Rhein on Energy and Climate

Archives for fiscal insolvency

The Unthinkable has happened. California, the biggest US state, had to declare insolvency and a state of fiscal insolvency. As of July 1st, it will have to pay in newly emitted treasury bills. Its public debt will rise by another $ 26 billion in fiscal year 2009. Governor Schwarzenegger had desperately tried to convince, first… » read more

Posted by Eberhard Rhein