Oracle of Utah
Truth rings hollow in empty heads.
http://www.nytimes.com/2010/12/05/us...pagewanted=allThe State of Illinois is still paying off billions in bills that it got from schools and social service providers last year. Arizona recently stopped paying for certain organ transplants for people in its Medicaid program. States are releasing prisoners early, more to cut expenses than to reward good behavior. And in Newark, the city laid off 13 percent of its police officers last week.
While next year could be even worse, there are bigger, longer-term risks, financial analysts say. Their fear is that even when the economy recovers, the shortfalls will not disappear, because many state and local governments have so much debt — several trillion dollars’ worth, with much of it off the books and largely hidden from view — that it could overwhelm them in the next few years.
actually you might want to avoid the very long times story, like tolstoy's ivan illyich it might tell more than anyone would want to know
but it's all about accounting and pensions and credit ratings and stimulus running out and how post recessions hit states...
there's a theme thru walsh's and cooper's piece---subprime accounting techniques
as for the SEVEN TRILLION DOLLARS of debt our various states and city municipals are facing, you need to know that the adults in the new republican majority, this time led by devin nunes, backed by ryan and issa, are moving to stop states from sellling bonds without first divulging to treasury the status specifically of their pension obligations
it was on fox, there aren't any links yet
and don't expect a bailout from boehner's broads and boys, sacto
contrast the level headed professionalism of the boehner brigades with the headless chicken imitation daily displayed by the party STILL in power
House Dems head to W.H. upset over taxes - Jake Sherman and Jonathan Allen - POLITICO.com
Extension deal taxes Dems' patience - Josh Gerstein - POLITICO.com
did you hear about the TWO more investigations of charlie who only a few months ago was STILL sitting chair of ways and means, the most powerful seat in the city?
did you hear the waters investigation just might be reaching out to entangle barney frank?
are you sure these obamites and ex obamites know what they're doing?
either way, party on
For example, if GM failed, then all the connections and degree centrality built over the course of generations would go up on smoke. That gives foreign competitors a unique opportunity to step in where no American company can, and dominate the car market (both here and in other countries) indefinitely as a result.
Replacing corporations is relatively easy in a captialisitc market, replacing their connections, reputation, and other resources is not nearly as easy.
Last edited by Morality Games; 12-06-10 at 05:33 PM.
If you notice something good in yourself, give credit to God, not to yourself, but be certain the evil you commit is always your own and yours to acknowledge.