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Ted

"the Truth Is That California Is In A State Of Emergency."

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SACRAMENTO, Calif. (AP) — Gov. Arnold Schwarzenegger on Thursday called California's massive budget deficit a "rock upon our chest" and said the state can address no other policy issues until the crisis is resolved.

"The truth is that California is in a state of emergency. Addressing this emergency is the first and greatest thing we must do for the people," the governor said in his State of the State address before a joint session of the Legislature. "The $42 billion deficit is a rock upon our chest and we cannot breathe until we get it off."

California's budget deficit is expected to soar past $40 billion over the next year and a half, the financial and construction industries have been decimated by the housing collapse and unemployment is on the rise.

http://www.google.com/hostednews/ap/articl...pjglpAD95NPF401

Eighth largest economy in the world in trouble. Hmm,bearish?

Edited by Ted

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Bail me, If you want to live

We do work for the state (bio-remediation). Just received a "state IOU". Usual hard money discount is 20%-the robbing barstools. Luckily we don't need the money (yet) but it's scary out here-even with Big Arnie watching over us.

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The gov'ner about the posibility of defaulting on the states municipal debt

If it bleeds, we can kill it

Presumably before it kills the state

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he needs to find the bad guys who have the $50bn in a suitcase. I think he should chase them in a huge industrial lorry mounted crane!!! awesome!!!

This made me laugh so hard :) , keeps these coming guys I need a good laugh.

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Guest sillybear2
We do work for the state (bio-remediation). Just received a "state IOU". Usual hard money discount is 20%-the robbing barstools. Luckily we don't need the money (yet) but it's scary out here-even with Big Arnie watching over us.

So if dollars are baseless IOU's printed at will... you've just been given a IOU for an IOU? :(

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Listen, and understand. That debt is out there. It can't be bargained with. It can't be reasoned with. It doesn't feel pity, or remorse, or fear. And it absolutely will not stop, ever, until you are dead.

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So if dollars are baseless IOU's printed at will... you've just been given a IOU for an IOU? :(

Similar to "Payment in kind" - just rolling over their own debt into a giant Ponzi scheme, until the whole thing collapses or they print money.

Dangerous game printing money

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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