with 21% of homes in foreclousure in
state of california
and banks like countrywide
who do not hold escrow for local tax
how would state get revenues
to pay their employees?
Ben
----- Original Message -----
Sent: Saturday, August 02, 2008 7:54
PM
Subject: Re: [RT] Re: [TimeandCycles]
The Great Bear has just begun
I wish we could credit it to the govenor but it is the operation of
law. Our govenator continues to be a disappointment.
As to Ben's forecast of possible public debt default, the State
Controller says that is not going to happen if a budget is passed in the
next several months. Large as the State of California debt service is, the
payroll load is far far far larger and those savings insure adequate
liquidity to continue making debt payments.
Boater8095
At
02:12 PM 8/2/2008, you wrote:
I take it as good news that
California is showing a little fiscal responsibility and tring to cut
expenses as they face lower tax revenues. Had they done nothing
and begun to face defaults then *that* would be *bad* news indeed.
Bob
On 8/2/08, Ben <profitok@xxxxxxxxxxnet
> wrote:
- everything is REALLY bad
- all employees of california state recieved a letter telling them
not to come to work monday
- and, if they do
- they only get min wage!!!
- mkt should come hard down with this news
- ----- Original Message -----
No virus found in this incoming message.
Checked by AVG -
http://www.avg.com
Version: 8.0.138 / Virus Database: 270.5.10/1586 - Release Date: 8/1/2008
6:59 PM