- Moderator
- #21
Forgot, more and more Asians too in CA. They always seem to have a job and money.
That's because we aren't raised with an entitlement mentality.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Forgot, more and more Asians too in CA. They always seem to have a job and money.
Did you actually read it?Where are you getting your stats? Real estate is going up here in Cali.
You never even bother to pay attention to your own state politics?
https://www.usnews.com/news/best-states/rankings/government/fiscal-stability
Best States for Fiscal Stability
Fiscal Stability Rank State
#1 ND
#2 WY
#3 TX
#4 NC
#5 SD
#6 VT
#7 TN
#8 IN
#9 UT
#10 FL
#11 VA
#12 ID
#13 DE
#14 GA
#15 WI
#16 IA
#17 MD
#18 WA
#19 SC
#20 NH
#21 MO
#22 NY
#23 NE
#24 CO
#25 AK
#26 OK
#27 MN
#28 AR
#29 MA
#30 WV
#31 MI
#32 AZ
#33 MT
#34 AL
#35 OR
#36 KS
#37 RI
#38 ME
#39 NM
#40 PA
#41 HI
#42 OH
#43 CA
#44 NV
#45 MS
#46 LA
#47 CT
#48 KY
#49 NJ
#50 IL
From your link.
"California, the most populous state in the nation, is home to Hollywood’s stars, Silicon Valley’s technology, Napa Valley’s wines and ancient Redwood and Sequoia forests. The Golden State also is one of the country’s wealthiest and most socially and politically influential, and has been since it became a state nearly 170 years ago."
What does that have to do with bad fiscal management by the state? What you never paid attention that California has a huge Unfunded Union pension bubble ready to burst?
Oh yes that's right, Trump isn't a real PresidentWhy would be bail out blue States?If Trump's tax cuts really do cause states to default, then the national debt will take a massive hit. Slashing tax revenue at the same time as bailing out a bunch of states is going to be ugly.
Ill will collapse first. Two reasons, weather and CA has more Mexicans. Mexicans will actually work when the freebies run down. I am not a racist. Forgot, more and more Asians too in CA. They always seem to have a job and money.
That state can be absorbed by surrounding states.. No reason to save it.Oh yes that's right, Trump isn't a real PresidentWhy would be bail out blue States?If Trump's tax cuts really do cause states to default, then the national debt will take a massive hit. Slashing tax revenue at the same time as bailing out a bunch of states is going to be ugly.
Well, I suppose that would lessen weaknesses of the electoral college. I'm okay with that plan.That state can be absorbed by surrounding states.. No reason to save it.Oh yes that's right, Trump isn't a real PresidentWhy would be bail out blue States?If Trump's tax cuts really do cause states to default, then the national debt will take a massive hit. Slashing tax revenue at the same time as bailing out a bunch of states is going to be ugly.
Why would be bail out blue States?If Trump's tax cuts really do cause states to default, then the national debt will take a massive hit. Slashing tax revenue at the same time as bailing out a bunch of states is going to be ugly.
Why would be bail out blue States?If Trump's tax cuts really do cause states to default, then the national debt will take a massive hit. Slashing tax revenue at the same time as bailing out a bunch of states is going to be ugly.
Insolvency occurs when the bondholders refuse to roll over the debt. Then they, the non IL resident bond holders sue in federal court under the takings cause and Caterpillar and the commodities markets move elsewhere. That is when the state finds a way to get into Chapter 3 come hell or high water.For bankruptcy, true. Not for insolvency, according to Prof Giertz-
"States can't go bankrupt, but they can become insolvent since they can't pay their bills. The question then is, what do you do then?" Giertz said.
Professor J. Fred Giertz, an economist who is director of the University of Illinois' Institute of Government and public Affairs.
State can't declare bankruptcy
I could re-post the reason it can't be Illinois. Basically, there's no mechanism for the state legislature, judiciary, or governor to declare insolvency nor bankruptcy.
