Beer Money

Now that US Treasuries have been downgraded to triple-Z, the LakeCountyEye paper shredder has been working overtime. The junk-status Treasury Bonds have been removed from the LakeCountyEye 401K, in an effort to make room for other investment vehicles, in particular high-yield super-safe municipal bonds. According to Moody's ...

most state, local government and public authorities that issue debt in the municipal bond market are "well insulated from shock," but added that some could be vulnerable to risk during major market volatility.
Some states and cities could face stress: Moody's

And as readers of this blog are richly aware ...

Dollars & Munificence

your LakeCountyEye promised to rate some local municipal bonds, from A to Z. Yesterday your LakeCountyEye evaluated Ingleside's bonds -- while tomorrow, as promised, will be Ivanhoe. All of which means today must be Island Lake.

As readers of this blog are laughably aware, Island Lake -- a community of friendly people™ -- has gotten some bad press lately ...

rebuttles.com

none of which bodes well when evaluating any municipal offering. Island Lake, after all, is a village with a track record of resolving its inter-governmental differences either by lawsuit or by filing charges. Your LakeCountyEye has to wonder, after settling up with the lawyers, how much will be left in the bank to pay off their bond holders?

There is one silver lining to this otherwise cloudy forecast. Island Lakefest is scheduled this weekend, and this year the village will be operating the beer & wine concession:

the village of Island Lake voted to sell alcohol at the upcoming summer carnival. Historically, the privilege has been the Lion's Club to sell alcohol at village events. Instead, the board voted 4-2 in allowing the village to sell alcohol at the carnival.
Village will sell alcohol at upcoming summer carnival

Your LakeCountyEye knows that in a village as friendly-peopled as Island Lake is, anyone operating the beergarden at their summer carnival is poised to make out like a bandit. Deep-6 those worthless T-Notes because your LakeCountyEye gives Island Lake's bonds a AAA rating.

Operatives are encouraged to attend Island Lakefest 2011 this weekend. Grab a brew, and a ringside seat to the action!