Saturday, July 7, 2012

CALIFORNIA FINANCIALLY BUSTED YET CONTINUES TO SPEND!!!


Check out Dave Levine's comments (link below) on the "idiot Dems" ramming through a vote in favor of a bullet train that seems designed to wreck the state economy. Obviously this goes along with the notion that using cars increases the carbon level in the environment and that using an alternative to the car, even one propelled inefficiently by carbon-fired facilities, is somehow better. However, no one knows at this point whether people will be able to afford the bullet train or who will pay for the boondoggle. There are now 3 towns in CA that are either bankrupt (Vallejo and Stockton) or are about to be bankrupted (Mammoth Lakes), and the state has long bidden farewell not only to its collective sanity but also to manufacturing industries repulsed by high taxes and childish regs. Dems are little children who think they can pull money out of the air and are surprised no end when that theory fails the reality test--no matter how many times they are smacked in the faces with reality.
Here comes another big rusty nail in CA's coffin.
Of course, Dems always have the hope that the feds will bail them out.
Greece also dreamed that dream, believing the Eurozone would come to their rescue with the European Stability Mechanism.
The trouble is twofold: firstly, the ESM has not been approved (Germany and allies are balking) and secondly, the sources of the ESM's funding are extremely limited, and include 2 near-bankrupt nations, Spain and Italy, as well as other strapped nations. Soon, instead of contributing their share, those 2 nations (possibly joined by spend-thrift France) will join Greece for more money from the trough. And the still-sane northern alliance will not allow more money printing (à la QU 1 and 2. They LIVED the Weimar debacle).
CA dreams the same vain dreams and expects to be bailed out by an increasingly impoverished federal government.
It is a train wreck about to happen--on both sides of the pond.
The West is clearly committing suicide, addicted to a wealth redistribution policy that has failed in every country that has tried it.
No, Virginia, the Soviet Union is not dead.
Don Hank

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