Hi All,
This just in. California may begin issuing IOUs to companies doing business with the state (LATimes).
This is bad news. It means the state government doesn’t have any cash. They are not operating on the same terms as private business.
If you are considering buying state issued California bonds, I’d think twice about it. They may not have the money to pay you.
Best,
James
James & Miel are originally from Oregon, and are both gainfully employed professionals. James works internationally in survey research, and Miel currently works in international development & relief in Africa.
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