Blue State Corruption
Red state/Blue state maps after November 2
Even the NY Times sees that "Blue States" are on the edge of a cliff, that many will see horrendous economic hardship in the very near future, states like California, Illinois, and New York. Debt derived from "compassionate" spending is a very real threat and there is a time to pay the piper.
Everyone knows individuals who do not handle their resources wisely. They will spend like there is no tomorrow and help forestall the inevitable by refinancing repeatedly. At some point there is no more wiggle room and bankruptcy/foreclosure comes home to roost. That is where the "Blue states" are. They have bought into the idea that you can spend your way out of reversals and that huge bond obligations can be put off indefinitely. With lower than expected income and huge growing debt they'll have no other way out than to declare insolvency... yikes! Didn't all those spend liberals geniuses in Sacramento see this coming? The hardest hit are the bluest of states, states with a majority of brilliant liberal financial planners assembled as their form of government.
Most "Blue state" elected officials view the events that surrounded the Wall Street collapses and bail outs as criminal activity by unscrupulous bond traders, CEOs and investors. Their question, "How could financial professionals not see the obvious unless they are inherently criminal?" My question, "How could state financial professionals not see the obvious unless they are inherently corrupt?'
Bobzhuman...
