U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > California
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-04-2013, 02:25 AM
 
Location: On the water.
17,585 posts, read 10,047,774 times
Reputation: 14739

Advertisements

Quote:
Originally Posted by sunshine7793 View Post
When you owe more than you have you are broke. And the California State Auditor says that CA is broke:

Capitol Alert: State auditor: California's net worth at negative $127.2 billion
Not when you have assets like the continent's most fertile and productive farmland that provides 25% of the nation's food. And ports that handle 75% of the nation's trade with Asia. And most of the nation's venture capital investments. And the world's leading high tech design and development community. And the nation's greatest infrastructure of roads and highways. And the greatest concentration of highest quality academia and brain trust. And one of the greates tourist industries. And and and and and and and and.

Notice I didn't even get to the great weather yet?

It's called intangible assets and ability to earn and pay and grow. It's what sophisticated investors invest in.

What I don't get is how some folks get out of bed in the morning with such a badly misinformed negative outlook on life.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 04-04-2013, 05:01 AM
 
Location: Quimper Peninsula
1,981 posts, read 2,710,041 times
Reputation: 1758
Quote:
Originally Posted by bigdumbgod View Post
<<yawns>>

Yeah, and we all shall be smote for our sins, blah blah blah. Keep wishing for the Death of CA. We'll still be here.


------------
I get so sick of the negative nanny crap... Blatant political campaigning on the OP's part that belongs in the politics threads.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-04-2013, 11:59 AM
 
5,870 posts, read 11,517,602 times
Reputation: 4551
Quote:
Originally Posted by Tulemutt View Post
Not when you have assets like the continent's most fertile and productive farmland that provides 25% of the nation's food. And ports that handle 75% of the nation's trade with Asia. And most of the nation's venture capital investments. And the world's leading high tech design and development community. And the nation's greatest infrastructure of roads and highways. And the greatest concentration of highest quality academia and brain trust. And one of the greates tourist industries. And and and and and and and and.

Notice I didn't even get to the great weather yet?

It's called intangible assets and ability to earn and pay and grow. It's what sophisticated investors invest in.

What I don't get is how some folks get out of bed in the morning with such a badly misinformed negative outlook on life.
Like Mack Knife was saying, if you owe money on a house or car that you can't pay in full right now, but are bringing tons of income every year for a long time, then thats not broke.

And California will never go "broke" for the reasons you stated above. Those things mentioned can't be recreated elsewhere.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-04-2013, 12:27 PM
 
Location: Loleta, CA
1,310 posts, read 1,124,068 times
Reputation: 1863
We'll be alright doe.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-04-2013, 12:52 PM
 
7,281 posts, read 9,632,126 times
Reputation: 11460
Quote:
Originally Posted by slo1318 View Post
Yes if you owe $500k and have $100k you are broke.
No, you owe $500,000. You see, that comment was the narrow view of things. What if the $500,000 is owed over time? Are you still broke with $100,000 in the bank? No you are not.

If that $100,000 is invested and can repay the $500,000 over the time when it is due, are you broke? Maybe you can answer that one, I'm curious to read that.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-04-2013, 12:54 PM
 
7,281 posts, read 9,632,126 times
Reputation: 11460
There are always those who live in the moment and forget that things change over time, including debt, income, potential and results.

Living in the moment, nothing wrong with that but when you also can't think 1 second into the future, well, you end up with fear, analysis paralysis and the post that started this thread.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-04-2013, 12:59 PM
 
11,715 posts, read 37,436,970 times
Reputation: 7535
Quote:
Originally Posted by Mack Knife View Post
No, you owe $500,000. You see, that comment was the narrow view of things. What if the $500,000 is owed over time? Are you still broke with $100,000 in the bank? No you are not.

If that $100,000 is invested and can repay the $500,000 over the time when it is due, are you broke? Maybe you can answer that one, I'm curious to read that.
I don't think you know what "insolvent" means.

California could default on bonds and bounce payroll checks and people like you would still be making up excuses about how its not that bad and the weather's still great.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-04-2013, 01:04 PM
 
Location: Sector 001
9,301 posts, read 7,800,956 times
Reputation: 10148
it's just numbers on a computer screen. Who cares. A little hyperinflation would make all the 'debt' paid off in the blink of an eye. Anyone fortunate enough to be born in, or have the guts to, move to an area with a lot of intangible worth such as a great climate with mountains, beaches, progressive culture, etc. consider themselves grateful. I'm stuck here in eastern South Dakota and only wish I had the guts to quit my good job and run off, even if it means living in a shack, somewhere warm and beautiful.

The whole fractional reserve system is designed to fail, there's no way to pay back all the debt. No debt, no money supply. I'm amazed they've somehow stabilized the system the way they have.



http://www.youtube.com/watch?feature...E_gOys#t=1495s

Last edited by sholomar; 04-04-2013 at 01:19 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-04-2013, 01:14 PM
 
11,715 posts, read 37,436,970 times
Reputation: 7535
Sure, just numbers on a screen. Until you're the one being told you won't be getting paid for your work or won't get your investment back.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-04-2013, 01:36 PM
 
Location: So California
8,707 posts, read 9,563,098 times
Reputation: 4775
Quote:
Originally Posted by Mack Knife View Post
No, you owe $500,000. You see, that comment was the narrow view of things. What if the $500,000 is owed over time? Are you still broke with $100,000 in the bank? No you are not.

If that $100,000 is invested and can repay the $500,000 over the time when it is due, are you broke? Maybe you can answer that one, I'm curious to read that.
You keep going back to a mortgage debt or the like.
If you have $100k and owe $500k you have a net worth of -$400k.
If you buy a house for $500k and you put $100k in to the house your still $400k in debt.

Scenarios:
Take $100 k and apply to $500k debt, you're still $400k in debt.
Take $100k invest it and make a generous 10% return. It would take you 50 years IF the $500k was not accruing interest. You can not repay $500k in debt making that return. You will have deficit spending, to maintain your debt. Your in debt still.....what else?
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > California

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top