by eastbay » Mon 13 Jul 2009, 14:44:26
I think it's somewhat like someone losing their well paying job but continuing to insist they can maintain their earlier standard of living. We all know people like that. They use credit cards, burn through 401k's, bank accounts, home equity... anything to keep the illusion and dream alive.
That's what California tried to do these past few years. The pre 2005 era will never return, but California lived these past four years as if the housing bubble, $147 oil, and recent bank crisis hadn't occurred. But at some point the well dries up.... heh... and that's apparently happened here.
And that's why they failed to trim the budget earlier leaving this disaster.
Got Dharma?
Everything is Impermanent. Shakyamuni Buddha