California bill could create sanctuary state for non felon illegal immigrants

[georgephillip]

No garage, so no car.

So, she wants CA to own a bank so they can store the money they don't have.

Are you saying I'm stuck with buses and subways for the duration?
OK...fine.

As to Ellen's prescription for California's financial woes, i think the plan is to keep billion$ in state revenues within California instead of shipping them off to Wall Street where they're often used to speculate against the best interests of Californians.

2% mortgages?
Credit cards capped at 6%?

"California is the eighth largest economy in the world, and it has a debt burden to match.

"It has outstanding general obligation bonds and revenue bonds of $158 billion, largely incurred for infrastructure. Of this tab, $70 billion is just for interest. Over $7 billion of California’s annual budget goes to pay interest on the state’s debt.

"As large as California’s liabilities are, they are exceeded by its assets, which are sufficient to capitalize a bank rivaling any in the world. That’s the idea behind Assembly Bill 750, introduced by Assemblyman Ben Hueso of San Diego, which would establish a blue ribbon task force to consider the viability of creating the California Investment Trust, a state bank receiving deposits of state funds.

"Instead of relying on Wall Street banks for credit – or allowing a Wall Street bank to enjoy the benefits of lending its capital – California may decide to create its own, publicly-owned bank."

WHAT A PUBLIC BANK COULD MEAN FOR CALIFORNIA « WEB OF DEBT BLOG

Sounds like a good idea to me once explained, but what do I know....Good luck in any cutting ties with the ones who weren't working in the best interest of Californians and their well being.

It's been working pretty well in North Dakota since 1919:

"A number of other mineral-rich states were initially not affected by the economic downturn, but they lost revenues with the later decline in oil prices. North Dakota is the only state to be in continuous budget surplus since the banking crisis of 2008.

"Its balance sheet is so strong that it recently reduced individual income taxes and property taxes by a combined $400 million, and is debating further cuts.

"It also has the lowest foreclosure rate and lowest credit card default rate in the country, and it has had NO bank failures in at least the last decade.

"If its secret isn’t oil, what is so unique about the state? North Dakota has one thing that no other state has: its own state-owned bank.

"Access to credit is the enabling factor that has fostered both a boom in oil and record profits from agriculture in North Dakota. The Bank of North Dakota (BND) does not compete with local banks but partners with them, helping with capital and liquidity requirements..."

NORTH DAKOTA

 

[HatInRing]

The majority of "illegals" in California are Americans.

Huh ? How does illegal and American end up being one in the same ??

An illegal alien, liberal hippy or a democrat that needs easy to get rid of cheap labor put the two in the same sentence thinking he/she is smarter than you and you will beleive it.

I used the term "Cheap labor" in reference to illegal aliens. Illegal aliens are not cheap anymore. They are just easy to fire now since employers don't have to comply with government employment laws with illegals. They can be fired on the spot and they are controlled like slaves under the threat of getting deported.

 

[daveman]

Have you finished that #/=*!! car yet, D'Man?
Surely, (No, I didn't just call you...) you have found a garage?

No garage, so no car.

The LA buses are circling that damn bowl a little faster than anything else around here.

Fortunately Ellen Brown has found the solution.
Unfortunately elected Republicans AND Democrats in California will send their own children to occupy Pakistan (or Mexico) before they'll listen to Ellen:

"California’s bill to study the feasibility of establishing a state-owned bank that would receive deposits of state funds, has passed both houses of the legislature and is now on the desk of Governor Jerry Brown awaiting his signature.

"It could be the governor’s chance to restore the state to its former glory. As noted in Time Magazine:

"n the 1950s and ‘60s, California was a liberal showcase. Governors Earl Warren and Pat Brown responded to the population growth of the postwar boom with a massive program of public infrastructure—the nation’s finest public college system, the freeway system and the state aqueduct that carries water from the well-watered north to the parched south.

"But that was before Proposition 13..."

