For the framing is different and what is different about that framing is what is the default state to which we should be comparing the effects of our actions?
FORBES: Dani Rodrik on the Distributional Effects of Free Trade
These bonds may default (the state's finances are looking very shaky), but if they do, the LA property market is in for trouble too.
For his part, Mr Davis launched his offensive by accusing his opponents of trying to take back control of the state by default.
Euro-zone government bonds had long been considered one of the world's safest investments: There was thought to be little risk a member state would default.
Yeltsin pledged some of the most lucrative state companies, such as Yukos, Lukoil, Sibneft, and Norilsk Nickel, as loan collateral with the understanding that the state would default.
FORBES: Berezovsky vs. Abramovich: Insecure Oligarchs Spell Bad Russian Economy
On the other side of the coin are serial defaulters such as Greece, which according to authors Carmen Reinhart and Kenneth Rogoff has spent more than half of its existence since independence in 1829 in a state of default.
Neither central nor state governments are likely to default, and the deficit is financed not by foreign borrowing, but by a high savings rate and a compliant banking system (in which state-owned banks account for 90% of deposits).
ECONOMIST: Too little investment; too big a deficit; too few jobs
You can also read our guides to how you could be affected by the end of the default retirement age and plans for a later state pension age.
Financial prospects for the U.S. have deteriorated to a state where the probability of a default in the full faith and credit of the U.S. government is actually higher than a handful of top tier U.S. publicly traded corporations.
FORBES: Big Corporations Look Like Better Borrowers Than Uncle Sam
To go back to the default map showing the latest poll averages for each state, just refresh the page in your browser.
Harrisburg, the state capital of Pennsylvania, was scheduled to default on a 3.3 million dollar bond payment yesterday.
But I would still rather argue, equally righteously, that what we should consider is the natural state before the introduction of trade restrictions as that default.
FORBES: Dani Rodrik on the Distributional Effects of Free Trade
They will miss the comfortable refuge from default risk, the wealth of noncallable issues, the exemption from state income tax and the dependable benchmark that corporate bond issuers use to price their securities.
And since 1991 the National Conference of Commissioners on Uniform State Laws, a group dedicated to rationalizing and harmonizing state laws, has urged states to make this the default for a married person with kids (but no children from a previous marriage) who dies intestate.
Naysayers claim that the place has overextended itself, that many of its vaunted projects are real-estate scams, and that the emirate can afford to spend so wildly only because the giant stores of oil in neighbouring Abu Dhabi, the anchor-state of the United Arab Emirates, offer a guarantee against default.
Why default on the possibility that a better kind of "lookout on the ship of state" may emerge from the current maelstrom of innovation?
And the governor of New York State wants companies that sell CDS to insure customers' bond portfolios from default to be subject to solvency rules.
So even given the domination of state-controlled Sberbank to which customers fled after the 1998 default and devaluation, and which boasts more than half of all retail deposits, over a quarter of all banking assets and access to cheaper capital than private banks there is enough business to go round.
"Unprincipled speculators are making billions every day by betting on a Greek default, " Papandreou said on Monday after meeting with U.S. Secretary of State Hillary Clinton in Washington.
"It's reasonable for the Secretary of State, reading that judgment as whole, (to find) no serious default was disclosed, " Mr Maguire said.
By default, the Occupy Movement has become saturated with lefty sentiment to impugn capitalism and exonerate the welfare state.
Even if a state is encountering budget problems (and many are), it may still remain far from default.
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