(honestly, though, there's a lot I don't know)
Insolvency occurs when the bondholders refuse to roll over the debt. Then they, the non IL resident bond holders sue in federal court under the takings cause and Caterpillar and the commodities markets move elsewhere. That is when the state finds a way to get into Chapter 3 come hell or high water.For bankruptcy, true. Not for insolvency, according to Prof Giertz-
"States can't go bankrupt, but they can become insolvent since they can't pay their bills. The question then is, what do you do then?" Giertz said.
Professor J. Fred Giertz, an economist who is director of the University of Illinois' Institute of Government and public Affairs.
State can't declare bankruptcy
I could re-post the reason it can't be Illinois. Basically, there's no mechanism for the state legislature, judiciary, or governor to declare insolvency nor bankruptcy.
(honestly, though, there's a lot I don't know)
Insolvency occurs when the bondholders refuse to roll over the debt. Then they, the non IL resident bond holders sue in federal court under the takings cause and Caterpillar and the commodities markets move elsewhere. That is when the state finds a way to get into Chapter 3 come hell or high water.For bankruptcy, true. Not for insolvency, according to Prof Giertz-
"States can't go bankrupt, but they can become insolvent since they can't pay their bills. The question then is, what do you do then?" Giertz said.
Professor J. Fred Giertz, an economist who is director of the University of Illinois' Institute of Government and public Affairs.
State can't declare bankruptcy
I could re-post the reason it can't be Illinois. Basically, there's no mechanism for the state legislature, judiciary, or governor to declare insolvency nor bankruptcy.
(honestly, though, there's a lot I don't know)
Are you referring to Title III under the PROMESA law? I thought that legislation specifically excludes US states from any standing.
Insolvency occurs when the bondholders refuse to roll over the debt. Then they, the non IL resident bond holders sue in federal court under the takings cause and Caterpillar and the commodities markets move elsewhere. That is when the state finds a way to get into Chapter 3 come hell or high water.For bankruptcy, true. Not for insolvency, according to Prof Giertz-
"States can't go bankrupt, but they can become insolvent since they can't pay their bills. The question then is, what do you do then?" Giertz said.
Professor J. Fred Giertz, an economist who is director of the University of Illinois' Institute of Government and public Affairs.
State can't declare bankruptcy
I could re-post the reason it can't be Illinois. Basically, there's no mechanism for the state legislature, judiciary, or governor to declare insolvency nor bankruptcy.
(honestly, though, there's a lot I don't know)
Are you referring to Title III under the PROMESA law? I thought that legislation specifically excludes US states from any standing.
Insolvency occurs when the bondholders refuse to roll over the debt. Then they, the non IL resident bond holders sue in federal court under the takings cause and Caterpillar and the commodities markets move elsewhere. That is when the state finds a way to get into Chapter 3 come hell or high water.For bankruptcy, true. Not for insolvency, according to Prof Giertz-
"States can't go bankrupt, but they can become insolvent since they can't pay their bills. The question then is, what do you do then?" Giertz said.
Professor J. Fred Giertz, an economist who is director of the University of Illinois' Institute of Government and public Affairs.
State can't declare bankruptcy
I could re-post the reason it can't be Illinois. Basically, there's no mechanism for the state legislature, judiciary, or governor to declare insolvency nor bankruptcy.
(honestly, though, there's a lot I don't know)
Are you referring to Title III under the PROMESA law? I thought that legislation specifically excludes US states from any standing.
Insolvency occurs when the bondholders refuse to roll over the debt. Then they, the non IL resident bond holders sue in federal court under the takings cause and Caterpillar and the commodities markets move elsewhere. That is when the state finds a way to get into Chapter 3 come hell or high water.For bankruptcy, true. Not for insolvency, according to Prof Giertz-
"States can't go bankrupt, but they can become insolvent since they can't pay their bills. The question then is, what do you do then?" Giertz said.
Professor J. Fred Giertz, an economist who is director of the University of Illinois' Institute of Government and public Affairs.
