ANTIESTABLISHMENTARIAN

Finance, Fuel Prices, Economics, Markets

California Issues Rubber Checks

Rubber checks, post-dated checks, worthless promises to pay, call them whatever you like, but the lunatic state of California is now trying to pay its bills with non-negotiable pieces of paper, mere promises. Its going to be very interesting to see how long this goes on since the state does not have the money to pay up on its promises.

Ah, such is life in la la land. This is the state that supports no borders and sanctuary cities where foreigners flocked by the millions to take advantage of the Hollywood liberal free lunch. Problem is, it isn’t free; somebody has to grow the food, manufacture the goods, and cook the lunch. Only in a state of pure fantasy can an economy function without money, and that is what the dreamy folks of the golden state have done, and are still trying to do.

California needs a new nickname. It should be called the freeloader state since it has spent the last 30 years pretending that you can have your cake and eat it too at virtually no cost. It gets away with this charade by passing the costs onto others in a myriad of disguised forms. But eventually, the suckers wise up and withdraw from the great game. That is now happening to California — the suckers are now pulling out enmasse, leaving the dreamy liberals to bask in the glories of their self-created utopia, albeit without tax revenues and the money to pay the bills.

Even so, they still haven’t woken up to the fact that delusions have consequences. They continue to beggar the nation to pay their bills for them. If nothing else, it makes for amusing entertainment. Will the state become the first to be taken over by the Feds? Nothing surprises me anymore.

And even though the state is flat ass broke, the rating agencies still give it a BBB rating when it should be FFF. That’s like an individual going bankrupt and defaulting on everything but still retaining a 760 FICA score. Nothing has changed, the same insanity and corruption that caused this mess continues full bore.

July 8, 2009 Posted by miramar24 | Blowing Steam | | No Comments Yet