CALIFORNIA LEGISLATURE PASSES BILL TO STUDY STATE-OWNED BANK « WEB OF DEBT BLOG

So, she wants CA to own a bank so they can store the money they don't have.

Are you saying I'm stuck with buses and subways for the duration?
OK...fine.

I don't recall agreeing to build a car for you.

As to Ellen's prescription for California's financial woes, i think the plan is to keep billion$ in state revenues within California instead of shipping them off to Wall Street where they're often used to speculate against the best interests of Californians.

2% mortgages?
Credit cards capped at 6%?

"California is the eighth largest economy in the world, and it has a debt burden to match.

"It has outstanding general obligation bonds and revenue bonds of $158 billion, largely incurred for infrastructure. Of this tab, $70 billion is just for interest. Over $7 billion of California’s annual budget goes to pay interest on the state’s debt.

"As large as California’s liabilities are, they are exceeded by its assets, which are sufficient to capitalize a bank rivaling any in the world. That’s the idea behind Assembly Bill 750, introduced by Assemblyman Ben Hueso of San Diego, which would establish a blue ribbon task force to consider the viability of creating the California Investment Trust, a state bank receiving deposits of state funds.

"Instead of relying on Wall Street banks for credit – or allowing a Wall Street bank to enjoy the benefits of lending its capital – California may decide to create its own, publicly-owned bank."

WHAT A PUBLIC BANK COULD MEAN FOR CALIFORNIA « WEB OF DEBT BLOG

How does she plan to end the flow of people's 401(k) money to Wall Street for investment? Is she going to confiscate it?

To the OWS crowd, if you've got a retirement account, guess what? You're invested in the eeeevil KKKorporations through Wall Street! You greedy bastards!

 

[georgephillip]

The majority of "illegals" in California are Americans.

Huh ? How does illegal and American end up being one in the same ??

An illegal alien, liberal hippy or a democrat that needs easy to get rid of cheap labor put the two in the same sentence thinking he/she is smarter than you and you will beleive it.

I used the term "Cheap labor" in reference to illegal aliens. Illegal aliens are not cheap anymore. They are just easy to fire now since employers don't have to comply with government employment laws with illegals. They can be fired on the spot and they are controlled like slaves under the threat of getting deported.

"The exchange of money and debt for prolonged and unfulfilling work choices traces back to the disintegration of hunter-gatherer gift economies and the origin of prostitution as a 'fundamental feature of human civilization'.[12]

"Similarities between wage labor and slavery were noted in ancient Rome by Cicero,[13] while the pervasive practice of voluntary slavery in medieval Russia indicates the previous historical coexistence of slavery and voluntary choice.[14]

"Before the American Civil War, Southern defenders of African American slavery invoked the concept of wage slavery to favorably compare the condition of their slaves to workers in the North.[15][16]

"With the advent of the industrial revolution, thinkers such as Proudhon and Marx elaborated the comparison between wage labor and slavery in the context of a critique of societal property not intended for active personal use..."

Wage slavery - Wikipedia, the free encyclopedia

One of the Industrial Revolutions first talking points was how, eventually, the machine would free humanity from the need to toil for its daily bread. Maybe those who own the means of production forgot to tell the rest of us?

 

[georgephillip]

No garage, so no car.

So, she wants CA to own a bank so they can store the money they don't have.

Are you saying I'm stuck with buses and subways for the duration?
OK...fine.

I don't recall agreeing to build a car for you.

As to Ellen's prescription for California's financial woes, i think the plan is to keep billion$ in state revenues within California instead of shipping them off to Wall Street where they're often used to speculate against the best interests of Californians.

2% mortgages?
Credit cards capped at 6%?

"California is the eighth largest economy in the world, and it has a debt burden to match.

"It has outstanding general obligation bonds and revenue bonds of $158 billion, largely incurred for infrastructure. Of this tab, $70 billion is just for interest. Over $7 billion of California’s annual budget goes to pay interest on the state’s debt.

