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Old 03-01-2010, 09:45 AM
 
Location: Whiteville Tennessee
8,262 posts, read 18,435,932 times
Reputation: 10148

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I'm not sure "free" healthcare or any other social program is a major reason for the state of our nations bad economy. I think you could treat an awful lot of sick people for the cost of 1 uneeded military program. No. I'm not some bleeding heart liberal. I just think its a better value for ones dollar helping people than building $400,000,000 pieces of sh*t aircraft that are outdated before they even roll off the assembly line.
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Old 03-05-2010, 02:50 PM
 
12,867 posts, read 14,865,603 times
Reputation: 4459
of course JP morgan is wrong, but i am sure that they have their reasons :



For perspective, let's start with raw numbers. The debt of the Greek government hit 300 billion Euros two months ago making headlines around the financial world. At current exchange rates, this is over $400 billion and is surely higher today. The total general fund debt of California is LESS THAN $85 billion as of January 1, 2010. So in absolute terms, the Greek Problem is nearly FIVE TIMES LARGER than California's. In terms proportional to the size of the respective economies, the disparity becomes even more striking.

JP morgan has an agenda.
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Old 03-05-2010, 06:09 PM
 
2,145 posts, read 5,054,673 times
Reputation: 1666
Quote:
Originally Posted by hsw View Post
CA and NYC are world's two most powerful economies, so feds will bail them out (they're each in deep trouble as rich taxpayers can easily flee to TX in era of working via Net)

PIIGS (and UK) are relative economic munchkins vs CA or NYC...and need to be bailed out by the Germans (and possibly US will need to bail out the hapless Brits, the irony)

Bankruptcy (or some equivalent) will be needed to break the union parasites and the welfare crowd who congregate in these overly generous, overly taxed places

Would bet on ability of ever-creative CA to perform such creative destruction...and come up w/a state gvt that's along lines of TX's: world's most efficient, pro-business state/local government...but it'll be a bumpy few yrs
I totally agree/would be on this,too.
In fact,I have said as much on other threads...
CA created innovations for the times,not products/services of the time.
The innovations are the things that last.
While others compare their own industries/jobs in areas of work that were once innovations [ie,call centers in India,manufacturers in china,biotech or IT in atlanta],and consider themselves ahead of CA,CA will meanwhile have to reinvent itself,like the proverbial phoenix. Others create economies based on these innovations,but the end up being services or products,by the time these innovations are spread throughout regions/countries. And one day,they will no longer be needed. New ones will have since sprung up.
You know,i hear they just started wearing skinny jeans in Indianapolis! just now in 2010. lol kinda relevant metaphor...

I just don't see CA becoming a 3rd world dump,but maybe i am optomistic. Nowhere to go but up from here....not sure if i can stick around to see it,but....i think it's there for the creating.

Last edited by lrmsd; 03-05-2010 at 06:10 PM.. Reason: typo
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Old 03-05-2010, 06:10 PM
 
Location: southern california
61,289 posts, read 87,150,906 times
Reputation: 55550
we will not, we will not, stop spending.
beginning of term arnold said
california does not have an income problem it has a spending problem.
our politicans have found they can get reelected by giving away money.
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Old 03-05-2010, 06:13 PM
 
2,145 posts, read 5,054,673 times
Reputation: 1666
Quote:
Originally Posted by mysticaltyger View Post
Unforunately, the Crony Capitalism vs Socialism paradigm that now dominates America's economy will not succeed. Both are really more similar to than different. Both involve blocking or limiting the competition that makes for a solid economy.

And all the while Americans are fighting each other about which type of dysfunction we should have, when the real answer is "neither of the two".
could not have said it better myself.
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Old 03-09-2010, 12:02 PM
 
Location: Earth
17,440 posts, read 28,496,014 times
Reputation: 7472
Quote:
Originally Posted by hsw View Post

Bankruptcy (or some equivalent) will be needed to break the union parasites
Secession?
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Old 03-09-2010, 12:49 PM
 
Location: The High Seas
7,372 posts, read 15,952,551 times
Reputation: 11865
Quote:
Originally Posted by floridasandy View Post
of course JP morgan is wrong, but i am sure that they have their reasons :



For perspective, let's start with raw numbers. The debt of the Greek government hit 300 billion Euros two months ago making headlines around the financial world. At current exchange rates, this is over $400 billion and is surely higher today. The total general fund debt of California is LESS THAN $85 billion as of January 1, 2010. So in absolute terms, the Greek Problem is nearly FIVE TIMES LARGER than California's. In terms proportional to the size of the respective economies, the disparity becomes even more striking.

JP morgan has an agenda.
Although, by other estimates, the California debt is more than $600 billion. I wrote another thread about this. There are a lot of financial obligations, apparently, that have not been published by the state government as part of the overall indebtedness of the state. I'll look for that link now.
Here it is: http://www.city-data.com/forum/calif...insolvent.html

Last edited by Snort; 03-09-2010 at 12:51 PM.. Reason: just for fun
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