Just peachy old California!

Just peachy old California! (Full Version)

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Yachtie -> Just peachy old California! (4/2/2013 12:25:27 PM)
It's all just peachy[8D] Were California's state government a business, it would be a candidate for insolvency with a negative net worth of $127.2 billion, according to an annual financial report issued by State Auditor Elaine Howle and the Bureau of State Audits. The report, which covers the fiscal year ending June 30, 2012, says that the state's negative status -- all of its assets minus all of its liabilities -- increased that year, largely because it spent more than it received in revenue. Really now. What was declared in 2009 as the World's 8th largest economy is, for all realistic purposes, BANKRUPT !

Nosathro -> RE: Just peachy old California! (4/2/2013 12:38:46 PM)
Still is the 8th and in 2011 it even grew. You call that bankrupt? http://www.sacbee.com/2012/06/05/4540330/californias-economy-grew-2-percent.html I am going to use my welfare to buy a steak now.

Yachtie -> RE: Just peachy old California! (4/2/2013 12:41:00 PM)
quote: ORIGINAL: Nosathro Still is the 8th and in 2011 it even grew. You call that bankrupt? http://www.sacbee.com/2012/06/05/4540330/californias-economy-grew-2-percent.html When liabilities exceed assets, you bet I do. [8D]

Nosathro -> RE: Just peachy old California! (4/2/2013 12:44:05 PM)
quote: ORIGINAL: Yachtie quote: ORIGINAL: Nosathro Still is the 8th and in 2011 it even grew. You call that bankrupt? http://www.sacbee.com/2012/06/05/4540330/californias-economy-grew-2-percent.html When liabilities exceed assets, you bet I do. [8D] With a 2% growth...your have a funny way of looking at things.

Yachtie -> RE: Just peachy old California! (4/2/2013 12:53:13 PM)
quote: ORIGINAL: Nosathro quote: ORIGINAL: Yachtie quote: ORIGINAL: Nosathro Still is the 8th and in 2011 it even grew. You call that bankrupt? http://www.sacbee.com/2012/06/05/4540330/californias-economy-grew-2-percent.html When liabilities exceed assets, you bet I do. [8D] With a 2% growth...your have a funny way of looking at things. LMAO. [sm=rofl.gif] the state's negative status ... increased that year, largely because it spent more than it received in revenue. You do have an odd way of looking at growth[;)][8D]

MrRodgers -> RE: Just peachy old California! (4/2/2013 12:55:43 PM)
quote: ORIGINAL: Yachtie It's all just peachy[8D] Were California's state government a business, it would be a candidate for insolvency with a negative net worth of $127.2 billion, according to an annual financial report issued by State Auditor Elaine Howle and the Bureau of State Audits. The report, which covers the fiscal year ending June 30, 2012, says that the state's negative status -- all of its assets minus all of its liabilities -- increased that year, largely because it spent more than it received in revenue. Really now. What was declared in 2009 as the World's 8th largest economy is, for all realistic purposes, BANKRUPT ! We as a nation have $120 TRILLION in unfunded mandates and last count has it going up in excess of $7 million/MINUTE. You see that's what happens when you have a nation that spends almost 50% of its wealth on healthcare and debt service. Next question.

Yachtie -> RE: Just peachy old California! (4/2/2013 12:57:27 PM)
quote: ORIGINAL: MrRodgers quote: ORIGINAL: Yachtie It's all just peachy[8D] Were California's state government a business, it would be a candidate for insolvency with a negative net worth of $127.2 billion, according to an annual financial report issued by State Auditor Elaine Howle and the Bureau of State Audits. The report, which covers the fiscal year ending June 30, 2012, says that the state's negative status -- all of its assets minus all of its liabilities -- increased that year, largely because it spent more than it received in revenue. Really now. What was declared in 2009 as the World's 8th largest economy is, for all realistic purposes, BANKRUPT ! We as a nation have $120 TRILLION in unfunded mandates and last count has it going up in excess of $7 million/MINUTE. You see that's what happens when you have a nation that spends almost 50% of its wealth on healthcare and debt service. Next question. When does it stop?

freedomdwarf1 -> RE: Just peachy old California! (4/2/2013 12:59:44 PM)
quote: ORIGINAL: Nosathro With a 2% growth...your have a funny way of looking at things. It doesn't matter what your 'growth' is. It could even be 100% for all that it matters. Bankrupt means your liabilities are more than your assets = insolvent. [8\|] For once, I agree with Yachtie! [:D] (who'da thunk it?? [8D])

Nosathro -> RE: Just peachy old California! (4/2/2013 1:12:54 PM)
quote: ORIGINAL: freedomdwarf1 quote: ORIGINAL: Nosathro With a 2% growth...your have a funny way of looking at things. It doesn't matter what your 'growth' is. It could even be 100% for all that it matters. Bankrupt means your liabilities are more than your assets = insolvent. [8\|] For once, I agree with Yachtie! [:D] (who'da thunk it?? [8D]) State has not delcared bankruptcy and that is done in court.

JeffBC -> RE: Just peachy old California! (4/2/2013 1:17:15 PM)
quote: ORIGINAL: Yachtie a business, it would be a candidate for insolvency with a negative net worth of $127.2 billion Yes well, more accurately if it were a business it would be a candidate for massive bailouts. Just to put this in perspective i did some quick googling and found annual revenues in the ~100 billion range. So roughly this means the state owes about 100% of it's annual expected income. Why do I suspect the picture is much worse at the federal level. But I guess my question here is, "What's your point?" Yup, anything touched by global banking is going bankrupt -- even global banking. California is no exception any more than Cypress is.

