The Worlds 10th largest economy (California) goes into default tommorrow (7/1/09)

In argentina one of the (possibly a few of the) provinces started printing their own pesos to pay their debts I believe. A surefire way to piss off a cabbie was to pay him in patacones instead of pesos. LOL man we are fucked fucked fucked.
 
I'm here in sunny Southern California and will tell anyone who wants to listen that the worst for California hasn't even hit the horizon.

The municipalities are getting punch drunk from the falloff in real estate taxes. The only sales going through that everyone is hyping are at steep and I mean steep discounts. New taxes that the administration is pushing through are killing average workers and it wouldnt suprise me to find real unemployment at or around 2x the reported rate.

Whatever stimulus money came this way is already spent and whatever deficits California is staring at today will seem like peanuts to what they have coming next year at this time.
 
By the way ...just registered my car for the upcoming year ...65% increase over last year. All in $409 for the privilege.
 
Hearing the same. Cali real estate's about to hit another wave down.

Quote from AC3:

I'm here in sunny Southern California and will tell anyone who wants to listen that the worst for California hasn't even hit the horizon.

The municipalities are getting punch drunk from the falloff in real estate taxes. The only sales going through that everyone is hyping are at steep and I mean steep discounts. New taxes that the administration is pushing through are killing average workers and it wouldnt suprise me to find real unemployment at or around 2x the reported rate.

Whatever stimulus money came this way is already spent and whatever deficits California is staring at today will seem like peanuts to what they have coming next year at this time.
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Let me - gastropod - be the first on this board (and from the "goodness" of my heart) to offer $0.0002 on the dollar of each California IOU :D

Oh, it may seem cheap now, but you just wait...gimme a few months and my offer will look magnanimous LOL!!!

Sorry, I couldn't resist the gallows humor - I am only joking!

-gastropod
 
Quote from gastropod:

Let me - gastropod - be the first on this board (and from the "goodness" of my heart) to offer $0.0002 on the dollar of each California IOU :D

Oh, it may seem cheap now, but you just wait...gimme a few months and my offer will look magnanimous LOL!!!

Sorry, I couldn't resist the gallows humor - I am only joking!

-gastropod
More...

And I was just about to hit your bid...
 
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