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From: Michael on 29 Apr 2010 19:31 On Apr 29, 4:28 am, "TheM" <DontNeedS...(a)test.com> wrote: > >"Michael" <mrdarr...(a)gmail.com> wrote in message news:f4d5b530-1b2b-4fb8-b8a7- > > >California's bond ratings are rock solid in comparison... > >http://www.treasurer.ca.gov/ratings/history.asp > > >Shocking. > > >Michael > > But California is even deeper in debts, 200% their BDP is it? > > M Some $50 billion at last count. BDP... what's that? The GSP is something like $2 trillion... can that be right? Seems kind of high...
From: Michael on 29 Apr 2010 19:31 On Apr 29, 2:11 am, Martin Brown <|||newspam...(a)nezumi.demon.co.uk> wrote: > John Larkin wrote: > >http://apnews.myway.com/article/20100428/D9FC0ES80.html > > > Europe has an interesting dynamic. Multiple countries share a > > currency. So if one country, especially a small one, decides to spend > > more than they have, the other, presumably more prudent countries, > > wind up paying for it. > > Greece should never have been allowed into the Euro in the first place. > Their books were seriously cooked to qualify. Now the chickens come home > to roost - looks like Germany will be footing the bill. And Germany doesn't mind? Michael
From: krw on 29 Apr 2010 21:21 On Thu, 29 Apr 2010 16:31:05 -0700 (PDT), Michael <mrdarrett(a)gmail.com> wrote: >On Apr 29, 4:28�am, "TheM" <DontNeedS...(a)test.com> wrote: >> >"Michael" <mrdarr...(a)gmail.com> wrote in message news:f4d5b530-1b2b-4fb8-b8a7- >> >> >California's bond ratings are rock solid in comparison... >> >http://www.treasurer.ca.gov/ratings/history.asp >> >> >Shocking. >> >> >Michael >> >> But California is even deeper in debts, 200% their BDP is it? >> >> M > > >Some $50 billion at last count. That's the budget deficit, this year. The unfunded debt is much higher. >BDP... what's that? The GSP is something like $2 trillion... can that >be right? Seems kind of high... CA is something like 15% of the GDP, so that's about right. Their unfunded obligations closer to $500B to $700B, or so it's reported.
From: dagmargoodboat on 29 Apr 2010 22:57 On Apr 28, 11:00 am, John Larkin <jjlar...(a)highNOTlandTHIStechnologyPART.com> wrote: > http://apnews.myway.com/article/20100428/D9FC0ES80.html > > Europe has an interesting dynamic. Multiple countries share a > currency. So if one country, especially a small one, decides to spend > more than they have, the other, presumably more prudent countries, > wind up paying for it. > > In a single country with a single currency like the US, if we spend > more than we have, we'll print money to cover it, and everybody in all > the 50 states shares in the resulting inflation. I wrote a couple weeks ago that Bernanke swears he absolutely will not monetize (print money to pay) the debt. I met a BLS economist. He says that, in fact, is what Bernanke's doing. Me? Dunno. That sure would be ugly. -- Cheers, James Arthur
From: John Larkin on 29 Apr 2010 23:16
On Thu, 29 Apr 2010 19:57:05 -0700 (PDT), dagmargoodboat(a)yahoo.com wrote: >On Apr 28, 11:00�am, John Larkin ><jjlar...(a)highNOTlandTHIStechnologyPART.com> wrote: >> http://apnews.myway.com/article/20100428/D9FC0ES80.html >> >> Europe has an interesting dynamic. Multiple countries share a >> currency. So if one country, especially a small one, decides to spend >> more than they have, the other, presumably more prudent countries, >> wind up paying for it. >> >> In a single country with a single currency like the US, if we spend >> more than we have, we'll print money to cover it, and everybody in all >> the 50 states shares in the resulting inflation. > >I wrote a couple weeks ago that Bernanke swears he absolutely will not >monetize (print money to pay) the debt. Well, somebody sure will. John |