California bonds are now viewed as one of the riskiest places in the world for investors to put their money. At least that is according to the latest "CMA Sovereign Risk Monitor," which ranks the world’s most volatile sovereign debt issuers. The analysts, in a May 11 list, said California has the seventh highest risk of default.
The six with rankings more worrisome than California are Venezuela (the worst), followed by Argentina, Pakistan, Greece, Ukraine and the Emirate of Dubai. California ranks ahead of the Republic of Latvia, the Region of Sicily and Iraq. See the list under "Highest Default Probabilities."
--Joseph Vranich, Business Relocation Coach, on the world's financial basket cases