I'm voting for Bill Simon because he's an expert on matters of money. He has created and saved thousands of jobs, and obviously knows what he's doing because his business is going well! He's the only Republican candidate who has a plan for getting California out of the financial disaster Gray Davis got us in to.
It also helps that Simon is conservative across the board, but right now California needs his financial acumen. And I really like how he said "I will not raise your taxes" and is endorsed by the Howard Jarvis Taxpayers Association.
Liberals are so incapable of envisioning the ultimate evil of socialism that only the actual collapse of a 'progressive' state would sway any of them to understanding.
Although, I can't imagine that more that 5% of them would have the political brains enough to understand that it was liberalism that led to the fiscal collapse.
Still, suffering is the best teacher.
Maybe we'll see a repeat of NY's troubles in the 70s.
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And all this because of Enron. Imagine that.
Wall Street doesn't play by the same rules that California politicians play by.
A Past Article on Moody's Rating of California Debt Obligations
I would like to quote from the previous Moody's report:
However, we expect any budgetary reductions of this magnitude will lead to protracted legislative debate, potentially extending into next summer. And differing opinions as to the timing and strength of the economic recovery may further complicate legislative efforts to resolve this imbalance, as will the upcoming elections in 2002. If the deficit for the upcoming year reaches $8 billion as both the Administration and the LAO estimate, the state may be hard pressed to eliminate this gap solely through expenditure reductions.
Watching the Politicians and Wall Street this year should be great sport. Wall Street has already told Sacramento that they will need to raise taxes. The Democrats in Sacramento do not want to do that in an election year. Wall Street has said, time for tough love! It will be fun to watch the showdown between Wall Street and the Democrats during an election season!
Rating agencies downgraded California's credit rating during the energy crisis last year. State officials will meet with executives of rating agencies this week in an effort to assuage concerns about the state's credit-worthiness.
So what are the "state officials" going to say that will make the credit rating agencies feel the state is "credit-worthy?"
Will the rating agencies, based on new information from State Officials, feel compelled to revise the California Credit rating next week (downward)? From a liability to investor lawsuit standpoint, if the rating agencies hear anything really bad, they will need report those facts to the investment community and provide a warning to potential bond holders.
I have been on trips to investment rating firms as a public official and can say that, one needs to be extraordinaryily careful and thoughtful in what one says. Next week should be very, very interesting. These kinds of stories will lead to direct rating agency questions. I hope the Dem's have their stories straight for the rating agencies.
In reality, Davis is either fiscally stupid or utterly corrupt. I suspect it's a lot of both.
Davis and his mirror image, enviral anti business governors in Oregon and Washington have driven these 3 states to bankruptcy in the past few years.
These enviral hand puppets hate capitalism, farming, ranching, logging and any industry that provides a product that we need in real life! Their anti business rhetoric and behavior drives business from their states. When a business leaves, tax inflow from these businesses disappears.
One of the reasons why we didn't go total blackout last year, was the massive failures of businesses in California last year or massive down sizing of businesses. If your business closes or cuts production 50% or more, a lot less electricity is used! No one wants to address this factor.
The lack of blackouts due to business failures and downsizing has a two edged sword. If these businesses are not contributing money into the state funds, then there is less money to spend. Also, tax paying employees, often go on the government dole when their company goes out of business, leaves the state or downsizes them. Instead of sending tax $'s to Sacramento, they take tax $'s to exist.
The left wing maggots in charge of the perverted legislature did not decrease their spending for their perverted voting cults. The cults which are dependent on our tax $'s for their survival.
So like the power crisis where we did not produce enough electricity to meet demand until massive business failures. The tax $'s flowing into Sacramento have dropped like lead dodos while spending on the perverted dark sides has increased. So in typical left wing fashion, the maggots in the legislature and Davis have spent more that was coming in. Now we are reaching the bottom line of a busted state like Oregon and Washington will be.
Wall Street people and the Bond people are not demonicRat cult members. They look at Davis and his maggots in the legislature as tax and spend demonicRats who are anti business. The bond ratings have dropped and will drop more!
Of course Davis wh$res who control the LA Slimes and the SF Gayrhonicle will continue to lie about how great Davis is. They know that 90% of Davis's voters can't even spell B-O-N-D-S, let understand why the ratings will crash and few if any buyers will appear.
Go to this link for more on the Oregon situation, (Oregon's enviral governor who hates capitalism seeking higher taxes to pay for Oregon's new third world economy!)