California, Once Compared to Greece, Is Now Trading Better Than AAA

[ScienceRocks]

California, Once Compared to Greece, Is Now Trading Better Than AAA

Seven years ago, California was “the next Greece." Today, the state’s bonds are trading better than AAA.
As the Golden State benefits from record-breaking stock prices, Silicon Valley’s boom and a resurgent real estate market, demand for tax-exempt debt in the state with the highest top income tax rate in the U.S. is “insatiable," said Nicholos Venditti, a portfolio manager for Thornburg Investment Management. Spreads are so tight that Venditti has stopped buying California bonds for his national fund.

“They’ve gone to a level that just seems ridiculous," Venditti said. “It just seems unsustainable for any long period of time."

Jerry Brown is kicking ass!

 

[fncceo]

I would trade California to anyone for this ...

 

[Moonglow]

AAA- that is...

 

[JGalt]

I hate to be the one to piss in your momma's cornbread, but too little too late. California is still facing $234 Billion in unfunded pension liabilities. Not quite Greece, but getting there...

Bull? Stocks can’t stave off California pension crisis forever – Orange County Register

 

[Moonglow]

I would trade California to anyone for this ...

I wouldn't, it's not framed..

 

[westwall]

I hate to be the one to piss in your momma's cornbread, but too little too late. California is still facing $234 Billion in unfunded pension liabilities. Not quite Greece, but getting there...

Bull? Stocks can’t stave off California pension crisis forever – Orange County Register

That's the problem with matthew and his buddies, they believe the bull poo but clearly don't understand the real world. And won't right up until it bites them in the ass.

 

[Moonglow]

I hate to be the one to piss in your momma's cornbread, but too little too late. California is still facing $234 Billion in unfunded pension liabilities. Not quite Greece, but getting there...

Bull? Stocks can’t stave off California pension crisis forever – Orange County Register

Guess what, the pensions for companies that are backed by the US govt. runs into the trillions....Thanks Boosh jr! The low interest rates have suppressed earnings on invested pension funds and they can't keep up with increased cost..Thanks to Oblama!! Get ready to reap the whirlwind with corporate socialism...The dollar is down 9% since Trumpet took office...

 

[JGalt]

I hate to be the one to piss in your momma's cornbread, but too little too late. California is still facing $234 Billion in unfunded pension liabilities. Not quite Greece, but getting there...

Bull? Stocks can’t stave off California pension crisis forever – Orange County Register

Guess what, the pensions for companies that are backed by the US govt. runs into the trillions....Thanks Boosh jr! The low interest rates have suppressed earnings on invested pension funds and they can't keep up with increased cost..Thanks to Oblama!! Get ready to reap the whirlwind with corporate socialism...The dollar is down 9% since Trumpet took office...

You're whistling past the graveyard. California will eventually become America's own version of Venezuela. If you're unlucky enough to live there, I'll say ya'll have made some really stupid economic, social, political, and environmental choices over the last few decades. Get the hell out of there while you still can.

 

[whitehall]

Pot head Jerry? California like every other state benefits from an upsurge in the DOW. Trump is kicking ass.

 

[fncceo]

I hate to be the one to piss in your momma's cornbread, but too little too late. California is still facing $234 Billion in unfunded pension liabilities. Not quite Greece, but getting there...

Bull? Stocks can’t stave off California pension crisis forever – Orange County Register

Guess what, the pensions for companies that are backed by the US govt. runs into the trillions....Thanks Boosh jr! The low interest rates have suppressed earnings on invested pension funds and they can't keep up with increased cost..Thanks to Oblama!! Get ready to reap the whirlwind with corporate socialism...The dollar is down 9% since Trumpet took office...

You're whistling past the graveyard. California will eventually become America's own version of Venezuela. If you're unlucky enough to live there, I'll say ya'll have made some really stupid economic, social, political, and environmental choices over the last few decades. Get the hell out of there while you still can.

That won't happen. Because California, as long as it remains part of the US, will suck the other states dry to feed its insatiable debt. The state wields 50 electoral votes and no one dare refuse it.

When California does go under, it will take the other states with it.

 

[JGalt]

Here's another kicker...

"California government employees see pension cuts of 60%"

Cussins, 56, believed his city pension and the Social Security payments he and his wife received would bring in enough to provide a decent retirement in the tiny, old timber mill town in the Sierra Valley.

Then a letter arrived in October. The California Public Employees’ Retirement System was cutting his $2,500-a-month pension by 60 percent, bringing it to about $1,000 a month.

“I was really shocked when I found out about it,” Cussins said. “We thought the pensions were there for the rest of our lives.”

This tiny Sierra Valley town voted to pull out of CalPERS. Now city retirees are seeing their pensions slashed

Get the hell out while you can. Pack your shit, leave, and don't turn around to look back.

 

[JGalt]

I hate to be the one to piss in your momma's cornbread, but too little too late. California is still facing $234 Billion in unfunded pension liabilities. Not quite Greece, but getting there...

Bull? Stocks can’t stave off California pension crisis forever – Orange County Register

Guess what, the pensions for companies that are backed by the US govt. runs into the trillions....Thanks Boosh jr! The low interest rates have suppressed earnings on invested pension funds and they can't keep up with increased cost..Thanks to Oblama!! Get ready to reap the whirlwind with corporate socialism...The dollar is down 9% since Trumpet took office...

