Jupiter conjoins Pluto on December 11, 2007. It represents large (Jupiter) amounts of debt that have turned toxic (Pluto). In a previous post (“Foreign Band-Aid”) I mentioned that “When these two planets last conjoined in 1994 in Scorpio (Pluto’s “home sign), Orange County California defaulted on its municipal bonds”.
Orange County California has done it again. The county holds around $837M of debt in Structured Investment Vehicle (SIV) debt managed by Citigroup, Centauri, Standard Chartered and Tango Finance. On November 30, Moody’s informed the county that $460M, or 20% of its assets invested in SIVs, face ratings downgrades.
Despite media opinion that Orange County’s SIV debt has minimal exposure to the subprime market, a look at the horoscope of Orange County suggests otherwise. Orange County’s Sun (self-identity) and Mercury (thought process) are in Leo, the sign of speculation. These planets form aspects to Neptune (credit/interest rates) and Pluto (debt). The county’s Venus (financial assets) is opposite Jupiter (extravagant spending). With the majority of planets in the fire and air elements, the county has an enthusiastic and optimistic outlook regarding its finances. With a lack of planets in the earth element, Orange County fails to assess the risk of what Wall Street is telling them in terms of safety.
The Jupiter/Pluto conjunction directly impacts Orange County’s natal Jupiter in Sagittarius. Pluto will continue to affect the county’s Jupiter through November 2008. At the same time, Saturn (limitation/loss) impacts Orange County’s natal Pluto and Neptune, and progressed* Sagittarius Sun. There may be a financial scandal erupt between now and midsummer, as well as leadership changes. Not only are Orange County’s investments deteriorating in value, but the horoscope shows the county has a tendency to overextend itself.
As I stated in a post on the problems with the Florida Fund:
“Cycles repeat themselves and it is up to us to learn and understand the message they convey.” Orange County is a perfect example of astrology’s importance in understanding ourselves and our world.
* A mathematical method of prediction that calculates natal planets forward in time.
RELATED POSTS in the Economy section under DIRECTORY:
“Florida Fund Not Having Fun in the Sun” (11/30/07)
“Foreign Band-Aid” (11/28/07)
Orange County, California: August 1, 1889 Santa Ana
Sources: Print editions (unable to find online links)
Financial Times: “Orange County funds in focus” (p. 28)
Wall Street Journal: “Orange County Feels SIV Squeeze” (breaking views column, p. C14)