Prop Zero
The Starting Point for Commentary and Coverage of California Politics

This Ain't Greece, Dudes



    Firefighters and residents try to extinguish a fire outside the Mikrochori village, northeast of Athens, Saturday, July 17, 2010. Two large forest fires, the first of the summer season, are burning near Athens, aided by gale force winds up to 40 miles (65 kilometers) per hour. The fire is moving southeast, in the direction of the town of Marathon and the nearby Marathon Lake, which serves as a major reservoir for the Greek capital. (AP Photo/Alkis Konstantinidis)

    As Prop Zero readers know too well, California has big problems. But its state government doesn't face real risk of defaulting on its debts. That hasn't stopped commentators and analysts, in a bid for attention, from raising the prospect of default.

    Brett Arends, a columnist for Marketwatch, does the great public service of taking apart the argument of one of these anti-California fearmongers here.