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Old 08-12-2011, 09:18 PM
 
5,113 posts, read 5,971,185 times
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California is Bankrupt

``Since California will never/could never have any "surplus" revenues to pay off these warrants they are nothing but a blatant fraud. In the "real world" we already have a term for such fraud: "kiting a cheque". It is the last resort of all deadbeats -- just before they declare bankruptcy (http://iamfacingbankruptcy.com/ - broken link).''
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Old 08-12-2011, 09:37 PM
 
Location: San Diego, California Republic
16,588 posts, read 27,384,877 times
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How many times do you people need to be told before, by some rare miracle, you recall that California cannot and will not declare bankruptcy? How long are you going to continue waiting for that train before it suddenly and abruptly occurs to you that the train was never in service????

Do you wake up every day as if it's your first view of the world and have no recollection of the previous day?
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Old 08-12-2011, 09:45 PM
 
5,113 posts, read 5,971,185 times
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Quote:
Originally Posted by Gentoo View Post
How many times do you people need to be told before, by some rare miracle, you recall that California cannot and will not declare bankruptcy? How long are you going to continue waiting for that train before it suddenly and abruptly occurs to you that the train was never in service????

Do you wake up every day as if it's your first view of the world and have no recollection of the previous day?
You obviously didn't read the article ...
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Old 08-12-2011, 10:18 PM
 
Location: On the "Left Coast", somewhere in "the Land of Fruits & Nuts"
8,852 posts, read 10,454,406 times
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If it's any consolation, there are plenty of others, and they're even worse off!
Financial Crisis 2011: The Ten Worst States

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Old 08-12-2011, 10:28 PM
 
24,396 posts, read 26,946,756 times
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Quote:
Originally Posted by Don9 View Post
California is Bankrupt

``Since California will never/could never have any "surplus" revenues to pay off these warrants they are nothing but a blatant fraud. In the "real world" we already have a term for such fraud: "kiting a cheque". It is the last resort of all deadbeats -- just before they declare bankruptcy (http://iamfacingbankruptcy.com/ - broken link).''
California receives about what? Less than 80% per dollar of Federal Tax. Yet states such as Alaska get almost 200% per dollar of Federal Tax.
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Old 08-12-2011, 10:51 PM
 
5,113 posts, read 5,971,185 times
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Signs point to California facing new budget gap


California's latest monthly revenue report shows revenue weaker than expected even before the stock market, a key source of revenue for the state, began sliding in response to Standard & Poor's downgrade of U.S. debt, anxiety about Europe's finances and the risk of the U.S. economy slipping back into recession.
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Old 08-13-2011, 12:51 AM
 
Location: Dublin, CA
3,807 posts, read 4,274,634 times
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High speed railway, and great college school systems will fix all of this!!
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Old 08-13-2011, 03:25 AM
 
454 posts, read 1,242,490 times
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Quote:
Originally Posted by Phil306 View Post
High speed railway, and great college school systems will fix all of this!!
Far too late my friend, far too late. People will just go to where the jobs are. Its called brain drain. If all the jobs are in texas then guess where your CA college grads going to go? Texas.

Business friendly climate and jobs are everything these days. California has neither.
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Old 08-13-2011, 05:20 AM
 
Location: Florida
2,011 posts, read 3,551,744 times
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Quote:
Originally Posted by bmw335xi View Post
California receives about what? Less than 80% per dollar of Federal Tax. Yet states such as Alaska get almost 200% per dollar of Federal Tax.
That's a very misleading stat. Why it is misleading has been discussed often on this board. It means little.
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Old 08-13-2011, 05:25 AM
 
Location: Florida
2,011 posts, read 3,551,744 times
Reputation: 2748
Quote:
Originally Posted by a34dadsf View Post
Far too late my friend, far too late. People will just go to where the jobs are. Its called brain drain. If all the jobs are in texas then guess where your CA college grads going to go? Texas.

Business friendly climate and jobs are everything these days. California has neither.
A lot of people live in CA for mother nature. The climate, the scenery, the mountains, etc. I may end up moving to Seattle, but not because I hate CA. I love CA; politics notwithstanding. I'm willing to put up with a lot of BS before I'll give up all of the things mother nature blessed CA with. Unfortunately, I think the government knows that.

There are a lot of states I wouldn't move to. I don't care how many jobs they have. I'll flip burgers in CA before I work as a software engineer in SC. Just saying... To each his own. Thank God we don't all want to live in the same state.

Last edited by CarawayDJ; 08-13-2011 at 05:37 AM..
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