Quote:
Originally Posted by shorebaby
What is going to happen when California becomes insolvent?
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They are insolvent already.
They have been after a federal bailout for some time. Even if they get a bailout, which I bet they will, it will be debt that will help to water down the American Dollar even further.
California will be treated as a "too big to fail" situation. The rest of the country will pay for it for decades to come. Once the money starts flowing, most will forget about how the mess began, and it will be business as usual. Reason and accountability will not matter.