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 Los Angeles Banruptcy Simualcrum

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They Live

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PostSubject: Los Angeles Banruptcy Simualcrum   Sat 13 Feb 2010, 5:51 pm

LA Teeters on Bankruptcy
http://www.npr.org/templates/story/story.php?storyId=123659358

Check out the BS story above, then go look at the financials from there own reports (below) and tell me how anyone can say that LA is close to bankruptcy with at least $6.25B in Cash on hand and $16B in annual receipts.

LA CONTROLLER’S Preliminary FINANCIAL REPORT
http://ens.lacity.org/ctr/financial/ctrfinancial18262471_09142009.pdf
(See Page 1)

Cash Balance (July 1, 2008) = $6,497B

Annual Receipts = $16,295B

Total Available = $23,034B

Annual Disbursements = $16,529B

Cash Balance (June 30, 2009) = $6,25B

Controller's Reports
http://controller.lacity.org/financial_reports.htm

If you open the report, their "Annual Receipts" are actually trending upwards. It's all bullshit, because they want to support privatizing services.
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PostSubject: Re: Los Angeles Banruptcy Simualcrum   Sat 13 Feb 2010, 10:18 pm

Wow. This requires some scrutiny, for sure. Is this excluding CAFR funds?
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PostSubject: Re: Los Angeles Banruptcy Simualcrum   Sun 14 Feb 2010, 12:58 am

Explorer wrote:
Wow. This requires some scrutiny, for sure. Is this excluding CAFR funds?
I think those figures are quoted from the CAFR, but perhaps just a preliminary version.

But yes, the School Board would have its own CAFR, and so would other major public institutions within the city. So, you can probably guess there is a lot more money sitting on balance sheets in that city.

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PostSubject: Re: Los Angeles Banruptcy Simualcrum   Sun 14 Feb 2010, 1:16 am

Very interesting. I'm really relieved to hear it. I used to live in California and hate the thought that they were sinking so badly.

Thanks for the info. Very Happy
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PostSubject: Re: Los Angeles Banruptcy Simualcrum   Sun 14 Feb 2010, 1:37 am

Well, the problem is that they are telling the public that they are broke and are going to start acting on that information by cutting back services and selling off public assets.

So, once again, even though the truth is there for all to see, the Noble Lie is what will drive action.... and the public continues to buy into it. Just amazing.

But yes, our gov'ts are very wealthy. We were the most prosperous nation ever, having built up tremendous wealth. The problem is, that they've convinced us that we are broke. So, the truth doesn't seem to matter in this current world that we live in.

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PostSubject: Re: Los Angeles Banruptcy Simualcrum   Sun 14 Feb 2010, 2:12 am

C1 wrote:
Well, the problem is that they are telling the public that they are broke and are going to start acting on that information by cutting back services and selling off public assets.

So, once again, even though the truth is there for all to see, the Noble Lie is what will drive action.... and the public continues to buy into it. Just amazing.

But yes, our gov'ts are very wealthy. We were the most prosperous nation ever, having built up tremendous wealth. The problem is, that they've convinced us that we are broke. So, the truth doesn't seem to matter in this current world that we live in.

Breaks my heart.

Later, IP.
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