The world's 8th biggest economy is in trouble:

[ms]

George Washington's Blog
Friday, Dec 12, 2008

The world's 8th biggest economy is in trouble:

Governor Schwarzenegger declared an emergency and says that California is near "fiscal Armageddon"
The state budget gap could reach $41.8 billion by 2010
Standard & Poors has downgraded California's bonds again
Wall Street giants are urging investors to bet that California will go bankrupt
What would it mean if the world's 8th largest economy failed? It wouldn't be pretty.

Forget the automakers. Help California. Aid to states is the fourth best bang for the buck in terms of stimulus. And it could help prevent the 50 pieces of America from failing one at a time.


 

[Syncerus]

The fiscal mismanagement of California by the Democratically controlled state senate is criminal. Far from helping California, the entire Senate should be stripped naked and publicly whipped as they trudge on foot down Highway One from the Bay to Los Angeles.

You can't help stupid.

[billy_56081]

I wouldn't shed tear one if Kalifornia fell off into the ocean. Only bad thing about if it fails is the wierdos that live there will move other places if the economy gets to bad.

[Brett]

Only bad thing about if it fails is the wierdos that live there will move other places if the economy gets to bad.

Good grief!  That's reason enough to bail California out.  Where can we sent our donations... oh, and some of our own weirdos.   

[victorcharlie]

The fiscal mismanagement of California by the Democratically controlled state senate is criminal. Far from helping California, the entire Senate should be stripped naked and publicly whipped as they trudge on foot down Highway One from the Bay to Los Angeles.

You can't help stupid.

I don't think I could have said it any better.   They chose the road there on.  If Californians don't like it they should vote to change it.  If they do like it then they need to continue down the same direction.  No, no bail out.

[alsaqr]

Kalifornia has bankrupted itself taking care of those millions of illegal aliens.  It would be nice to see the entire state of Ca reduced to the level of East St. Louis. 

[Questor]

Twenty five years ago California had a pretty good economy, with many good sized companies. Today, most of those big companies are mostly gone because of the unfavorable business climate there. Last time I was in San Francisco I learned that the big companies with significant buildings in downtown only stay because of the rent controls that keep the city attractive. California has a lot of nice small businesses because lots of people want to live there. The state and the big cities make it difficult for a lot of them to operate, though.

I don't know what they're complaining about, though. Now that the US and Canadian dollars are worth about the same, the Toronto film making industry has practically collapsed and moved back to Hollywood.

[billy_56081]

Only bad thing about if it fails is the wierdos that live there will move other places if the economy gets to bad.

Good grief!  That's reason enough to bail California out.  Where can we sent our donations... oh, and some of our own weirdos.   

I think we need to add a stipulation to the bailout, an electrified fence with one way gates that only let em in not out.

[Questor]

If there have to be stipulations make one of them shall-issue concealed carry, 100 new shooting ranges near urban areas, and allowing firearms to be transported and owned anywhere in the state.

[Dee]

The fiscal mismanagement of California by the Democratically controlled state senate is criminal. Far from helping California, the entire Senate should be stripped naked and publicly whipped as they trudge on foot down Highway One from the Bay to Los Angeles.

You can't help stupid.

Syncerus, you could replace the word "California", with United States, replace "Democratically controled" with "Republicans and Democrats", and the statement would still fit.

And your right. You can't help stupid. Our federal government just hasn't made the bankruptcy announcement yet. But it's coming. I am read for Texas to secede AGAIN!

P.S. I also think anyone bordering on bankruptcy should be allowed to suffer the consequences of BAD MANAGEMENT.

