California Fails, 1st time since Great Depression Options

[playr158]

California is now $42 billion in the hole and the end comes Jan. 31st....that is the last day the state will be issuing checks for tax refunds and most services

Instead you will get a piece of paper from a bankrupt state that says the state owes you money and will pay you sometime in the future.

http://www.worldnetdaily.com/?pageId=87175

"Federal law requires that many school and healthcare programs – a total of about $6.6 billion in California – must be paid, the Los Angeles Times reports, so Chiang has announced an expected payment freeze on $3.7 billion worth of the state's bills, most of it refunds owed to taxpayers.

But even with the freeze beginning next week, the Times reports, California will still fall $346 million short for the month of February, forcing Chiang to consider something only done once since the Great Depression: issuing IOUs. "


to the liberals!

This post has been edited by playr158: Jan 28, 2009 - 10:10 AM

[easternpiro1]

i was reading about the whole country eventually going bankrupt and what is there to do then but transfer to a different currency? i keep hearing about teh amero... which will be valid in US, mexico, and canada... uh oh.

[mrgrape]

i was reading about the whole country eventually going bankrupt and what is there to do then but transfer to a different currency? i keep hearing about teh amero... which will be valid in US, mexico, and canada... uh oh.

!!!! another fellow, that knows about amero on 6gc, ****! hell yeah ure with me.
READ HERE: ive got an A on my ECON FINAL due to this.....and this is college level.
This is a really strong theory thats being taken in action....Bush i think in 06 signed the north american union bill, which HAD NO MEDIA COVERAGE WHAT SOEVER...
anyways i think dollar is soon gonna be like the sterling and lose LOTS of its value, pretty much robbing americans due to the FED printing money and with Obamas new stiimulus bill, it will make america CONSUME more and SPEND more, the PRIMARY CAUSE why WE are in a recession...this will lead to a depression, and with Obama being the new "change" everyone sees(built by corporate banks i believe), America will listen to Obama and think he will take care of it, in which he creates a new system, a new currency the AMERO...
NOW if this happens, i know for a fact America is controlled by people who owns banks.....im still waiting for this to happen....im still researching.
but if u guys really want a solution to this economic mess, LISTEN TO RON PAUL.
ESPECIALLY on ECONOMICS.