lowrentyieldmakessense(honest!) Posted June 2, 2009 Share Posted June 2, 2009 oh dear link The state wallet is empty. The bank closed. Credit has dried up, Gov. Arnold Schwarzenegger told lawmakers in a special Tuesday morning address at the Capitol.“California’s day of reckoning is here,†he said. With no action, the state will run out of cash in 14 days. Three months after the state budget was approved, California faces a $24 billion deficit. Schwarzenegger has already proposed massive cuts to education, health care and prisons. Now he’s looking for structural reform to make government more efficient and stretch taxpayer dollars. Quote Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted June 2, 2009 Share Posted June 2, 2009 the state will run out of cash in 14 days. blimey. Quote Link to comment Share on other sites More sharing options...
Wimbledon88 Posted June 2, 2009 Share Posted June 2, 2009 This makes the NASDAQ soar since March even more amazing.California is bust and one of the big reasons is the loss of taxes from workers and corporates. The biggest corporates in Cali are the NASDAQ heavy techs of silicon valley - they too have been laying off thousands of workers so how and why is the NASDAQ flying when the tech industry is in the doldrums? Apparently it is because the bw ankers think that things could be WORSE!!! This is one reason why I am expecting the markets to crash this year - the rise in the markets is built on nothing. Relax... everything's gonna be alright: Dow Will Reach 14,000 in Two Years: Strategist http://www.cnbc.com/id/31067511 “I really believe this rally is the real deal — I felt it two, three months ago,†Riley told CNBC. Riley said he sees the Dow reaching 14,000 in the next two years. He also said he is bullish on the housing front and said there will be a “scramble to buy more homes†over the summer. He is Ned Riley, CEO of Riley Asset Management. Glad he's not managing my assets! Quote Link to comment Share on other sites More sharing options...
ccc Posted June 2, 2009 Share Posted June 2, 2009 Maybe they can sell it back to the Mexicans. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 2, 2009 Share Posted June 2, 2009 This makes the NASDAQ soar since March even more amazing. California is bust and one of the big reasons is the loss of taxes from workers and corporates. The biggest corporates in Cali are the NASDAQ heavy techs of silicon valley - they too have been laying off thousands of workers so how and why is the NASDAQ flying when the tech industry is in the doldrums? Apparently it is because the bw ankers think that things could be WORSE!!! This is one reason why I am expecting the markets to crash this year - the rise in the markets is built on nothing. If Cali is screwed then it is screwed because it's tech companies are screwed... and if Cali is screwed then so is the US... and so are we! Quote Link to comment Share on other sites More sharing options...
three pint princess Posted June 2, 2009 Share Posted June 2, 2009 (edited) Boo Hoo, give us Fed Aid or we will legalize marijuana. Also the USA is an emerging market on Ultimate risk basis and the Bank of England should mark them as such on June 19th, It's time to mark everything involved with this country as high risk, including any loans where they are the ultimate source. Edited June 2, 2009 by Tom Peters Quote Link to comment Share on other sites More sharing options...
abharrisson Posted June 2, 2009 Share Posted June 2, 2009 oh dearlink Governor " We are going bust in 14 days unless we do something drastic" The people " Do what you have to just don't put up taxes or cut services or state jobs". Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 2, 2009 Share Posted June 2, 2009 Relax... everything's gonna be alright:Dow Will Reach 14,000 in Two Years: Strategist http://www.cnbc.com/id/31067511 “I really believe this rally is the real deal — I felt it two, three months ago,†Riley told CNBC. Riley said he sees the Dow reaching 14,000 in the next two years. He also said he is bullish on the housing front and said there will be a “scramble to buy more homes†over the summer. He is Ned Riley, CEO of Riley Asset Management. Glad he's not managing my assets! I think it may reach 14,000 in 2 years then again it may not. However, between 'then' and now I personally believe that a big crash is coming. Quote Link to comment Share on other sites More sharing options...
Wimbledon88 Posted June 2, 2009 Share Posted June 2, 2009 I think it may reach 14,000 in 2 years then again it may not. However, between 'then' and now I personally believe that a big crash is coming. Between then and now we have this coming. Currency crash, nuclear war, genetically-altered Jacqui Smith as world dictator... Quote Link to comment Share on other sites More sharing options...
kilroy Posted June 2, 2009 Share Posted June 2, 2009 This makes the NASDAQ soar since March even more amazing.California is bust and one of the big reasons is the loss of taxes from workers and corporates. The biggest corporates in Cali are the NASDAQ heavy techs of silicon valley - they too have been laying off thousands of workers so how and why is the NASDAQ flying when the tech industry is in the doldrums? Apparently it is because the bw ankers think that things could be WORSE!!! This is one reason why I am expecting the markets to crash this year - the rise in the markets is built on nothing. If Cali is screwed then it is screwed because it's tech companies are screwed... and if Cali is screwed then so is the US... and so are we! Standalone, California is (was?) the 8th largest economy in the world. Quote Link to comment Share on other sites More sharing options...
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