Yachtie -> RE: Just peachy old California! (4/2/2013 1:18:26 PM)
quote: ORIGINAL: Nosathro quote: ORIGINAL: freedomdwarf1 quote: ORIGINAL: Nosathro With a 2% growth...your have a funny way of looking at things. It doesn't matter what your 'growth' is. It could even be 100% for all that it matters. Bankrupt means your liabilities are more than your assets = insolvent. [8\|] For once, I agree with Yachtie! [:D] (who'da thunk it?? [8D]) State has not delcared bankruptcy and that is done in court. WE HAVE A WINNER !!!!! [sm=rofl.gif]

FunCouple5280 -> RE: Just peachy old California! (4/2/2013 1:20:00 PM)
The government is a reflection of the people...We are all in too much debt.

Yachtie -> RE: Just peachy old California! (4/2/2013 1:21:48 PM)
quote: ORIGINAL: JeffBC But I guess my question here is, "What's your point?" Yup, anything touched by global banking is going bankrupt -- even global banking. California is no exception any more than Cypress is. What's my point? That's easy. If I could not see the dark 'Theater of the Absurd' humor in it all, I'd not have as much fun.[8D]

JeffBC -> RE: Just peachy old California! (4/2/2013 1:27:52 PM)
quote: ORIGINAL: FunCouple5280 The government is a reflection of the people...We are all in too much debt. heh... That's about as trite a phrase as I can imagine. I feel like I should toss you a dog biscuit now because you performed your trick correctly.

FunCouple5280 -> RE: Just peachy old California! (4/2/2013 2:11:56 PM)
I know, but seriously we can't take ourselves seriously in this country. We have been going through waves of foreclosure etc. and demanding personal bailouts. Yet, we whine about government debt and corporate bailouts? Sure global banking is joke. But why did we take the bait?[8\|] (secretly we wanted it to be true) I find the whole bit laughable. Eventually, the gov is going to have correct its path (via cuts, bankruptcy, monetization, etc{regardless the little guy gets fucked}) and the nasty truth will wave over us too. There really is no one to really bail us out.

DaNewAgeViking -> RE: Just peachy old California! (4/2/2013 2:23:10 PM)
quote: ORIGINAL: Yachtie quote: ORIGINAL: Nosathro Still is the 8th and in 2011 it even grew. You call that bankrupt? http://www.sacbee.com/2012/06/05/4540330/californias-economy-grew-2-percent.html When liabilities exceed assets, you bet I do. [8D] Oh? So what is your debt to equity ratio? Hmmm? [sm=dunno.gif]

LookieNoNookie -> RE: Just peachy old California! (4/2/2013 4:39:47 PM)
quote: ORIGINAL: Nosathro Still is the 8th and in 2011 it even grew. You call that bankrupt? http://www.sacbee.com/2012/06/05/4540330/californias-economy-grew-2-percent.html I am going to use my welfare to buy a steak now. Hold on....lemme think for a second....uhm....120 some billion negative net worth (as in, the value of EVERYTHING....assets less debt). Yeah....that's fucked up. Yeah....that's bankrupt(ed).

LookieNoNookie -> RE: Just peachy old California! (4/2/2013 4:47:10 PM)
quote: ORIGINAL: Nosathro quote: ORIGINAL: Yachtie quote: ORIGINAL: Nosathro Still is the 8th and in 2011 it even grew. You call that bankrupt? http://www.sacbee.com/2012/06/05/4540330/californias-economy-grew-2-percent.html When liabilities exceed assets, you bet I do. [8D] With a 2% growth...your have a funny way of looking at things. I don't know....it's just a gut feel but, I suspect he's looking at it from a standpoint of....2 trillion GDP income (figure 15% tax over all), they MIGHT pull in about 300 billion (I'm gonna assume their expenses run that or more...or....they wouldn't be in deficit)!!!!!!!!!!!!!!!!!!!, ergo....it'll be some (incredible) amount of time (assuming 10% reduction of debt annually, which is extraordinarily unlikely since their debt has grown by exponential numbers annually since 2002) that they'll be out of debt any time soon. (It's a gut feel, but I'm going with it).

LookieNoNookie -> RE: Just peachy old California! (4/2/2013 4:48:14 PM)
quote: ORIGINAL: Yachtie quote: ORIGINAL: Nosathro quote: ORIGINAL: Yachtie quote: ORIGINAL: Nosathro Still is the 8th and in 2011 it even grew. You call that bankrupt? http://www.sacbee.com/2012/06/05/4540330/californias-economy-grew-2-percent.html When liabilities exceed assets, you bet I do. [8D] With a 2% growth...your have a funny way of looking at things. LMAO. [sm=rofl.gif] the state's negative status ... increased that year, largely because it spent more than it received in revenue. You do have an odd way of looking at growth[;)][8D] (Please don't explain this shit to these people...it's worse than laughing....it's wasted effort).

LookieNoNookie -> RE: Just peachy old California! (4/2/2013 4:49:32 PM)
quote: ORIGINAL: freedomdwarf1 quote: ORIGINAL: Nosathro With a 2% growth...your have a funny way of looking at things. It doesn't matter what your 'growth' is. It could even be 100% for all that it matters. Bankrupt means your liabilities are more than your assets = insolvent. [8\|] For once, I agree with Yachtie! [:D] (who'da thunk it?? [8D]) Bud...the guy's got chops.

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