If California's Economy (12th largest in the world) is too big to fail. Then who is going to come to the aid of the US because the #1 Economy is failing. Our bond ratting of AAA if lowered, will drive interest rates through the roof. Meanwhile, China is buying Gold, Silver, Mines, and Natural Resources for the collective China. They are buying weapons systems and gearing up for WAR. Remember the CYBERWAR post I put up that got NO ONES ATTENTION HERE. http://ncaabbs.com/showthread.php?tid=369181

California State Treasurer calls on U.S. Treasury for help

http://www.bizjournals.com/sacramento/st...ily52.html

California Treasurer Bill Lockyer asked in a letter to U.S. Treasury Secretary Timothy Geithner to extend financial assistance for the nation’s most populous state and other financially strapped states and cities.

Specifically, Lockyer wants Treasury to expand its Troubled Asset Relief Program -- designed to bailout the nation’s largest banks -- to include states and municipal governments.

“I am writing today to ask that you authorize extending TARP assistance to the State of California and other financially strapped states and local governments which face a severe cash flow crunch in the near term due to eroding tax revenues resulting from the current economic downturn,” Lockyer wrote in his May 13 letter to Geithner.

Lockyer is concerned that the state will not be able to raise short-term funding to smooth out its cash flows without credit enhancements from banks or the federal government. Bankers have said they may be limited in how much credit guarantees they can provide the state given the nation’s most severe banking crisis since the Great Depression.

Lockyer says that if the state cannot access the capital markets for short-term borrowing needs, California could have trouble providing essential services such as police and fire, education and social programs.

“Such a scenario could also cause major disruptions to financial markets,” Lockyer warned.

An inability to access the short-term capital markets through the issuance of so-called tax and revenue anticipation notes, or TRANs, would also trigger trouble for the state in obtaining long-term bond financing. The state of California already has the lowest credit rating among the nation’s 50 states.

“This, in turn, would slow and could eventually even halt our infrastructure construction programs,” Lockyer said.

That would be a huge hit to the nation’s unemployment picture.

The state treasurer spelled out in detail a proposed program that could help California and other troubled state and local governments raise short-term financing with the help of banks and the federal Treasury.

“Even with a balanced budget,” Lockyer wrote, “California believes its cash flow shortfall in fiscal 2009-2010 will be in excess of $13 billion.

“The enormous size of the required funding together with the state’s current credit condition and the continued weakness of the municipal finance market,” Lockyer continued, “make it highly unlikely that the state can access the short-term market for its TRAN borrowing based on its own credit.”

My heart goes out to the Golden State.

We have a lot of problems out here. The unions run the show and the politicians bow and cater to them. Then there are the activists who want to keep millions of non-tax paying illegals here while they suck up costly state services and health care. This is also the most business unfriendly state in the country and they can't leave fast enough. When they go they take their jobs and all the taxes they and their employees would have paid to the state. The state's answer to that is to raise taxes even more to compensate. I could go on for hours.....

The reason why all the trees in Nevada lean towards the west is because this state sucks.

I'm reminded of Schwarzenegger " Hollywood" style commercial to attract business to Kalifornia. You know the one that ends with "When can you start?". Crazy. But what's even crazier is the 9th Circuit. Few of their decisions do not get overturned. Those Judges are there just for the money, only.

The governator ran as a tax cutting, reduce spending, get rid of the illegals, moderate republican. He was a carbon copy of my political beliefs. When he took office he realized he couldn't do anything without the unions busting his balls so he turned into a liberal. Under his leadership the size of the state government has grown by 20% and he just gave us the single largest tax increase in the history of this country. as it stands right now, if the May 19 ballot measures don't pass (they would either increase or extend taxes) the state will be in a $21 billion dollar hole next year and this is after the previously mentioned $42 billion dollar tax increase. His has scare tactics commercials about what will happen if they fail and the unions are pushing for them because they'll continue to flourish while the rest of us hunker down. Did you know that under the state constitution one half of all the state revenues goes to the school system? One half!!! A school system, I might add, that has the highest paid teachers in the country along with the highest drop out rate in the country according to a Harvard study.

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Arnold really hoodwinked me big time.

I sat mesmerized at his eloquence as he was a Keynote Speaker during the Republican National Convention and it invigorated me and filled me with hope for our future.

I honestly have never heard such a Fantastic Speech in all my years of being active in Politics and it coming from a man who still yet could not clearly speak the English Language, just made it all the much better.

I sat glued to my chair listening to his words float out and touch the air of change I thought was coming and after he was finished, I still just sat there hardly able to believe the superb eloquence and perfect delivery of every word and nuance of this heart felt moment in time.

Then Arnold went away and I never saw him again .... where did the hope go that he so strongly championed and what happened to the change he promised was coming .... what happened to our country on November 4th 2008 that caused January 20th 2009's Cancer ???

This is the very reason I trust no one and I made a mistake and trusted Arnold because of his Super Hero Speech and like always, in my trust, I had set my self up to a higher level to fall from - - and fall I have, to a very painful thud back down to the real Earth.

The only way out of this, are for States to become Sovereign and Govern Them Selves .... and we all know what that means ..... another Civil War.

The States can no longer Support the fck'd Up Policies of the United Federal Government and the Tax Burden is just too heavy to have to bear ..... and the only way out, is to GET OUT of the Union so we won't have to Support Obama and his Mentally Ill Manic Depression Mood Swings that cost us Hundreds of Billions of New Debt every time he raises a Pen to Sign an Order or a Bill.

This is not Fear Mongering or Inciting Civil Unrest ..... this is simple observation of what we have gotten our selves into and there isn't much way out .... Obama sure as hell broke it worse than it was so he can't fix it at all.

And we put Gay Marriage and Partial Birth Abortion at the top of our Priority List for things to Accomplish ......

We are some FCK'd UP PEOPLE when setting Priorities ... you guys know that ????

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