Strangely enough....there are dozens of comparisons to the two.
The actual problems that brought both to their knees? It’s been in the works for a minimum of three decades.
Political figures from the left and right helped both countries achieve their problem.
Teachers and professors in both countries have salary structures that make you laugh. Then they retire, and continue to collect pensions that the average guy can only dream of.
Everyone wants to come and visit Greece/California, but no one of real substance wants to permanently live in either and pay the taxes.
I could go on....but why bother? The curious thing here is that Greece will likely collapse and several governments will come and go. The question is what happens with California? Will the Fed’s save them or let them crash?
Near bankrupt, over-indebted, overspending nanny state, drowning in future liabilities.Or as Obama said we can spend our way out of this.
Actually, California’s down-slide is not like Greece at all. Greece is to Europe as Mississippi is the the USA. A far better, and more ominous comparison would be to assume that it were Germany, France, or the UK in the same financial mess as California.