First failed state?

[mkreku]

Apparently Calicornia is in serious trouble:

 

http://www.guardian.co.uk/world/2009/oct/0...ling-state-debt

 

20% poverty in Los Angeles! Thousands of people standing in line for hours on a parking lot to receive free healthcare! 12% unemployment rates! Insane.

 

I read this and remembered that Obsidian is situated in Orange County.. I wonder if this has anything to do with Alpha Protocol's disappearance? CONSPIRACY!

 

---

 

Oh, and this article also made me remember:

 

sorry, but that's nonsense. anything that is more socialist will bankrupt itself eventually. every where else in the world that has socialized healthcare either has sub-standard care, or they're dropping benefits in order to be able to afford it. there's a reason people come to the US for their healthcare in dire situations... it's just plain better.

 

taks

[Gorgon]

I noticed some guy mentioning that the US has a 16% unemployment rate. That's quite a lot, and with everyone expected to fend for themselves times must be hard for a lot of people.

[Gorgon]

It was that Senator who is on a crusade against the FED and regulating interest rates, I forget the name. Anyway apparently either he was full of it or I remember it wrong. 10% is the unemployment rate for the US and for California according to this http://www.bls.gov/

[HoonDing]

12% unemployment in LA, huh? Brussels, capital of Europe & seat of the wonderful NATO & European Commission, has 20%.

[Humodour]

Australia has 5.8% unemployment. Our interest rate also just went up to 3.25%...

 

10% unemployment is a pretty disturbing number. It's surprising so many countries have levels around that. Spain has had it for years I think.

[213374U]

Spain has had it for years I think.

Approx. since Bin Laden ousted our govt back in 2004. We'll be hitting 20% unemployment by the end of the year.

 

Fun, fun.

[Gorgon]

You mean the political blow-back of the Madrid bombings ?

[213374U]

Yes. Almost as masterfully planned as it was badly handled by the then-incumbent govt.

 

Cali may be the first failed state? Heh, I wonder what that means for us, if we look at the numbers. And we don't have a federal govt to go to.

[Guard Dog]

Hmmmm anyone here want to guess WHY Califonia is in such sorry shape with such high unemployment? I'll give you a hint 75% of the answer is in this paragraph:

 

Now, incredibly, California, which has been a natural target for immigration throughout its history, is losing people. Between 2004 and 2008, half a million residents upped sticks and headed elsewhere. By 2010, California could lose a congressman because its population will have fallen so much

Edited October 6, 2009 by Guard Dog

[Enoch]

Hmmmm anyone here want to guess WHY Califonia is in such sorry shape with such high unemployment? I'll give you a hint, it's all about taxes and enviormental regulations.

Yeah, the state government is almost bankrupt because taxes are too low!

 

Seriously, though, the reason the state has larger than average unemployment issues is because it was one of the regions where the housing bust had its most pronounced effects. Areas like Las Vegas, parts of Florida, and parts of Arizona were similarly hard hit. (Fun fact: Texas, which you'd normally think of as one of the more free-market-minded states, has been largely spared from the housing bust because the state had some of the most stringent regulations on the mortgage market during the boom years, capping all lending on real estate at an 80% loan-to-value ratio.) The state's budgetary issues are mostly a result of problems with the structure of the state's revenue sources (due to propositions that have limited property taxes, it is very dependent on income taxes) and constitution (lots of options are either off the table, decided by plebiscite, or subject to gridlock-inducing super-majority requirements).

[Wrath of Dagon]

Hmmmm anyone here want to guess WHY Califonia is in such sorry shape with such high unemployment? I'll give you a hint, it's all about taxes and enviormental regulations.

Yeah, the state government is almost bankrupt because taxes are too low!

Do you even understand economics at all? Lower taxes cause economic growth, which causes higher revenues in the long run. When you tax and environmentalize businesses out of the state, of course pretty soon you've got no one to tax. California has been controlled by Democrats for a long time now, and is one of the most liberal states in the country. In addition the Federal government doesn't do anything to control our borders, hence Californina is flooded with illegal aliens, so there's your 20% poverty rate.

[Kelverin]

Californina is flooded with illegal aliens

Finally a mention of the real issue, you win!

[alanschu]

Do you even understand economics at all?

 

Do you understand him going "Seriously" right after he made that comment? And perhaps the emoticon?

 

 

Lower taxes cause economic growth, which causes higher revenues in the long run.

 

It seems you don't understand economics though.

 

Taxes, like any price point, are going to have an optimal point where either increasing or decreasing the taxes will result in a net decrease in total incoming cash. It's easy, simplistic, and wrong, to simply say that lower taxes cause economic growth, which causes higher revenues in the long run, just like it's easy, simplistic, and wrong, to simply say that lower prices will cause increased sales,w hich causes higher revenues in the long run.

 

There's always an optimal point and the tough part about economics in practice is finding that point.

 

With migration between states a pretty easy thing (and taking Guard Dog's word for it), I think it's safe to say that the potential income from taxes is at least somewhat elastic as opposed to inelastic.

[Humodour]

Hmmmm anyone here want to guess WHY Califonia is in such sorry shape with such high unemployment? I'll give you a hint, it's all about taxes and enviormental regulations.