"As large as California’s liabilities are, they are exceeded by its assets, which are sufficient to capitalize a bank rivaling any in the world. That’s the idea behind Assembly Bill 750, introduced by Assemblyman Ben Hueso of San Diego, which would establish a blue ribbon task force to consider the viability of creating the California Investment Trust, a state bank receiving deposits of state funds.

"Instead of relying on Wall Street banks for credit – or allowing a Wall Street bank to enjoy the benefits of lending its capital – California may decide to create its own, publicly-owned bank."

WHAT A PUBLIC BANK COULD MEAN FOR CALIFORNIA « WEB OF DEBT BLOG

How does she plan to end the flow of people's 401(k) money to Wall Street for investment? Is she going to confiscate it?

To the OWS crowd, if you've got a retirement account, guess what? You're invested in the eeeevil KKKorporations through Wall Street! You greedy bastards!

I'm glad to see you haven't mellowed any.
Keep up the good work.

As far as Ellen's concerned why would she need to confiscate people's 401ks?

"California has 37 million people.

"If the California Investment Trust (CIT) performed like the BND (Bank of North Dakota), it might amass $148 billion in deposits. With $12 billion in capital, this $148 billion could generate $133 billion in credit for the state (subtracting 10%, or 14.8 billion, to satisfy reserve requirements).

"There are various ways the state could come up with the capital, but one possibility that would not require new taxes or debt would be to simply draw on the treasurer’s existing pooled money investment account, which currently contains $65 billion in accumulated revenues dispersed to a variety of funds.

"This money is already invested; a portion could just be shifted to the CIT.

"Since it would be an investment in equity rather than an expenditure, it would not cost the state money.

"Rather, it would make money for the state.

"In recent years, the Bank of North Dakota has had a return on equity of 25-26%. Compare the 25-30% lost in the two years following the 2008 banking crisis by CalPERS, the California Public Employees’ Retirement System, which invested its money on Wall Street."

To the brain-dead conservative crowd... you really don't have to bend over every time Wall Street snaps its fingers.

http://webofdebt.wordpress.com/2011/05/17/what-a-public-bank-could-mean-for-california/

 

[daveman]

Are you saying I'm stuck with buses and subways for the duration?
OK...fine.

I don't recall agreeing to build a car for you.

As to Ellen's prescription for California's financial woes, i think the plan is to keep billion$ in state revenues within California instead of shipping them off to Wall Street where they're often used to speculate against the best interests of Californians.

2% mortgages?
Credit cards capped at 6%?

"California is the eighth largest economy in the world, and it has a debt burden to match.

"It has outstanding general obligation bonds and revenue bonds of $158 billion, largely incurred for infrastructure. Of this tab, $70 billion is just for interest. Over $7 billion of California’s annual budget goes to pay interest on the state’s debt.

"As large as California’s liabilities are, they are exceeded by its assets, which are sufficient to capitalize a bank rivaling any in the world. That’s the idea behind Assembly Bill 750, introduced by Assemblyman Ben Hueso of San Diego, which would establish a blue ribbon task force to consider the viability of creating the California Investment Trust, a state bank receiving deposits of state funds.

"Instead of relying on Wall Street banks for credit – or allowing a Wall Street bank to enjoy the benefits of lending its capital – California may decide to create its own, publicly-owned bank."

WHAT A PUBLIC BANK COULD MEAN FOR CALIFORNIA « WEB OF DEBT BLOG

How does she plan to end the flow of people's 401(k) money to Wall Street for investment? Is she going to confiscate it?

To the OWS crowd, if you've got a retirement account, guess what? You're invested in the eeeevil KKKorporations through Wall Street! You greedy bastards!

I'm glad to see you haven't mellowed any.
Keep up the good work.

As far as Ellen's concerned why would she need to confiscate people's 401ks?

"California has 37 million people.

"If the California Investment Trust (CIT) performed like the BND (Bank of North Dakota), it might amass $148 billion in deposits. With $12 billion in capital, this $148 billion could generate $133 billion in credit for the state (subtracting 10%, or 14.8 billion, to satisfy reserve requirements).

