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Will California become America's first failed state?

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  • Will California become America's first failed state?

    California may be the eighth largest economy in the world, but its state staff are being paid in IOUs, unemployment is at its highest in 70 years, and teachers are on hunger strike. So what has gone so catastrophically wrong?

    http://www.guardian.co.uk/world/2009/oc ... state-debt

  • #2
    It will become the first failed state where a modest starter home will cost you $500k...

    Interesting read. A bit over-the-top on the hyperbole in certain cases, perhaps for the benefit of the disconnected readership across the pond. It's not quite as destitute here as the article would have you believe. That being said, California's not in the best shape these days.

    Comment


    • #3
      Re: Will California become America's first failed state?

      Originally posted by Cooter Brown
      teachers are on hunger strike.
      Well, there's some responsible journalism!

      9 (nine - out of the thousands) teachers called a hunger strike in May and TWO lasted several weeks, after which they too quit with no 'progress' made.

      Certainly California is in extremis in many areas today, but irresponsible journalism certainly isn't helping.

      Comment


      • #4
        Further down in the piece, after all the doom, gloom and hyperbole, he has this:

        But amid the crisis there are a few sparks of hope for the future. California has long been an incubator of fresh ideas, many of which spread across the country... Jones believes California will once more change itself, and then change the nation. "California remains a beacon of hope… This is a new time for a new direction to grow a new society and a new economy," ... It is already happening... it leads the way in environmental issues.

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        • #5
          Re: Will California become America's first failed state?

          Originally posted by Cooter Brown
          So what has gone so catastrophically wrong?
          Illegal immigration of course.

          Comment


          • #6
            Originally posted by richxx87
            Further down in the piece, after all the doom, gloom and hyperbole, he has this:

            But amid the crisis there are a few sparks of hope for the future. California has long been an incubator of fresh ideas, many of which spread across the country... Jones believes California will once more change itself, and then change the nation. "California remains a beacon of hope… This is a new time for a new direction to grow a new society and a new economy," ... It is already happening... it leads the way in environmental issues.
            Kalifornia is in deep trouble. And its future is in doubt precisely because of the "environmental issue". CARB and CAL_EPA have passed major requirements on equipment manufacturers that have yet to be paid for. A couple of weeks ago, CARB sucked $690,000,000 out of an already nosediving economy, with a tax on cement and oil. Beacon of hope? More like a falling star.

            Comment


            • #7
              So what has gone so catastrophically wrong?
              In my opinion, too many of us failed to heed this advice: The Case for Governor Tom McClintock

              Comment


              • #8
                Re: Will California become America's first failed state?

                Originally posted by BillVol
                Originally posted by Cooter Brown
                So what has gone so catastrophically wrong?
                Illegal immigration of course.
                I don't think so. I don't live there, so I don't follow this on a daily basis, but it's been my impression that the voters there have simply not been willing to tax themselves to the level needed to support the services they want and expect the government to provide.

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                • #9
                  To tandfman's point- I recall Warren Buffet saying he paid more property tax in Nebraska than in California.

                  Also, the governmental rules in their state house/senate seem nothing short of insane.

                  Comment


                  • #10
                    Originally posted by bhall
                    To tandfman's point- I recall Warren Buffet saying he paid more property tax in Nebraska than in California.
                    Part of the issue is that they only pay property taxes on the price they paid (with limited increases). So if you've owned it for years then the taxes are low. In WI they keep adding 5% to the value of your property each year so property taxes are never stagnant.

                    Comment


                    • #11
                      Re: Will California become America's first failed state?

                      Originally posted by BillVol
                      Originally posted by Cooter Brown
                      So what has gone so catastrophically wrong?
                      Illegal immigration of course.
                      Wrong again. Educate yourself and then try another talking point.

                      Comment


                      • #12
                        Re: Will California become America's first failed state?

                        Originally posted by tandfman
                        Originally posted by BillVol
                        Originally posted by Cooter Brown
                        So what has gone so catastrophically wrong?
                        Illegal immigration of course.
                        I don't think so. I don't live there, so I don't follow this on a daily basis, but it's been my impression that the voters there have simply not been willing to tax themselves to the level needed to support the services they want and expect the government to provide.
                        Exactly. It seems a pretty straightforward matter of not being realistic about basic accounting issues: expenses need to be balanced by revenue.

                        Comment


                        • #13
                          Re: Will California become America's first failed state?

                          [quote=bad hammy]
                          Originally posted by BillVol
                          Originally posted by "Cooter Brown":2lz61jdj
                          So what has gone so catastrophically wrong?
                          Illegal immigration of course.
                          Wrong again. Educate yourself and then try another talking point.[/quote:2lz61jdj]

                          We may disagree, but I'm not wrong.

                          Comment


                          • #14
                            Re: Will California become America's first failed state?

                            [quote=BillVol]
                            Originally posted by bad hammy
                            Originally posted by BillVol
                            Originally posted by "Cooter Brown":30t64y8b
                            So what has gone so catastrophically wrong?
                            Illegal immigration of course.
                            Wrong again. Educate yourself and then try another talking point.
                            We may disagree, but I'm not wrong.[/quote:30t64y8b]
                            If you think the problems currently facing California are rooted in illegal immigration then you are either ignorant or a fool. A little education would go a long way . . .

                            Comment


                            • #15
                              Re: Will California become America's first failed state?

                              Originally posted by tandfman
                              Originally posted by BillVol
                              Originally posted by Cooter Brown
                              So what has gone so catastrophically wrong?
                              Illegal immigration of course.
                              I don't think so. I don't live there, so I don't follow this on a daily basis, but it's been my impression that the voters there have simply not been willing to tax themselves to the level needed to support the services they want and expect the government to provide.

                              I sure wish I could buy a house in Ohio and 30(or 40, 50, 100, etc) years later still be paying a property tax rate on the original purchase value.
                              There are no strings on me

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