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Posted: Tue Dec 11, 2012 10:09 am
by GORDON
Was thinking about things, freely associating, as I do.

Was thinking about how Greece is a bit of a canary in the coal mine when it comes to European economics and politics... there, they have a culture that spends more than they make in order to ensure the liberal, barely-work, retire-early lifestyle. Additionally, Greeks as a culture don't seem to care about paying their taxes in the first place. Last I heard, Germany was keeping Greece afloat until the next vote when Greece will not fix their problems.

That got me to thinking about California, which admittedly, has a larger economy than a great majority of countries on the entire planet. But, they are also voting themselves into a hole lined with free candy. Border security is a facade, they work to reward millions of illegals who got in and stayed, and they never met a new social program they didn't like in spite of the cost. In defiance of the cost, it seems at times.

And obviously the USA as a whole is having some spending problems. I don't need to reiterate them... it would be racist of me to suggest that it isn't wise to spend more than one can afford.

So, that gets me wondering... perhaps as goes California, so goes the country. CA politicans no longer have the will to try to defy the population of the greater San Francisco area, just as the east and west coasts don't seem to care at all about fiscal responsibility of the country. Worst of all, there is absolutely no fiscally responsible party left in this country with a chance of getting elected to enough seats to make a difference. There is absolutely no hope of fixing the economic problems of the country in the foreseeable future... something bad is going to have to happen before anything changes.

So.... I figure California will drop first.

Let's use this thread to post all of the suicidal things California is doing.

I'll start.

California schools owe $1 billion on $100 million in loans they've taken.

This is close to home for me... my local school district also tore down a perfectly good school built of stone and brick in the post WW2 era in order to qualify for millions in federal loans to build a new school. Now the economy is tanked, and they are talking about laying off teachers and increasing class sizes in order to pay the bills. Thanks, assholes!




Edited By GORDON on 1355238682

Posted: Tue Dec 11, 2012 10:55 am
by Malcolm
Was thinking about how Greece is a bit of a canary in the coal mine when it comes to European economics and politics...

I disagree. Are there other countries like them? Yeah. There are others that ain't. The U.K. is probably a few years from opting out of the EU if they don't get their shit together.

California has its own special brand of insanity due to the dense concentration of crazy in most of their metropolitan areas.




Edited By Malcolm on 1355241400

Posted: Tue Dec 11, 2012 12:51 pm
by Leisher
Why do the schools need to borrow money to get money? That seems really stupid.

Why borrow $2.5 million to get $25 million, and then build a new school for $25 million?

Because a $10-20 million dollar school would be a piece of shit?

Why not immediately repay the loan and then work with the money you have left?

It's this short sightedness that gives socialism an audience in this country.

Posted: Tue Dec 11, 2012 1:31 pm
by TPRJones
Well, that was most likely a federal educational block grant, which means it works on a sort of dollar matching thing. For every $1 they spend on the new school they get $10 of federal money. And every individual expense is reported to make sure all the matching is being done. Can't get the $25m without spending the $2.5m in the process.

Posted: Tue Dec 11, 2012 1:52 pm
by Leisher
Well, that was most likely a federal educational block grant, which means it works on a sort of dollar matching thing. For every $1 they spend on the new school they get $10 of federal money. And every individual expense is reported to make sure all the matching is being done. Can't get the $25m without spending the $2.5m in the process.


Which is a really stupid way of spending.

So none of their accountants could make the $2.5 million loan part of their spending?

And if you don't have the $2.5 million to spend, then you shouldn't be getting the $25 million (under those terms) in "free" money.

Nothing is free.

Posted: Tue Dec 11, 2012 1:57 pm
by TPRJones
Yes. No, that would be illegal. Yes. Agreed.

Posted: Tue Dec 11, 2012 2:39 pm
by Leisher
No, that would be illegal.


Thank goodness stupid financial policies that are driving our school systems into bankruptcy aren't!!!

Posted: Tue Dec 11, 2012 3:10 pm
by Leisher

Posted: Tue Jan 01, 2013 3:03 pm
by GORDON
No longer allowed to carry an unloaded rifle in cities, and illegal immigrants can legally get a driver's license and financial aid for college.

http://timelines.latimes.com/new-state-laws-2013/

One assumes they are not studying immigration law, since it doesn't seem to mean anything.