You're whistling past the graveyard. California will eventually become America's own version of Venezuela. If you're unlucky enough to live there, I'll say ya'll have made some really stupid economic, social, political, and environmental choices over the last few decades. Get the hell out of there while you still can.

That won't happen. Because California, as long as it remains part of the US, will suck the other states dry to feed its insatiable debt. The state wields 50 electoral votes and no one dare refuse it.

When California does go under, it will take the other states with it.

Sponge off the other states, or the Fed? I'm not sure I understand how other states will bail them out.

 

[Moonglow]

I hate to be the one to piss in your momma's cornbread, but too little too late. California is still facing $234 Billion in unfunded pension liabilities. Not quite Greece, but getting there...

Bull? Stocks can’t stave off California pension crisis forever – Orange County Register

Guess what, the pensions for companies that are backed by the US govt. runs into the trillions....Thanks Boosh jr! The low interest rates have suppressed earnings on invested pension funds and they can't keep up with increased cost..Thanks to Oblama!! Get ready to reap the whirlwind with corporate socialism...The dollar is down 9% since Trumpet took office...

You're whistling past the graveyard. California will eventually become America's own version of Venezuela. If you're unlucky enough to live there, I'll say ya'll have made some really stupid economic, social, political, and environmental choices over the last few decades. Get the hell out of there while you still can.

No, California will screw the pensioners..Not the first time in history it's happened...

 

[JGalt]

I hate to be the one to piss in your momma's cornbread, but too little too late. California is still facing $234 Billion in unfunded pension liabilities. Not quite Greece, but getting there...

Bull? Stocks can’t stave off California pension crisis forever – Orange County Register

Guess what, the pensions for companies that are backed by the US govt. runs into the trillions....Thanks Boosh jr! The low interest rates have suppressed earnings on invested pension funds and they can't keep up with increased cost..Thanks to Oblama!! Get ready to reap the whirlwind with corporate socialism...The dollar is down 9% since Trumpet took office...

You're whistling past the graveyard. California will eventually become America's own version of Venezuela. If you're unlucky enough to live there, I'll say ya'll have made some really stupid economic, social, political, and environmental choices over the last few decades. Get the hell out of there while you still can.

No, California will screw the pensioners..Not the first time in history it's happened...

Kinda sad in a way. They worked all their lives and are getting screwed because CALPERS invested in things that are politically-correct and financially irresponsible.

 

[jon_berzerk]

I hate to be the one to piss in your momma's cornbread, but too little too late. California is still facing $234 Billion in unfunded pension liabilities. Not quite Greece, but getting there...

Bull? Stocks can’t stave off California pension crisis forever – Orange County Register

Guess what, the pensions for companies that are backed by the US govt. runs into the trillions....Thanks Boosh jr! The low interest rates have suppressed earnings on invested pension funds and they can't keep up with increased cost..Thanks to Oblama!! Get ready to reap the whirlwind with corporate socialism...The dollar is down 9% since Trumpet took office...

You're whistling past the graveyard. California will eventually become America's own version of Venezuela. If you're unlucky enough to live there, I'll say ya'll have made some really stupid economic, social, political, and environmental choices over the last few decades. Get the hell out of there while you still can.

That won't happen. Because California, as long as it remains part of the US, will suck the other states dry to feed its insatiable debt. The state wields 50 electoral votes and no one dare refuse it.

When California does go under, it will take the other states with it.

Sponge off the other states, or the Fed? I'm not sure I understand how other states will bail them out.

through the fed

 

[Moonglow]

I hate to be the one to piss in your momma's cornbread, but too little too late. California is still facing $234 Billion in unfunded pension liabilities. Not quite Greece, but getting there...

Bull? Stocks can’t stave off California pension crisis forever – Orange County Register

Guess what, the pensions for companies that are backed by the US govt. runs into the trillions....Thanks Boosh jr! The low interest rates have suppressed earnings on invested pension funds and they can't keep up with increased cost..Thanks to Oblama!! Get ready to reap the whirlwind with corporate socialism...The dollar is down 9% since Trumpet took office...

You're whistling past the graveyard. California will eventually become America's own version of Venezuela. If you're unlucky enough to live there, I'll say ya'll have made some really stupid economic, social, political, and environmental choices over the last few decades. Get the hell out of there while you still can.

No, California will screw the pensioners..Not the first time in history it's happened...

Kinda sad in a way. They worked all their lives and are getting screwed because CALPERS invested in things that are politically-correct and financially irresponsible.

Shit happens, my Ma in law lost hers when the crash came in 2008. It had been invested in a local construction company..

 

[BluesLegend]

President Trump saved California awesome good job Trump

 

[JGalt]

President Trump saved California awesome good job Trump

They'll never admit it. Trump is still "da debbil."

 

[Avatar4321]

I would trade California to anyone for this ...

If you get Congress to authorize it I'll take that deal

 

[JGalt]

I would trade California to anyone for this ...

Do they even take American money any more? You might check and see if there's a currency exchange in your neighborhood..