http://www.accessmylibrary.com/coms2/su … 646777_ITM
The eighth largest economy in the world is going down. The legislators will not pass a balanced budget and the state faces a three notch devaluing of it's bond rating, which is already listed as negative. This will cause investors to dump muni. bonds, and woe to thee, O California citizens.
This state has learned nothing since that article was published in 2003. More businesses have left, more want to leave and taxes and fees only go up and up.
Meanwhile, whole cities are being abandoned to the illegal alien invasion ( see Pomona as an example ).
I have gambled on this state. I turned down an offer of 40k to sell a portion of my business and bug out.
Why?
Because of the certainty of a crash.
Post crash, the state will have to address fundamentals. The state must go bankrupt, and it will as that is the only way to get sustainable contracts. Under current law, these budget killing contracts cannot be altered.
But they can in bankruptcy court.
After the shock wave blows away, the economy will begin to recover. It has to.
There is no bad economy, there is only a lack of a good economy.
Meanwhile, across the plains, New York goes insane.
http://wcbstv.com/politics/espada.senat … 56280.html
From 2003.Certainly one of the top problems confronting California is the unrestrained legal and illegal immigration from Mexico as well as Latin America, Asia, Russia, and the Middle East. The sheer size of this immigration invasion has already Balkanized large parts of the state and transformed many areas into Third World enclaves that are unlikely to assimilate any time soon. These huge and expanding foreign populations present serious challenges relative to national security and the threat of terrorism. Yet, while American citizens are being subjected to ever more intrusive controls and restrictions, Governor Gray Davis and the California legislature have passed legislation to provide driver's licenses to illegal aliens.
The eighth largest economy in the world is going down. The legislators will not pass a balanced budget and the state faces a three notch devaluing of it's bond rating, which is already listed as negative. This will cause investors to dump muni. bonds, and woe to thee, O California citizens.
This state has learned nothing since that article was published in 2003. More businesses have left, more want to leave and taxes and fees only go up and up.
Meanwhile, whole cities are being abandoned to the illegal alien invasion ( see Pomona as an example ).
I have gambled on this state. I turned down an offer of 40k to sell a portion of my business and bug out.
Why?
Because of the certainty of a crash.
Post crash, the state will have to address fundamentals. The state must go bankrupt, and it will as that is the only way to get sustainable contracts. Under current law, these budget killing contracts cannot be altered.
But they can in bankruptcy court.
After the shock wave blows away, the economy will begin to recover. It has to.
There is no bad economy, there is only a lack of a good economy.
Meanwhile, across the plains, New York goes insane.
http://wcbstv.com/politics/espada.senat … 56280.html