What, NO LSU Football?
- Thread starter Hedgerunner
- Start date
I agree. At the same time, highlights the challenges state governments are facing. Politicians don't want to talk about "the elephant in the room." They want to be re-elected. There are a financial issues that state, and our federal government, need to address.
Louisiana is not a municipality, but the problems, especially in oil-producing states, are real with oil free falling in price. These states have to be aware of the boom and bust nature of oil and plan accordingly. It was like that when I lived in Oklahoma. Kentucky has already been hit, first with tobacco and then coal, and Mr. Obama hasn't finished yet in destroying the latter. OTOH, some states and cities are doing well. It comes down to management of money and expectations, and the discipline to say no.
Strictly speaking, but as an example, states issue municipal bonds. The point is that state and local governments throughout this country are in trouble. And it's not confined to the oil producing states. Easy money, inflated markets and economic activity have masked a lot of ills...
