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Well California will become insolvet. So does the Federal Government take over running the state?
You're confusing the insolvency of a private business with the insolvency of a government. They are resolved in totally different ways. Specifically, the government remains...ALWAYS.
What is going to happen when California becomes insolvent?
It is already. The coffers are bare. Nothing will happen as long as there are enough fools to buy our bonds and loan us money because we are California, you know. We sent Arnold around in his jet to hustle for that before, now it's Jerry's turn to pimp Califonia to the world. As long as we keep the fact that Ca is looking more and more like an old saggy hooker with missing teeth hidden we should be OK
You're confusing the insolvency of a private business with the insolvency of a government. They are resolved in totally different ways. Specifically, the government remains...ALWAYS.
It may, but it can't operate normally. As a vendor would you continue to sell to a customer who doesn't pay you? State or not. What happens when they can't make payroll or pay providers?
It is already. The coffers are bare. Nothing will happen as long as there are enough fools to buy our bonds and loan us money because we are California, you know. We sent Arnold around in his jet to hustle for that before, now it's Jerry's turn to pimp Califonia to the world. As long as we keep the fact that Ca is looking more and more like an old saggy hooker with missing teeth hidden we should be OK
" California plans to sell almost $14 billion in debt just as the municipal bond market gets pummeled by a flood of supply, worries about the future of the Build America Bonds program and a selloff in the Treasury market."
Well California will become insolvet. So does the Federal Government take over running the state?
The Federal Government might become insolvent first. Mitch McConnell is willing to have the US default just so Obama won't be elected again, even though that would make our current economic crisis look petty and probably would cause China to declare war on us
The Federal Government might become insolvent first. Mitch McConnell is willing to have the US default just so Obama won't be elected again, even though that would make our current economic crisis look petty and probably would cause China to declare war on us
Well that's not true. We are doomed in this country if people don't start taking these issues seriously. The demagoguery has to stop.
"Senate Minority Leader Mitch McConnell has effectively killed any hopes of passing an omnibus appropriations bill in the lame duck, announcing today that he is opposed to such a measure. Congress will be forced to keep the government operating through a continuing resolution."
The Federal Government might become insolvent first. Mitch McConnell is willing to have the US default just so Obama won't be elected again, even though that would make our current economic crisis look petty and probably would cause China to declare war on us
Can he do that all by himself ?
I think Bernanke is going to beat him to the punch.
You see Bernanke has a printing press and controls the money.
This is why I love Arizona. It has the best California has to offer but not it's tree hugger mentality. We are not conservative Bible Thumpers either. We are libertarians aka the common sense party (low taxes, less government and socially moderate policy). We are not so liberal to endorse amnesty for illegals but are not so conservative to oppose medical marijuana.
My nephew, who use to live in CA, couldn't afford to buy a small house and he makes 6 figures. He had to relocate.
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