| | Los Angeles Banruptcy Simualcrum | |
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They Live
Posts : 210 Join date : 2009-10-23
| Subject: 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. | |
| | | ScoutsHonor
Posts : 1360 Join date : 2009-10-20
| Subject: Re: Los Angeles Banruptcy Simualcrum Sat 13 Feb 2010, 10:18 pm | |
| Wow. This requires some scrutiny, for sure. Is this excluding CAFR funds? | |
| | | C1 Admin
Posts : 1611 Join date : 2009-10-19
| Subject: 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. _________________ "For every thousand hacking at the leaves of evil, there is one striking at the root."David Thoreau (1817-1862) anonymously email me by clicking here | |
| | | ScoutsHonor
Posts : 1360 Join date : 2009-10-20
| Subject: 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. | |
| | | C1 Admin
Posts : 1611 Join date : 2009-10-19
| Subject: 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. _________________ "For every thousand hacking at the leaves of evil, there is one striking at the root."David Thoreau (1817-1862) anonymously email me by clicking here | |
| | | ScoutsHonor
Posts : 1360 Join date : 2009-10-20
| Subject: 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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