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About LinkBacksJust thought this Observer/Guardian article was quite interesting:
Will California become America's first failed state? | World news | The Observer
It seems California's situation is increasingly dire.
Just thought this Observer/Guardian article was quite interesting:
Will California become America's first failed state? | World news | The Observer
It seems California's situation is increasingly dire.
California is the world's 8th biggest economy - this affects all of us
Last edited by rhonda15; 5th October 2009 at 01:20 PM.
"The individual is handicapped by coming face to face with a conspiracy so monstrous he cannot believe it exists.'' ~ J. Edgar Hoover
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Well it will have a huge impact on US recovery prospects, it's a massive chunk of the US economy.
California is extremely fragile. Another financial tsunami will be horrific. Its tragic and hard to comprehend, it is such a beautiful place.
"No one rules if no one obeys" - Tao
As failed states go with beaches and blondes ............its one of the better ones.
How can the place with Silicon Valley, LA, Hollywood etc go bankrupt?
Seems by doing pretty much what Ireland did, just on a bigger and even more reckless scale! We were using a somewhat watered down version of Calinomics were we not?Originally Posted by toughbutfair
Republican Party economic and social policies.
Fianna Fail - The Loss of Sovereignty Party.
1) IT Sales are down massively world-wide
2) Hollywood is ultimately dependent on advertising revenues and discretionary spending.
3) The IT industry and movie business are rapidly moving out of what has become over-priced California. Huge numbers of US movies are no longer shot in Hollywood and the IT industry is global these days. Silicon Valley is just one of many centres.
The biggest issue in California though seems to have been MASSIVE over borrowing and over lending. In essence it was a 'soufflé economics'. Looks impressive, but if you even look at it funny, it can collapse.
Too much democracy.
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