Tuesday, October 11, 2011

CA: Ground Zero for Muni Bond Crash

An interesting synopsis here of a longer Vanity Fair piece on what at least one authority believes to be another potential economic catastrophe: The crash in the municipal bond markets. He thinks California will take the brunt of it. That certainly wouldn't surprise me.

The Vanity Fair article itself is lengthy and a bit beyond the capacity of my attention span. I still haven't gotten to the part where the muni bond collapse is discussed.

I did find the first couple pages entertaining, though. The author describes meeting The Governator and joining him on a crime filled bike ride through the streets of Santa Monica while they discuss the state of The State. I thought that was a fun read just by itself.


At 12:33 PM, Anonymous Dung Beetle said...

Fred, how about you go back and read the article and then post on your blog. You know, in that order.

At 1:13 PM, Blogger Fred said...

The first few pages are a good enough read all by themselves. I'll get to the rest later.

At 5:11 PM, Anonymous grackle said...

I got your back, Fred. Whole article synopsis: we humans don't look ahead too well, do things and acquire things just because we can, without thought about others, in a sort of dream of endless abundence, and then when we have become overextended, we don't always have very many options. Firefighters, however, often have that job because they like to help people (anecdotal evidence only.)


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