Tuesday, December 6, 2016

Bernanke and California politics created the current crisis

California nearly did the belly up, and the huge swing in public sector employment scared Ben, and he found a way to buy time for Cal pensions.  But in the process, he tied all the pensions together nationally until today, when everyone from Texas to Kentucky will want their fair share.

LA got get a crisis real soon, they have no room in  the budget for any more jerking around by the Swamp.  The only viable relationship for the LA county board and Congress is "What to do about pensions", and that is the dominant theme left to us by Ben and his systematic crisis.  Now add Texas to the list of Magic Walrus delusionals, they took the bait and went all funny with the pension obligation bonds, as  did many other local governments around the economy.

All the mayors, San Diego, Housyon, Dallas, LA, Chicago, da Blowsio in NYC, they all know they are very screwed and they all gonna look for the hat trick in the Swamp trick.

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