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CA 50 Days From Financial Meltdown

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CA 50 Days From Financial Meltdown

Unread postby mattduke » Wed 10 Jun 2009, 22:43:33

$this->bbcode_second_pass_quote('', '&')quot;Without immediate solutions from the governor and legislature, we are less than 50 days away from a meltdown of state government," Chiang said in a statement.

reuters
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Re: CA 50 Days From Financial Meltdown

Unread postby jasonraymondson » Wed 10 Jun 2009, 22:46:57

$this->bbcode_second_pass_quote('mattduke', '')$this->bbcode_second_pass_quote('', '&')quot;Without immediate solutions from the governor and legislature, we are less than 50 days away from a meltdown of state government," Chiang said in a statement.

reuters
Idiots.


I got $500.00 that California will be bailed out by the federal tax payer well before they crash.

Who will take my bet?
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Re: CA 50 Days From Financial Meltdown

Unread postby mattduke » Wed 10 Jun 2009, 22:57:05

What are the odds that the bay bridge boondoggle will be completed within our lifetime? Careful, that last pothole is a doozy.

http://maps.google.com/?ie=UTF8&ll=37.8 ... 8&t=h&z=15
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Re: CA 50 Days From Financial Meltdown

Unread postby Plantagenet » Wed 10 Jun 2009, 22:59:45

$this->bbcode_second_pass_quote('jasonraymondson', 'C')alifornia will be bailed out by the federal tax payer well before they crash.



Seems likely.

Obama bailed out the auto companies largely to support the UAW and the blue state of Michigan. I can't imagine Obama won't also bail out the blue blue state of California. :roll:
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Re: CA 50 Days From Financial Meltdown

Unread postby Armageddon » Wed 10 Jun 2009, 23:02:57

Bail them out, it's only money.
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Re: CA 50 Days From Financial Meltdown

Unread postby Daniel_Plainview » Wed 10 Jun 2009, 23:17:50

$this->bbcode_second_pass_quote('Armageddon', '[')size=200]Bail them out, it's only money.[/size]


Hey, Obama should adopt that as one of his mottoes !
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Re: CA 50 Days From Financial Meltdown

Unread postby Plantagenet » Wed 10 Jun 2009, 23:24:26

$this->bbcode_second_pass_quote('DoomWarrior', '')$this->bbcode_second_pass_quote('Armageddon', '[')size=200]Bail them out, it's only money.[/size]


Hey, Obama should adopt that as one of his mottoes !


He will....as soon as someone writes it for him to read on his teleprompter.
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Re: CA 50 Days From Financial Meltdown

Unread postby beamofthewave » Wed 10 Jun 2009, 23:29:58

He wont bail them out, I read that he already said that the fed is out of money. The more money he gives to help the people the less for the banks and since we have already given the banks 30 trillion in the past two years and that isnt even a start to pay off the 1.25 quadrillion in hedge fund bets, there will be no money for our fellow citiezens in Calfornia.
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Re: CA 50 Days From Financial Meltdown

Unread postby Armageddon » Wed 10 Jun 2009, 23:44:40

The FED is never out of money. They own the printing presses.
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Re: CA 50 Days From Financial Meltdown

Unread postby jbrovont » Wed 10 Jun 2009, 23:46:27

These are strange times. When a state government fails, what happens? Michigan can't be far behind (among others) we're pretty much seeing a collapse of any sector except government jobs and university / education employment here. I wonder what's going to happen when the tax base (further) collapses?
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Re: CA 50 Days From Financial Meltdown

Unread postby Tyler_JC » Thu 11 Jun 2009, 00:21:26

Define "bailout".

The state of California has the worst credit rating in the country. A big increase in borrowing would cause a junk rating to be issued by Moody's, S&P, etc. Also known as....Financial Meltdown.

However, it is certainly possible that the Federal Government will issue a guarantee for California state bonds.

That would instantly boost California credit rating and could be considered a "bailout", in the same way that bank depositors have been "bailed out" via the big increase in the FDIC limit from $100,000 to $250,000.
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Re: CA 50 Days From Financial Meltdown

Unread postby jasonraymondson » Thu 11 Jun 2009, 08:38:34

$this->bbcode_second_pass_quote('jbrovont', 'T')hese are strange times. When a state government fails, what happens? Michigan can't be far behind (among others) we're pretty much seeing a collapse of any sector except government jobs and university / education employment here. I wonder what's going to happen when the tax base (further) collapses?


