State of NJ....Is Insolvent

L

libertad

http://globaleconomicanalysis.blogspot.com/2008/11/state-of-new-jersey-is-insolvent.html

One would question how many states are insolvent ?

One would question...if not for the ability to print money....would the US be solvent ?

Could be that quite a few insolvent countries will be printing currencies......

Wonder what happens when they all run out of printing materials...

Perhaps companies that sell money printing facilities are doing well ?

Or are they just getting paid with freshly printed bills as well ?
 
And the situation is about to get worse.After the residential mortgage debacle comes the commercial real estate debacle.And we are not talking about a few shops.Huge hotels and entire shopping malls will fail.The states can raise taxes but they are going to collect less.
 
Hawai'i runs a surplus, believe it or not. A 4% Excise tax (effectively a sales tax) hits the tourists and funds big government there. Federal spending on the bases (Schofield Barracks, Pearl Harbor, Hickam AFB, Kaneohe Marine Station) helps as well.

One of those places where I like to see high taxes. It acts to keep a lid on population growth and commercial activity, thus preserving the natural environment.

Now of course Obama is gonna send lots of pork there as well ... hahaha!

F*ck the Mainland!!!!

ROTF

PS: Please still come for vacation ... Aloha! :D :eek:
 
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