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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (39)	2/15/2004 10:50:36 PM
From: Chispas	Read Replies (1) \| Respond to of 116555

Mish, I'm curious... For California to roll over $14 billion debt in June, and they will, where will all that junk finally show up on the balance sheets in the financial world ?? I have no idea....

To: mishedlo who wrote (39)	2/16/2004 12:02:30 PM
From: Jim Willie CB	Respond to of 116555

Calif will make ALL the wrong decisions Gov Ahnalt will be forced to make draconian cuts THEN HE WILL BE HATED they so far are showing signs of rolling over the debts to crippled future years and their budgets since the economic recovery is pathetic, with poor income results, this means poor tax receipts Sacramento will NOT make huge spending cuts that are necessary this will come down to the Governator making big cuts then he will be hated, just as I said last autumn no strong will no deep resolve no tough decisions no action necessary crisis coming, with bond downgrade, higher borrowing costs, big big bigtime layoffs / jim