Missouri is still holding its head above water. We will probably have a budget surplus again this year.
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Re: CA 50 Days From Financial Meltdown

Unread postby Revi » Thu 11 Jun 2009, 08:42:15

$this->bbcode_second_pass_quote('jasonraymondson', '')$this->bbcode_second_pass_quote('jbrovont', 'T')hese are strange times. When a state government fails, what happens? Michigan can't be far behind (among others) we're pretty much seeing a collapse of any sector except government jobs and university / education employment here. I wonder what's going to happen when the tax base (further) collapses?


Missouri is still holding its head above water. We will probably have a budget surplus again this year.


What? Show me!
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Re: CA 50 Days From Financial Meltdown

Unread postby 3aidlillahi » Thu 11 Jun 2009, 08:57:02

$this->bbcode_second_pass_quote('Revi', '')$this->bbcode_second_pass_quote('jasonraymondson', '')$this->bbcode_second_pass_quote('jbrovont', 'T')hese are strange times. When a state government fails, what happens? Michigan can't be far behind (among others) we're pretty much seeing a collapse of any sector except government jobs and university / education employment here. I wonder what's going to happen when the tax base (further) collapses?


Missouri is still holding its head above water. We will probably have a budget surplus again this year.


What? Show me!

Missouri Budget

They project a $50 million surplus in 2009 on page 8. That's a drop from $500 million the past two years. On previous pages, they claim that we're going to have a GDP growth rate of more than 2%! Personal income within Missouri is expected to increase 4.3% which was more than the projected 4.0% last year. :lol: I expect that if they don't dramatically cut programs, that they will have a lot of debt this year.
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Re: CA 50 Days From Financial Meltdown

Unread postby jasonraymondson » Thu 11 Jun 2009, 10:20:54

Why is a Muslim claiming to be a Missourian... we don't allow Muslims in Missouri
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Re: CA 50 Days From Financial Meltdown

Unread postby 3aidlillahi » Thu 11 Jun 2009, 10:26:06

$this->bbcode_second_pass_quote('jasonraymondson', 'W')hy is a Muslim claiming to be a Missourian... we don't allow Muslims in Missouri

:lol:

I never claimed to be a Missourian. Learn to read, Army Boy. And there are lots of Muslims in MO. Six mosques in Kansas City, MO for example. :P
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Re: CA 50 Days From Financial Meltdown

Unread postby Maddog78 » Thu 11 Jun 2009, 10:39:36

$this->bbcode_second_pass_quote('Plantagenet', '')$this->bbcode_second_pass_quote('DoomWarrior', '')$this->bbcode_second_pass_quote('Armageddon', '[')size=200]Bail them out, it's only money.[/size]


Hey, Obama should adopt that as one of his mottoes !


He will....as soon as someone writes it for him to read on his teleprompter.



Bwahahaaaa. I LOL'ed at these 3.

It's sad really but what else can you do but laugh?
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Re: CA 50 Days From Financial Meltdown

Unread postby Sixstrings » Thu 11 Jun 2009, 11:01:36

Image
You know, I think I've just about had it with California -- didn't I post this same thing like four months ago? Metldown in 50 days!! Well, they didn't meltdown, they're still there and annoying as ever.

The bluffing is starting to get like North Korea, for goodness sake. Get on with it already, Cali. :-x
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Re: CA 50 Days From Financial Meltdown

Unread postby Jotapay » Thu 11 Jun 2009, 11:32:24

$this->bbcode_second_pass_quote('3aidlillahi', '')$this->bbcode_second_pass_quote('Revi', '')$this->bbcode_second_pass_quote('jasonraymondson', 'M')issouri is still holding its head above water. We will probably have a budget surplus again this year.


What? Show me!

Missouri Budget


I think Revi's making a joke. Missouri is the "Show Me" state. :P
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Re: CA 50 Days From Financial Meltdown

Unread postby 3aidlillahi » Thu 11 Jun 2009, 11:40:11

$this->bbcode_second_pass_quote('', 'I') think Revi's making a joke. Missouri is the "Show Me" state.


Jason was still making the suggestion that MO would have a budget surplus. Which they will if you believe that we'll have a GDP growth of 2.9%. I would have likely written that post exactly the same had Revi written his post or not since I was addressing the issue of MO having a surplus.
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