Posted on 06/22/2009 4:12:07 PM PDT by traumer
Washington and Wall Street seem to be treating California as if it were a sideshow in the financial circus of these turbulent times.
It’s not.
California is home to the largest manufacturing belt in the United States and to Silicon Valley, the nation’s largest high-tech center.
California is America’s most populous state with 38 million people. Its GDP of $1.8 trillion is the largest in the U.S. Its economy is bigger than those of Russia, Brazil, Canada, or India. And it’s collapsing.
Major California counties are ground zero in the continuing mortgage meltdown:
Los Angeles County with 5.32 percent of mortgages 90 days past due … Monterrey County, 8.02 percent … Imperial, 8.13 … San Bernadino, 8.66 … Madeira, 9.21 … San Joaquin, 9.53 … Riverside, 10.2 … Merced, 10.57 … and more!
California’s inventory of foreclosed homes is skyrocketing. Home prices are plunging. And the impact of surging unemployment is just beginning to show up in the data …
Worst Unemployment in 64 Years
The state’s unemployment rate has surged to 11.5 percent, the worst since World War II
(Excerpt) Read more at moneyandmarkets.com ...
America-Take a look at what the future has in store for you.
California isn’t collapsing. The state of California is. Maybe they’ll be better off afterwards.
Three of the counties named are misspelled by the author.
The moment Democrats took national power that unemployment started skyrocketing.
Things left to themselves tend to go to the lowest common denominator. What a free fall they are having. When someone wants to have all the control and then loose control and it is out of their control look what happens.
Does that mean we can start calling the dems the "party of no"? No? Didn't think so....
Is dissent still unpatriotic?
California is run by arrogant Liberal schmucks from the Governor on down. They’ve destroyed the state and want to blame the taxpayers for being cheap and not giving them more. Everyone I know wants to clean house here in CA and at the federal level. Never in the history of this country have we had so many national disgraces in office. They’re arrogant, they’re corrupt, they’re ego maniacs, and most of them aren’t worthy of being called Americans, IMO.
A little painful chaos can be a good thing.
Revelation 9:20-22 The rest of mankind that were not killed by these plagues still did not repent of the work of their hands; they did not stop worshiping demons, and idols of gold, silver, bronze, stone and wood— idols that cannot see or hear or walk. Nor did they repent of their murders, their magic arts, their sexual immorality or their thefts.
You have too much unbridled fun with an unlimited credit card it is going to hurt when it is taken away. The pain will fix things. California will survive but the big spending politicians will not.
OUCH did they feel that?
I left in 2007. The writing was on the wall.
And the uneducated voters of California will return 99% of the Democrats back into office, while making sure a Democrat gets elected Governor. After all, the Media will have them convinced by the next election that it’s all Arne’s fault.
So what does all this tell us? It tells us that no matter how bad things get, the people will always blame the Republicans and the rich. That is unless that rich person is a lazy schizophrenic Hollywood actor or an out of control sports hero.
Amen to that, and a lot (like Arnie) have an "R" next to their title.
California Collapsing?
Obama’s Fault!!!!!
Lift all drilling bans, and the problem will be mostly fixed. Then drop taxes, and dump the “progressives”.
That’s right. CA is fine. It’s the govt that’s collapsing. When the govt’s collapsing, stamp on it.
“The moment Democrats took national power that unemployment started skyrocketing.”
Just another isolated incident, signifying nothing. Nothing to see here, keep moving.
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