On 07/11/2012 08:48 PM, DhiaDuit wrote:
Some California cities may cease to exist. www.drudgereport.com Doggy and I have to watch Movin' On at 11:00 PM.



Not true. What they are doing is reorganizing their debts, mainly
pensions which were largely defunded by the banker induced collapse of
the equities markets back in 2007.

Interesting, Fox News is mocking planners for assuming an 8% annual
return on the stock market. This was the historical average return on
equities from the late 1930s to about 2000, when Clinton et al
simplified rules and Bush went nuts on steroids. Now the average annual
return is less than half of what it was during regulation.