there suddenly seems to be a bunch of posts, the punchline of which is that the credit default swap markets rate california's credit as riskier than kazakhstan's.
really all this tells me is how little the writers know about kazakhstan's economy. it's not surprising at all that a country this rich in natural resources, with a large untapped reserve of oil and national gas, and with a government determined to opening the country to foreign investment would be preferred by the markets over a state with an ongoing budget crisis and a political system that is utterly incapable of dealing with it.
