The divorce from reality gets body checked

The vigil over at curmudgeon central is being soundly egged on its one year anniversary by the more-than-capable-bow-tied wonder, Charlie Burr.

Despite the fact that Portland is running well in the black and as TJ says in comments to Charlie's post, the city just had its bond rating updated by Moody's Investor Service. Metro in fact has earned the highest bond rating.

So what does the curmudgeon know that Moody's doesn't?

Perhaps the more appropriate question is: What does Moody's know that the curmudgeon doesn't?