State can't declare bankruptcy
I could re-post the reason it can't be Illinois. Basically, there's no mechanism for the state legislature, judiciary, or governor to declare insolvency nor bankruptcy.
(honestly, though, there's a lot I don't know)
Are you referring to Title III under the PROMESA law? I thought that legislation specifically excludes US states from any standing.Insolvency occurs when the bondholders refuse to roll over the debt. Then they, the non IL resident bond holders sue in federal court under the takings cause and Caterpillar and the commodities markets move elsewhere. That is when the state finds a way to get into Chapter 3 come hell or high water.For bankruptcy, true. Not for insolvency, according to Prof Giertz-
"States can't go bankrupt, but they can become insolvent since they can't pay their bills. The question then is, what do you do then?" Giertz said.
Professor J. Fred Giertz, an economist who is director of the University of Illinois' Institute of Government and public Affairs.
State can't declare bankruptcy
I could re-post the reason it can't be Illinois. Basically, there's no mechanism for the state legislature, judiciary, or governor to declare insolvency nor bankruptcy.
(honestly, though, there's a lot I don't know)
Are you referring to Title III under the PROMESA law? I thought that legislation specifically excludes US states from any standing.Insolvency occurs when the bondholders refuse to roll over the debt. Then they, the non IL resident bond holders sue in federal court under the takings cause and Caterpillar and the commodities markets move elsewhere. That is when the state finds a way to get into Chapter 3 come hell or high water.For bankruptcy, true. Not for insolvency, according to Prof Giertz-
"States can't go bankrupt, but they can become insolvent since they can't pay their bills. The question then is, what do you do then?" Giertz said.
Professor J. Fred Giertz, an economist who is director of the University of Illinois' Institute of Government and public Affairs.
State can't declare bankruptcy
I could re-post the reason it can't be Illinois. Basically, there's no mechanism for the state legislature, judiciary, or governor to declare insolvency nor bankruptcy.
(honestly, though, there's a lot I don't know)
Are you referring to Title III under the PROMESA law? I thought that legislation specifically excludes US states from any standing.
I didn't say they would succeed but the IL politicians are less likely to go to jail under bankruptcy so if there is some loophole such as the one given to PR, they will seek it.
Being the most populous state in the union is not necessarily a good thing. It is the quality and education of the populace that makes a state thrive.Did you actually read it? CA is #23 on the Best states list.Where are you getting your stats? Real estate is going up here in Cali.
You never even bother to pay attention to your own state politics?
https://www.usnews.com/news/best-states/rankings/government/fiscal-stability
Best States for Fiscal Stability
Fiscal Stability Rank State
#1 ND
#2 WY
#3 TX
#4 NC
#5 SD
#6 VT
#7 TN
#8 IN
#9 UT
#10 FL
#11 VA
#12 ID
#13 DE
#14 GA
#15 WI
#16 IA
#17 MD
#18 WA
#19 SC
#20 NH
#21 MO
#22 NY
#23 NE
#24 CO
#25 AK
#26 OK
#27 MN
#28 AR
#29 MA
#30 WV
#31 MI
#32 AZ
#33 MT
#34 AL
#35 OR
#36 KS
#37 RI
#38 ME
#39 NM
#40 PA
#41 HI
#42 OH
#43 CA
#44 NV
#45 MS
#46 LA
#47 CT
#48 KY
#49 NJ
#50 IL
From your link.
"California, the most populous state in the nation, is home to Hollywood’s stars, Silicon Valley’s technology, Napa Valley’s wines and ancient Redwood and Sequoia forests. The Golden State also is one of the country’s wealthiest and most socially and politically influential, and has been since it became a state nearly 170 years ago."
I presume you are referring to the debt securities issued by those states? If so, you do realize that many states and lesser jurisdictions issue debt that's "junk" simply because the issuers don't submit the issue for review. Are CA and IL public debt issuers among those entities? Off the top of my head, I don't know. Perhaps you do?IL is tiptoeing to junk status and has been doing so for decades.