"There are various ways the state could come up with the capital, but one possibility that would not require new taxes or debt would be to simply draw on the treasurer’s existing pooled money investment account, which currently contains $65 billion in accumulated revenues dispersed to a variety of funds.

"This money is already invested; a portion could just be shifted to the CIT.

"Since it would be an investment in equity rather than an expenditure, it would not cost the state money.

"Rather, it would make money for the state.

"In recent years, the Bank of North Dakota has had a return on equity of 25-26%. Compare the 25-30% lost in the two years following the 2008 banking crisis by CalPERS, the California Public Employees’ Retirement System, which invested its money on Wall Street."

To the brain-dead conservative crowd... you really don't have to bend over every time Wall Street snaps its fingers.

WHAT A PUBLIC BANK COULD MEAN FOR CALIFORNIA « WEB OF DEBT BLOG

Yeah, you didn't really answer my question.

How does she plan to end the flow of people's 401(k) money to Wall Street for investment? Is she going to confiscate it? Not all employees in CA are public employees. The state government has no control over private citizens' retirement accounts, no matter how much they'd like to.

 

[HatInRing]

And California's circling of the bowl accelerates.

Have you finished that #/=*!! car yet, D'Man?
Surely, (No, I didn't just call you...) you have found a garage?
The LA buses are circling that damn bowl a little faster than anything else around here.

Fortunately Ellen Brown has found the solution.
Unfortunately elected Republicans AND Democrats in California will send their own children to occupy Pakistan (or Mexico) before they'll listen to Ellen:

"California’s bill to study the feasibility of establishing a state-owned bank that would receive deposits of state funds, has passed both houses of the legislature and is now on the desk of Governor Jerry Brown awaiting his signature.

I can't wait to see if the old Brown man will sign California into double dip bankruptcy. The federal government isn't allowed to make a profit (even though they do sometimes) they are only allowed to tax which means they put their hand out and you empty your pockets. California opening it's own bank means the bank funds will be invested and California will earn huge profits. Eventually if they don't start right away they will start accepting private funds and we will be on our way to communism. This is exactly what Obama and his liberal pirates want to do. Toss the constitution and install communism.

 

[georgephillip]

I don't recall agreeing to build a car for you.

How does she plan to end the flow of people's 401(k) money to Wall Street for investment? Is she going to confiscate it?

To the OWS crowd, if you've got a retirement account, guess what? You're invested in the eeeevil KKKorporations through Wall Street! You greedy bastards!

I'm glad to see you haven't mellowed any.
Keep up the good work.

As far as Ellen's concerned why would she need to confiscate people's 401ks?

"California has 37 million people.

"If the California Investment Trust (CIT) performed like the BND (Bank of North Dakota), it might amass $148 billion in deposits. With $12 billion in capital, this $148 billion could generate $133 billion in credit for the state (subtracting 10%, or 14.8 billion, to satisfy reserve requirements).

"There are various ways the state could come up with the capital, but one possibility that would not require new taxes or debt would be to simply draw on the treasurer’s existing pooled money investment account, which currently contains $65 billion in accumulated revenues dispersed to a variety of funds.

"This money is already invested; a portion could just be shifted to the CIT.

"Since it would be an investment in equity rather than an expenditure, it would not cost the state money.

"Rather, it would make money for the state.

"In recent years, the Bank of North Dakota has had a return on equity of 25-26%. Compare the 25-30% lost in the two years following the 2008 banking crisis by CalPERS, the California Public Employees’ Retirement System, which invested its money on Wall Street."

To the brain-dead conservative crowd... you really don't have to bend over every time Wall Street snaps its fingers.

WHAT A PUBLIC BANK COULD MEAN FOR CALIFORNIA « WEB OF DEBT BLOG

Yeah, you didn't really answer my question.

How does she plan to end the flow of people's 401(k) money to Wall Street for investment? Is she going to confiscate it? Not all employees in CA are public employees. The state government has no control over private citizens' retirement accounts, no matter how much they'd like to.

