Sovereign Default Hall Of Shame: May I Have The Envelope?

(H/T to Mish, the one and only Chief Rabbi of Economics)

Mish points us to the latest Credit Default Swap quotes.

It's sort of like golf: The higher your score, the worse your situation.

So, drumroll puhleezzze, for the Sovereign Default Hall of Shame!

Venezuela
Greece
Argentina
Pakistan
Ukraine
Dubai/Emirate of
Iraq
Illinois/State of
Portugal
California/State of

Wait-a-minit-thar, bubbah! OS gots a question or toooh 'bout this heah' list!

Illinois ranks below Pakistan, Iraq, and Dubai? Two of those states are in war zones, and one of them is run by a profligate royal family.

Now, where izzit that The Winner of the 2010 Nobel Peace Prize hails from?

Isn't that Illinois?

Didn't He serve in the state senate there and vote on spending bills that now have to be paid for?

And isn't that guy Chavez in Venezuela someone The One and his posse positively admire?

And isn't Argentina that country that wants to get another war underway over the Falkland Islands, with the active help of The Winner of the 2010 Nobel Peace Prize and Miss Hillary?

And isn't California the place that keeps voting Democrat, and building the welfare state, and is overrun with Mexicans--and isn't that where Miss Nancy Pelosi hails from?

Aren't they trying to do to the country what they did to their states?

So, if these folks and their friends are the True and Only Path of Enlightenment for both the government and economy, how come anybody with a buck to invest in sovereign debt runs away from them?

Maybe they know that these folks always take societies and their economies over the cliff?