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Old 10-21-2010, 08:44 PM
 
Location: Los Angeles
437 posts, read 810,976 times
Reputation: 165

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I know economy is bad everywhere in the US but it seems California is becoming bankrupt like Greece that is negative -101 % or worse than Greece ? I love California lifestyle thinking of moving there from Florida .

What a pity such a beautiful god blessed scenery and nice weather State is going through rough times how worse can California can be. worse to worse Federal Government come in and take over the State . USA is still the strongest and richest country in the world in terms of our government .

i heard also banks are not accepting any of California IOUS and the State is selling off some of the State properties . Is it wise for single college educated guy to move there now ? lastly when will California economy bounce back , back to normal and have surplus like in 2001 share your thoughts ??
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Old 10-21-2010, 08:56 PM
 
Location: SW MO
23,593 posts, read 37,460,272 times
Reputation: 29337
Quote:
Originally Posted by Inter441 View Post
Is it wise for single college educated guy to move there now ? lastly when will California economy bounce back , back to normal and have surplus like in 2001 share your thoughts ??
Yes, what's happened is a pity. Your questions are unanswerable in terms of timeline as well as probability. In general I'd say that until the people of California take back the ability to truly choose their legislators, clean house, close the border and rewrite the state constitution, things will continue to decline.

Wish I could be more hopeful!
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Old 10-21-2010, 09:24 PM
 
Location: Los Angeles
437 posts, read 810,976 times
Reputation: 165
Quote:
Originally Posted by Curmudgeon View Post
Yes, what's happened is a pity. Your questions are unanswerable in terms of timeline as well as probability. In general I'd say that until the people of California take back the ability to truly choose their legislators, clean house, close the border and rewrite the state constitution, things will continue to decline.

Wish I could be more hopeful!

i believe California will bounce back after years California is the 8th largest economy in the world just the State alone
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Old 10-21-2010, 10:31 PM
 
Location: Los Angeles
437 posts, read 810,976 times
Reputation: 165
will God bless California ?
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Old 10-22-2010, 07:39 PM
 
6,459 posts, read 12,022,525 times
Reputation: 6395
Quote:
Originally Posted by Inter441 View Post
I know economy is bad everywhere in the US but it seems California is becoming bankrupt like Greece that is negative -101 % or worse than Greece ? I love California lifestyle thinking of moving there from Florida .

What a pity such a beautiful god blessed scenery and nice weather State is going through rough times how worse can California can be. worse to worse Federal Government come in and take over the State . USA is still the strongest and richest country in the world in terms of our government .

i heard also banks are not accepting any of California IOUS and the State is selling off some of the State properties . Is it wise for single college educated guy to move there now ? lastly when will California economy bounce back , back to normal and have surplus like in 2001 share your thoughts ??
Um, "becoming"?

The only thing they haven't done is file the paperwork making it official.
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Old 10-22-2010, 07:44 PM
 
Location: Dublin, CA
3,807 posts, read 4,273,190 times
Reputation: 3984
California is going to be the first state in the union to file for bankruptcy. AND, its all to do with your socialist programs. This state is gone...
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Old 10-22-2010, 07:48 PM
 
1,465 posts, read 5,145,605 times
Reputation: 861
I wish the state could file bankruptcy. They can then void all the contracts and start over. We will get out of this, it would be quicker if we were able to file bankruptcy though.
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Old 10-22-2010, 08:05 PM
 
Location: Northridge, Los Angeles, CA
2,684 posts, read 7,379,230 times
Reputation: 2411
Quote:
Originally Posted by Inter441 View Post
will God bless California ?
Nothing to do with God, my friend.

It all has to do with mismanagement from the top, and indifference from the voters. See, funny things happen when you have a budgeting system like California's and voters as stupid as California's.

That's Democracy for you, eh? California and the United States has seen worse, and humanity as a whole has seen WAY worse, so I'm confident we will survive.

If the state could file bankruptcy (but legally can't), good. I hope it happens. Maybe it will shock enough people to think "wow, NOW we have to try something new." Legally though, CA can't file bankruptcy due to provisions in the constitution prohibiting that from happening.

State budget issues, 2010-2011 - Sunshine Review
At least for some people in here, the solace should be, in a small way, that 48/50 states HAVE budget shortfalls this year (Montana and North Dakota are the only ones that don't). But by far, California has the LARGEST shortfall way out of proportion to the size of California's economy to the United States.
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Old 10-22-2010, 11:36 PM
 
Location: Los Angeles
437 posts, read 810,976 times
Reputation: 165
Regardless what happen the private sectors business and Hollywood is still running ! And If the State really declare bankrupt Feds will step in and control the accounts of California Also Obama Admin is mad with California for trying to legalize pot and create moral problems over there ! Let the Feds step in and kick out Arnold or any idiots to run the state like a clown
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Old 10-23-2010, 12:10 AM
 
28,113 posts, read 63,638,166 times
Reputation: 23263
Quote:
Originally Posted by Inter441 View Post
Regardless what happen the private sectors business and Hollywood is still running ! And If the State really declare bankrupt Feds will step in and control the accounts of California Also Obama Admin is mad with California for trying to legalize pot and create moral problems over there ! Let the Feds step in and kick out Arnold or any idiots to run the state like a clown
Arnold will be gone shortly...

I keep reading that CA will file Bankruptcy... yet, as far as I understand... BK is not an option.

When major companies go BK... everything is on the table... including pensions and benefits.

An acquaintance retired from a major airline and was just starting to enjoy his pension... now, after BK, he receives 2/3 less than promised.
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