Private citizens who choose to continue investing with Wall Street will still have that option. Taxes and fees collected by the State of California won't. Hopefully, millions of Californians will take advantage of real competition and choose state banking services and products like 2% mortgages and credit cards capped at 6%.

 

[georgephillip]

And California's circling of the bowl accelerates.

Have you finished that #/=*!! car yet, D'Man?
Surely, (No, I didn't just call you...) you have found a garage?
The LA buses are circling that damn bowl a little faster than anything else around here.

Fortunately Ellen Brown has found the solution.
Unfortunately elected Republicans AND Democrats in California will send their own children to occupy Pakistan (or Mexico) before they'll listen to Ellen:

"California’s bill to study the feasibility of establishing a state-owned bank that would receive deposits of state funds, has passed both houses of the legislature and is now on the desk of Governor Jerry Brown awaiting his signature.

I can't wait to see if the old Brown man will sign California into double dip bankruptcy. The federal government isn't allowed to make a profit (even though they do sometimes) they are only allowed to tax which means they put their hand out and you empty your pockets. California opening it's own bank means the bank funds will be invested and California will earn huge profits. Eventually if they don't start right away they will start accepting private funds and we will be on our way to communism. This is exactly what Obama and his liberal pirates want to do. Toss the constitution and install communism.

Eventually you will have to learn the difference between communism and competition.

North Dakota learned that distinction almost a hundred years ago.
How does their economy today compare with California's?
Let's ask a professor at one of the most conservative university law schools in the state...

"Timothy Canova is Professor of International Economic Law at Chapman University School of Law in Orange, California. In a June 2011 paper called 'The Public Option: The Case for Parallel Public Banking Institutions,' he compares North Dakota’s financial situation to California’s. He writes of North Dakota and its state-owned bank:

"'The state deposits its tax revenues in the Bank, which in turn ensures that a high portion of state funds are invested in the state economy. In addition, the Bank is able to remit a portion of its earnings back to the state treasury . . . . Thanks in part to these institutional arrangements, North Dakota is the only state that has been in continuous budget surplus since before the financial crisis and it has the lowest unemployment rate in the country.

"He then compares the dire situation in California:

"In contrast, California is the largest state economy in the nation, yet without a state-owned bank, is unable to steer hundreds of billions of dollars in state revenues into productive investment within the state.

"Instead, California deposits its many billions in tax revenues in large private banks which often lend the funds out-of-state, invest them in speculative trading strategies (including derivative bets against the state’s own bonds), and do not remit any of their earnings back to the state treasury.

"Meanwhile, California suffers from constrained private credit conditions, high unemployment levels well above the national average, and the stagnation of state and local tax receipts.

"The state’s only response has been to stumble from one budget crisis to another for the past three years, with each round of spending cuts further weakening its economy, tax base, and credit rating."

NORTH DAKOTA

Surely you've noticed how private bankers constantly require bail-outs by the taxpayers?
Why not jail the banksters and own the banks?
Only devout slaves would allow private control of their money supply, right?

 

[daveman]

I'm glad to see you haven't mellowed any.
Keep up the good work.

As far as Ellen's concerned why would she need to confiscate people's 401ks?

"California has 37 million people.

"If the California Investment Trust (CIT) performed like the BND (Bank of North Dakota), it might amass $148 billion in deposits. With $12 billion in capital, this $148 billion could generate $133 billion in credit for the state (subtracting 10%, or 14.8 billion, to satisfy reserve requirements).

"There are various ways the state could come up with the capital, but one possibility that would not require new taxes or debt would be to simply draw on the treasurer’s existing pooled money investment account, which currently contains $65 billion in accumulated revenues dispersed to a variety of funds.

"This money is already invested; a portion could just be shifted to the CIT.

"Since it would be an investment in equity rather than an expenditure, it would not cost the state money.

"Rather, it would make money for the state.

