Russia Today Has a Chuckle Over CA's Budget Crisis, IOUs

In this clip from Russia Today, an English-language news program based in Moscow, the suave and accented anchorman speaks with an American correspondent about the fiscal crisis in California and the "meaningless pieces of paper" the state is now issuing to vendors in lieu of cash. Is it just us, or does this dude have a certain smirky, bemused attitude toward the idea that this state with the 8th largest economy in the world is bankrupt?