anyone who doesn't think that states and municipalities are on the brink of collapse, ought to have their heads examined. Christie told it like it is, and the situation is prevalent for many states including CA, IL, NJ, NY, etc.
How will this all play out in the short-run, remains to be seen. State tax revenues are way down; medicaid, education, and pension costs are skyrocketing. These unfunded pension liabilities are the biggest concern of all. There is no question that there will be major defaults happening, UNLESS old Uncle Sam decides to print more money and bail all of these state and local municipalities out again. If the Federal government decides against this (and with anti-union Republicans now in charge in the House, this is a possibility), then look for the municipal bond market to implode, and states to default left and right. Things could get very ugly.
Of course, if the Federal govt comes to the rescue again, we have our continuance of "let's play Kick the Can" again, and we will be deferring the GIANT implosion for a couple of more years.
How will this all play out in the short-run, remains to be seen. State tax revenues are way down; medicaid, education, and pension costs are skyrocketing. These unfunded pension liabilities are the biggest concern of all. There is no question that there will be major defaults happening, UNLESS old Uncle Sam decides to print more money and bail all of these state and local municipalities out again. If the Federal government decides against this (and with anti-union Republicans now in charge in the House, this is a possibility), then look for the municipal bond market to implode, and states to default left and right. Things could get very ugly.
Of course, if the Federal govt comes to the rescue again, we have our continuance of "let's play Kick the Can" again, and we will be deferring the GIANT implosion for a couple of more years.
You are a true idiot that you are actually proud of that. I just wanted to let you know that, "gangsta". (and just because you know how to spell something wrong on purpose, doesnt make you smart, or cool or anything like that)
Let me tell you that in the social order of the world, thugs, "gangsta's" and inmates are all on the bottom of the totum pole, right below homeless bums & hookers as far as society respects people.
But certainly nowhere NEAR as low as Tele-Evangelists and Politicians??
Hookers and bums are at least honest!
December 21, 2010
SouthAmerica: What Meredith Whitney said is nothing new - The Economist magazine had an article about that subject a few weeks ago.
Anyway, I find Meredith Whitney to be a very attractive woman - She's very pretty!
http://www.businessinsider.com/60-minutes-on-state-budgets-2010-12?sailthru_m=h2a
*****
By the way, I have been discussing this subject for a long time on the Elite Trader Economics Forum - The problem with the US states it's a problem no different than what has been going on in Euroland with Greece, Ireland, Portugal, Italy and Spain.
And we have been discussing this subject for on long time on the "Central Banks and US dollar" thread.
.
SouthAmerica: What Meredith Whitney said is nothing new - The Economist magazine had an article about that subject a few weeks ago.
Anyway, I find Meredith Whitney to be a very attractive woman - She's very pretty!
http://www.businessinsider.com/60-minutes-on-state-budgets-2010-12?sailthru_m=h2a
*****
By the way, I have been discussing this subject for a long time on the Elite Trader Economics Forum - The problem with the US states it's a problem no different than what has been going on in Euroland with Greece, Ireland, Portugal, Italy and Spain.
And we have been discussing this subject for on long time on the "Central Banks and US dollar" thread.
.