"In recent years, the Bank of North Dakota has had a return on equity of 25-26%. Compare the 25-30% lost in the two years following the 2008 banking crisis by CalPERS, the California Public Employees’ Retirement System, which invested its money on Wall Street."

To the brain-dead conservative crowd... you really don't have to bend over every time Wall Street snaps its fingers.

WHAT A PUBLIC BANK COULD MEAN FOR CALIFORNIA « WEB OF DEBT BLOG

Yeah, you didn't really answer my question.

How does she plan to end the flow of people's 401(k) money to Wall Street for investment? Is she going to confiscate it? Not all employees in CA are public employees. The state government has no control over private citizens' retirement accounts, no matter how much they'd like to.

Private citizens who choose to continue investing with Wall Street will still have that option. Taxes and fees collected by the State of California won't. Hopefully, millions of Californians will take advantage of real competition and choose state banking services and products like 2% mortgages and credit cards capped at 6%.

You know there's no way in hell it's going to work, right?

 

[Katzndogz]

California started out with a basic premise. Illegals contribute more and are worth more than Americans, so the state would be vastly improved if there were more illegals and fewer Americans. In the 70s Then Governor Brown said the main problem with the state was that too many people were working. More people needed to be shifted into welfare to improve the economy. He hasn't changed a bit.

The majority of "illegals" in California are Americans.
As I recall, "Moonbeam" made some fairly outrageous claims in the '70s, but I don't remember the one about too many Californians having jobs.
Link?

Who do you blame for the current state of California's economy, illegal immigrants or Wall Street?

Here you go.

Jerry Brown Flashback: 'We Need More Welfare and Fewer Jobs' - Archive - Fox Nation

The solution to California's prosperity is more welfare and fewer jobs.

I have lived in California since 1959, yes I absolutely blame the illegals for California's economy. Not only the illegals but democrats who have done everything they could to destroy the state. For instance, I have seen how illegals can destroy a city, first hand, in several cities. They are not reponsible for the destruction of agriculture in the Central Valley, that was democrat environmentalism. The illegals aren't responsible for the mangled regulation system that has been driving business out of the state, that's democrats.

 

[georgephillip]

California started out with a basic premise. Illegals contribute more and are worth more than Americans, so the state would be vastly improved if there were more illegals and fewer Americans. In the 70s Then Governor Brown said the main problem with the state was that too many people were working. More people needed to be shifted into welfare to improve the economy. He hasn't changed a bit.

The majority of "illegals" in California are Americans.
As I recall, "Moonbeam" made some fairly outrageous claims in the '70s, but I don't remember the one about too many Californians having jobs.
Link?

Who do you blame for the current state of California's economy, illegal immigrants or Wall Street?

Here you go.

Jerry Brown Flashback: 'We Need More Welfare and Fewer Jobs' - Archive - Fox Nation

The solution to California's prosperity is more welfare and fewer jobs.

I have lived in California since 1959, yes I absolutely blame the illegals for California's economy. Not only the illegals but democrats who have done everything they could to destroy the state. For instance, I have seen how illegals can destroy a city, first hand, in several cities. They are not reponsible for the destruction of agriculture in the Central Valley, that was democrat environmentalism. The illegals aren't responsible for the mangled regulation system that has been driving business out of the state, that's democrats.

From your link:

"Jobs for every American is doomed to failure because of modern automation and production.

"We ought to recognize it and create an income-maintenance system so every single American has the dignity and the wherewithal for shelter, basic food, and medical care. I’m talking about welfare for all. Without it, you’re going to have warfare for all.

"Without a universal health care like every other civilized country, without a minimum level of income, this country will explode. You can’t blame the guy at the bottom forever. At some point there’s a reaction and we’ll see that the real criminals are those calling the tune, making the rules, and walking to the bank

Jerry Brown Flashback: 'We Need More Welfare and Fewer Jobs' - Archive - Fox Nation

What's your choice welfare or warfare?

Who gave us the greatest economic collapse since the Great Depression?
It wasn't the immigrants.
It was rich parasites on Wall Street who continue their pillage to this minute.

