[Robert357]

The train wreck is starting!

So Fitch lowered the State's bond ratings. But perhaps more telling, said that the State is not likely to be able to pay off the RAN's that are outstanding except by heroic short term borrowing.

Snopercod has been a big follower of State RAN & RAW debt. Remember how Connell, who won't be there, lectured the legislature that the state was facing a critical cashflow crisis unless they did certain things so she could pay off short term borrowings? Well, Fitch appears to be saying that the State is in for some real cash flow issues in the coming months.

[Positive]

For several years now I have been predicting that the illegal immigration “problem” in California would be a “self-solving” one. By that I mean, the “Peoples Republic of California” (Left Coast) will collapse into bankruptcy and then there will be no further incentive of illegals to come here…i.e. NO BENEFITS AVAILABLE!

[Ernest_at_the_Beach]

Thanks for posting this and may I recommend this editorial:

California: The tarnish on the Golden State

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