[myronman3]

as much as i HATE to admit it, i agree.   i see last week wisconsin's illustrious governer was in washington with his hand out.  pathetic.  how about doing your job, jimmy?   with all the taxes i pay, you should be swimming in money.  how the hell is it that in one of the highest tax states, we are in need of a bailout?  bullroar, let it go down in flames.  and, man up, take the blame.  whatever happened to the "the buck stops here."?
   to hell with the states that need a bailout, and to hell with the buisnesses that are going belly up.  any assistance is merely putting off the inevitable.  it is going to happen.   
   and now there are rumblings about a second mortagage crissis that is going to be worse than the first.     yup, things are going to get worse before they get better. 

[ms]

as much as i HATE to admit it, i agree.   i see last week wisconsin's illustrious governer was in washington with his hand out.  pathetic.  how about doing your job, jimmy?   with all the taxes i pay, you should be swimming in money.  how the hell is it that in one of the highest tax states, we are in need of a bailout?  bullroar, let it go down in flames.  and, man up, take the blame.  whatever happened to the "the buck stops here."?
   to hell with the states that need a bailout, and to hell with the buisnesses that are going belly up.  any assistance is merely putting off the inevitable.  it is going to happen.   
   and now there are rumblings about a second mortagage crissis that is going to be worse than the first.     yup, things are going to get worse before they get better. 

This is because we are at war more people are out of work.

[Syncerus]

What war are you talking about? In WWII we had a population of 130 million, of which 10 million were under arms. Calling the events in Iraq and Afghanistan a war is a **joke**.

[myronman3]

i dont think it is much of a joke at all, especially to those who have been killed, wounded, or serving; or those who have had friends or family that are serving, wounded, or killed. 

also, being at war has nothing to do with it.  the media, greedy ceo's, politicians,  bad loans, personal fiscal irresponsibily, and horrible buisness decisions put us where we are now.  the two wars have little to nothing to do with it. 

[alsaqr]

the media, greedy ceo's, politicians,  bad loans, personal fiscal irresponsibily, and horrible buisness decisions put us where we are now.

+1

[Heather]

Well I didn't think I would be saying this anytime soon, but I agree with Dee and Myronman!    Seriously you all know by now that I see the term bailout as always a bad thing, especially when you are talking about our Government taking our tax dollars to bailout financially incompetent morons!  California is no different than the poor mortgage companies, banks, and auto makers.  They all made their own bed and they should lie in it.  I know I know I'm evil.  All of those poor people would loose their homes, their jobs, or their pensions.  Oh well better them than me.  I didn't screw up so why take what little money I do have to bailout someone else.  I may sound cold hearted but my income needs to support my 3 kids, NOT the 8th biggest economy in the world or the company of the day with their hand out.

Heather

[Dee]

Heather, I sold a very successful trucking business and bought into the house market. I took a soaking and lost all invested. I am just now getting back on my feet I HOPE. No one bailed me out, nor did I ask, or expect anyone to. I am 59 years old, and will probably work the rest of my life, or as long as I am able. Mad? No, just disappointed that I made a bad investment, and it failed. If I can do it, so can an over paid union auto worker, or his millionaire boss.

[rex6666]

I believe if you check back through the history of the US more people
are employed in war time, maybe we need to make the war bigger.
Ask anyone in the trucking bus. if Califruty is part of the US and you will get a no.
they have more rules on the trucking industry than any other state and more
and bigger fines.

[Dee]

You got that right on California and the trucking business. Been there and done that. They have caused most of their own problems.
AND. There are rumors that a certain company, (Rand Corp) is partitioning the Pentagon to EXPAND the war as it is not LARGE ENOUGH to help the economy.

[Syncerus]

When I referred to the "War" in Iraq as a joke, I was referring to the use of the word "War" as an excuse for the economy. If even one person dies, it's obviously a tragedy for his family. The current situation in Iraq is more accurately described as a police action. It's just not reasonable to compare it to events like the assault on Iwo Jima, the battle of the Hurtgen forest, the Bataan death march or the battle in the skies over Europe in 1943 and early 1944, where units frequently took 50% casualties and deaths were measured in the 10s and 100s of thousands.

