governor christie is anomaly, it is almost the country is off moing in the direction anybody that says government is too big, too many regulations, taxes are too high and out of control seems it would be a winning political message but you don t hear it from enough people. i think people are afraid of cutting the wrong programs and paying a political price. sean: are states like new york and california risk going bankrupt? yeah sean: what does that mean for municipal bonds? there s a big danger. particularly people close to retirement, a lot of fear bonds are paying fantastic amounts of returns, they are the next bubble waiting to happen. sean: meaning they lose their money? meaning it bursts people don t pay, people lose money and another spiral down. sean: do we get to the point where treasuries won t be worth anything or in russia where foreign investors lose
governor christie is anomaly, it is almost the country is off moing in the direction anybody that says government is too big, too many regulations, taxes are too high and out of control seems it would be a winning political message but you don t hear it from enough people. i think people are afraid of cutting the wrong programs and paying a political price. sean: are states like new york and california risk going bankrupt? yeah sean: what does that mean for municipal bonds? there s a big danger. particularly people close to retirement, a lot of fear bonds are paying fantastic amounts of returns, they are the next bubble waiting to happen. sean: meaning they lose their money? meaning it bursts people don t pay, people lose money and another spiral down. sean: do we get to the point where treasuries won t be worth anything or in russia where foreign investors lose