Yeah, the state government is almost bankrupt because taxes are too low!

Do you even understand economics at all?

 

Holy **** that's hilarious.

 

Enoch is probably one of the most well-read and knowledgeable people on these forums when it comes to economics, while you are... yeah.

[Gorgon]

Explain the big words from your economics class for the plebs pls.

[Wrath of Dagon]

Holy **** that's hilarious.

 

Enoch is probably one of the most well-read and knowledgeable people on these forums when it comes to economics, while you are... yeah.

So was Karl Marx. Not that I'm accusing Enoch of being a Marxist.

[Calax]

Holy **** that's hilarious.

 

Enoch is probably one of the most well-read and knowledgeable people on these forums when it comes to economics, while you are... yeah.

So was Karl Marx. Not that I'm accusing Enoch of being a Marxist.

Comparing a poster to marx doesn't refute the fact that you were incorrect in your initial post.

[Kelverin]

Holy **** that's hilarious.

 

Enoch is probably one of the most well-read and knowledgeable people on these forums when it comes to economics, while you are... yeah.

So was Karl Marx. Not that I'm accusing Enoch of being a Marxist.

Comparing a poster to marx doesn't refute the fact that you were incorrect in your initial post.

He was correct about the illegals though and E is somewhat correct but missed the immigration issue entirely.

[Wrath of Dagon]

Holy **** that's hilarious.

 

Enoch is probably one of the most well-read and knowledgeable people on these forums when it comes to economics, while you are... yeah.

So was Karl Marx. Not that I'm accusing Enoch of being a Marxist.

Comparing a poster to marx doesn't refute the fact that you were incorrect in your initial post.

I only compared him in a positive way, for the sake of the argument. And why don't you show how I was incorrect?

[Killian Kalthorne]

We should boot California out of the Union.

[Kelverin]

highest sales tax are: California (8.25%), Indiana (7%), Mississippi (7%), New Jersey (7%), Rhode Island (7%), Tennessee (7%), Nevada (6.85%), Washington (6.5%) and Illinois (6.25%).

http://www.retirementliving.com/RLtaxes.html

 

 

Top 10 most expensive ZIP codes

 

Rank ZIP Code Location County State 2005 Median Sale Price ($)

 

1 11962 Sagaponack Suffolk NY $2,787,500

2 92067 Rancho Santa Fe San Diego CA $2,445,000

3 92662 Newport Beach Orange CA $2,397,500

4 94528 Diablo Contra Costa CA $2,266,000

5 94957 Ross Marin CA $2,247,500

6 11976 Water Mill Suffolk NY $2,150,000

7 93108 Santa Barbara Santa Barbara CA $2,050,000

8 90402 Santa Monica Los Angeles CA $2,005,000

9 92661 Newport Beach Orange CA $1,996,500

10 33109 Miami Beach Miami-Dade FL $1,942,500

http://answers.yahoo.com/question/index?qi...19191917AAOCPTH

 

 

California cities such as Los Angeles, Oakland, San Francisco, and Santa Monica received

[alanschu]

Holy **** that's hilarious.

 

Enoch is probably one of the most well-read and knowledgeable people on these forums when it comes to economics, while you are... yeah.

So was Karl Marx. Not that I'm accusing Enoch of being a Marxist.

Comparing a poster to marx doesn't refute the fact that you were incorrect in your initial post.

I only compared him in a positive way, for the sake of the argument. And why don't you show how I was incorrect?

 

 

I already did, but since ignorance is bliss, you probably have me on ignore

 

Fortunately everyone else can see.

[Hurlshort]

Are we arguing that illegal immigration is the problem in California? Because it's been an issue for a hundred years, so I'm not sure how it suddenly is causing the toppling of CA's economy. The fact that construction and agriculture industries rely on illegal immigration heavily cancel out any of the negatives.

 

California is very badly run, we have a serious issue with the politicians in our state. Despite that, I'm not fleeing for the hills, there are still quite a few success stories in California. My family runs a truck company, and we have actually turned the corner after coming dangerously close to bankruptcy in the last year. We are now getting regular work, we are slowly rebuilding our fleet, and the debt collectors have been working with us to keep our business running. We haul sand and gravel and there are quite a few new construction jobs coming down the pipeline, which is very good for the economy.

 

Also, home prices have stabilized in a lot of areas.

[alanschu]

Holy **** that's hilarious.

 

Enoch is probably one of the most well-read and knowledgeable people on these forums when it comes to economics, while you are... yeah.

So was Karl Marx. Not that I'm accusing Enoch of being a Marxist.

Comparing a poster to marx doesn't refute the fact that you were incorrect in your initial post.

 

Karl Marx was never on these forums

[Gfted1]

We should boot California out of the Union.

 

 

Yes, because cutting the eighth largest economy in the world is a good idea.

 

"The state Department of Health Care Services estimates 768,400 undocumented immigrants will receive coverage this fiscal year through Medi-Cal, the health program funded by state and federal tax money. The cost: $1.2 billion."

 

http://www.contracostatimes.com/ci_13318727

 

 

Horrifying. Cant wait to see the tab on a nationwide level, you know, for all the deserving people.