I'm not minimizing the suffering of those who have paid the ultimate price or their families. The suffering is real and is identical in both circumstances; but the circumstances ARE different.

[myronman3]

thanks for the clarification, i understand your point much better now. 

All of those poor people would loose their homes, their jobs, or their pensions.  Oh well better them than me.  I didn't screw up so why take what little money I do have to bailout someone else. 

  it doesnt matter whether we 'bail them out' or not.  the way it ends is going to be the same.  you are not going to change anything.  you will at best delay it, and true be told, that wont even happen cause some s.o.b. will likely pocket the money so it wont do any good anyway.  these states with their hands out (mine is one of them ) ought to be ashamed of themselves.   does anyone notice that the states with their hands out are the more liberal states?   between the illegals and the entitlement programs, it is inevitable.  oppose this crap, dont buy into the idea for a second.   it will just make it worse when it does come crashing down.

[gypsyman]

No different than life boats around the main ship. When the liner is going down, and all the life boats are floundering, and people keep climbing in and sinking the remaining life boats, pretty soon there arn't any life boats left. The government is forcing the survivors to help the floundering. gypsyman

[billy_56081]

Most of the reason our economy is in so much trouble, is that so many people over spent and made bad investments. I have a neighbor who lost the millions he had made on the sale of his business. He was too blinded by greed that he could not see that the housing market as well as most of the markets were going to crash. There are many here who got greedy and got what they deserved, the whole of Kalifornia is just like the rest of Americas liberal investors. I myself put my retirement in low fixed interest accounts as soon as they started talking about the stock market hitting record highs. I put alot of my personal savings in Gold, now I have cashed that in and have it in a fixed interest account. The greedy liberal investors need to crash as Kalifornia does. Don't blame this on the government it was your own personal greed that got you into this mess.

[myronman3]

glad you came out good billy.  problem is, you can call people greedy, and say they deserved it all you want, but the fact is ALOT of regular people lost alot of money.  we arent talking millionares, we are talking regular folks just like you and me who lost a good part if not the majority of their retirement.  i, like you, had good timing.  but i dont think it is right to say that those who didnt have good timing "deserved it".  certainly, some had it coming, but i think most folks who lost money didnt deserve it.   
   be thankful for and dont be blinded by your good fortune.   

[Troyboy]

I'm just gonna keep my mouth shut and listen to what is said, but most of california's problems are related to the minority majority

[mrbigtexan]

let 'em sink, maybe they will open their eyes and close their mouths!

[gypsyman]

Billy, I agree that a good percentage of the U.S. economy problems are due to greedy investors,bankers,and business. But as far as California is concerned, I'ld put the majority of the blame on stupid,liberal,asinine,no common sense politicians. Lets feed,house,school,cloth, every illegal Mexican that comes across the border. Free health care. Tax industry till it leaves the state, and then wonder why the state doesn't have any money. Hollywood movie stars with to much coke up their nose, bleeding heart liberals that make way to much money for what they do, pushing the state into oblivion. Unfortunatly, there are alot of good, hard working people in California. I hope they had the good sense to stock up on food,guns and ammo. gypsyman

[Brett]

Well I didn't think I would be saying this anytime soon, but I agree with Dee and Myronman!    Seriously you all know by now that I see the term bailout as always a bad thing, especially when you are talking about our Government taking our tax dollars to bailout financially incompetent morons!  California is no different than the poor mortgage companies, banks, and auto makers.  They all made their own bed and they should lie in it.  I know I know I'm evil.  All of those poor people would loose their homes, their jobs, or their pensions.  Oh well better them than me.  I didn't screw up so why take what little money I do have to bailout someone else.  I may sound cold hearted but my income needs to support my 3 kids, NOT the 8th biggest economy in the world or the company of the day with their hand out.

Heather

A great big +1 Heather

[jgalar]

Put a fence around California and let them work it out themselves.

[ms]

I guess 4 dollar gas had nothing to do with it or the war.