Posted: Tue Jan 01, 2013 6:57 pm
by Paul
Adam Carolla complains about CA a lot. The cost of operating in CA is incredibly high.
He can do a 1,500 person show in Oregon and make $20k profit. He makes a fraction of that when he has a show in CA due to the unions and increased fees. He can make a lot more money by flying him and his crew to other states to perform.

Businesses are fleeing because the taxes are too high, and keep getting higher.
He finds it ironic that the liberal Hollywood actors talk about the rich needing to pay their fair share. Then they leave their Malibu mansions to go out-of-state or to Canada to film movies that could have easily been shot in L.A. (some even take place in L.A.). But no, it's cheaper to fly an entire crew out of state (and board them) and haul out all that equipment than it is to pay the taxes and buy the permits and put up with all that red tape they have in CA.

For all the taxes they pay the freeway signs are still covered in barbwire or graffiti, and the public school system is atrocious.

(He may have talked about this stuff in his latest podcast (with Andrew Brietbart).




Edited By Paul on 1357084724

Posted: Tue Jan 01, 2013 7:00 pm
by Malcolm
(He may have talked about this stuff in his latest podcast (with Andrew Brietbart).

Latest podcast? Andrew's been dead since early March of '12.

Posted: Tue Jan 01, 2013 10:13 pm
by Paul
He's not taping during the holidays so they're re-releasing old podcasts.
The latest one on my iPod is that one, and I think they talked about L.A. then.

Posted: Mon Jan 21, 2013 1:28 pm
by GORDON
New pension rules are bankrupting 6 CA counties.

http://www.foxandhoundsdaily.com/2013....ounties

Posted: Mon Jan 21, 2013 3:28 pm
by Malcolm
GORDON wrote:New pension rules are bankrupting 6 CA counties.

http://www.foxandhoundsdaily.com/2013....ounties
Like anyone'll notice.

Posted: Thu Jan 24, 2013 1:31 pm
by Malcolm
Cali's "State of the State" address.
Still, Brown urged caution as the state prepares for its first budget surpluses in years. California's progress, he said, relies on financial discipline.

Posted: Fri Feb 08, 2013 9:28 am
by Paul
Taxes are going up again in CA.
“It’s definitely the highest in the United States,” said David Kline, a vice president of the California Taxpayers Association, a taxpayers’ advocacy organization. “What we like to point out to people is that there are states with absolutely no personal income tax — so if you moved from California to Florida, and you are in a high-income bracket, you are automatically giving yourself a 13.3 percent raise.”

“Taxes have to be a very important part of the equation,” Mr. Schiller said. “If you are talking about an income tax of 13 percent on a millionaire in California and an income tax rate of zero percent on a millionaire in Nevada, to argue that it doesn’t affect a millionaire’s locations decision is to say all millionaires must be stupid.”

Posted: Mon Feb 25, 2013 8:43 am
by GORDON
Corrupt public employee pension fund has california in a debt hole it can't ever get out of.

http://www.city-journal.org/2013/23_1_calpers.html

And the hole gets deeper every day.

Posted: Mon Feb 25, 2013 10:18 am
by Malcolm
Their paper on Cal- PERS’s panic selling in 2008 notes that the cash-hungry fund sold 2.3 million shares of Apple Inc. for $370 million; those shares would be worth nearly $1.5 billion today.

Wait, wait, wait. The hippies were afraid to invest in other hippies and it cost them money? HAHAHAHAHAHA.

/cartman




Edited By Malcolm on 1361805517

Posted: Mon Feb 25, 2013 10:28 am
by TPRJones
Such dubious practices have piled up a crushing amount of pension debt, which California residents—and their children—will <s>somehow have to repay</s> move out of the state to avoid repaying.

Fixed.

Posted: Mon Feb 25, 2013 10:33 am
by GORDON
TPRJones wrote:
Such dubious practices have piled up a crushing amount of pension debt, which California residents—and their children—will <s>somehow have to repay</s> move out of the state to avoid repaying.
Fixed.
State bailout from the feds, and nothing will get fixed.