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| User Info | Another factor in declining standard of living.; entered at 2007-12-02 18:07:29 | |||
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Guydaley Posts: 15260 Registered: 2007-07-10 Wyoming only ATM 
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These bonds are paid off in a variety of different ways. Sometimes special assessments on property, sometimes GOBS of extra taxes on car rentals and so forth. But if consumerism is coming to a swift death, there is no reason to expect the cash flow to continue or increase from these sources, therefore higher risk, therefore higher interest rates. Bubble states in particular are going to be hard hit. California will refuse to cut back as much as they need to on spending and will try to borrow, just like Uncle Sam. They won't end well either. 2007-12-02 18:07:29
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