Things are bad for a household when it to start divesting itself of some of its goods for cash in order to make its basic financial obligations, like mortgage payments, gas and electricity. But it does happen and sometimes all that is needed to return to solvency is a quick jolt of ready cash to get over the hump. Hell, when I was younger I had to do the same thing… I was a full-time student with a little kid and had to sell some cool paper money that I had collected. But it needed to be done and I did it.
However, it’s a bit of a different story when an entire state of 30-odd million folks has to draw down its capital to do the same. Bu that is exactly what is happening in Arnie-land. The state of California is having a massive sale of state assets in order to raise cash to pay down its debt!
Eh? Shurely you jest!
Uh-uh…
Gee, I knew that they were strapped for cash, but man – this is a sign of desperation! I guess that’s what you have to do when you are constitutionally forbidden to raise taxes!
No word on whether or not Arnie is telling purchasers that they…
(wait for it…)
Can’t bring it baaaack…
(995)
Hey XUP. I’m experimenting with different themes… not happy with this one so I’m sure you’ll see another soon.
Nothing wrong with selling surplus stuff… but knowing the state’s financial situation (it sucks) the sale just smacks of desperation.
Crazy new layout. Tiny white writing on a black background and grey on grey comments section. Interesting choice. So, why is it such a bad idea to sell of surplus State stuff? I’m surprised they only have a million so far, though – that’s not going to last long.