It sounds like you're uncomfortable living among non-white people.
Maybe you should move?

 

[georgephillip]

Yeah, you didn't really answer my question.

How does she plan to end the flow of people's 401(k) money to Wall Street for investment? Is she going to confiscate it? Not all employees in CA are public employees. The state government has no control over private citizens' retirement accounts, no matter how much they'd like to.

Private citizens who choose to continue investing with Wall Street will still have that option. Taxes and fees collected by the State of California won't. Hopefully, millions of Californians will take advantage of real competition and choose state banking services and products like 2% mortgages and credit cards capped at 6%.

You know there's no way in hell it's going to work, right?

You know it's been working in North Dakota for nearly a century, right?

"According to new data released by the Bureau of Labor Statistics today, North Dakota had an unemployment rate of just 3.3 percent in July(2011)—that’s just over a third of the national rate (9.1 percent), and about a quarter of the rate of the state with the highest joblessness (Nevada, at 12.9 percent).

"North Dakota has had the lowest unemployment in the country (or was tied for the lowest unemployment rate in the country) every single month since July 2008.

"Its healthy job market is also reflected in its payroll growth numbers. . . . [Y]ear over year, its payrolls grew by 5.2 percent. Texas came in second, with an increase of 2.6 percent."

NORTH DAKOTA

 

[Katzndogz]

North Dakota is having an oil boom because of the drilling going on in private property.

You are talking to the wrong person, George. I believe that those who choose not to take care of themselves should die in the streets and people who do work gather up the bodies for a landfill.

 

[georgephillip]

North Dakota is having an oil boom because of the drilling going on in private property.

You are talking to the wrong person, George. I believe that those who choose not to take care of themselves should die in the streets and people who do work gather up the bodies for a landfill.

"Oil is certainly a factor, but it is not what has put North Dakota over the top.

"Alaska has roughly the same population as North Dakota and produces nearly twice as much oil, yet unemployment in Alaska is running at 7.7 percent.

"Montana, South Dakota, and Wyoming have all benefited from a boom in energy prices, with Montana and Wyoming extracting much more gas than North Dakota has.

"The Bakken oil field stretches across Montana as well as North Dakota, with the greatest Bakken oil production coming from Elm Coulee Oil Field in Montana. Yet Montana’s unemployment rate, like Alaska’s, is 7.7% percent."

NORTH DAKOTA

What do you propose for the rich parasites who crashed the global economy in 2008?
Sainthood?

 

[Katzndogz]

North Dakota is having an oil boom because of the drilling going on in private property.

You are talking to the wrong person, George. I believe that those who choose not to take care of themselves should die in the streets and people who do work gather up the bodies for a landfill.

"Oil is certainly a factor, but it is not what has put North Dakota over the top.

"Alaska has roughly the same population as North Dakota and produces nearly twice as much oil, yet unemployment in Alaska is running at 7.7 percent.

"Montana, South Dakota, and Wyoming have all benefited from a boom in energy prices, with Montana and Wyoming extracting much more gas than North Dakota has.

"The Bakken oil field stretches across Montana as well as North Dakota, with the greatest Bakken oil production coming from Elm Coulee Oil Field in Montana. Yet Montana’s unemployment rate, like Alaska’s, is 7.7% percent."

NORTH DAKOTA

What do you propose for the rich parasites who crashed the global economy in 2008?
Sainthood?

The Community Reinvestment Act crashed the economy and every person who voted to force lenders lend money to those known not to pay their bills should be strung up in the public square.

 

[Unkotare]

I believe that those who choose not to take care of themselves should die in the streets and people who do work gather up the bodies for a landfill.

That's just fucking stupid. You don't believe that, you are just overly excited and lack self control. Go do some finger painting or something and calm down.

 

[georgephillip]

North Dakota is having an oil boom because of the drilling going on in private property.

You are talking to the wrong person, George. I believe that those who choose not to take care of themselves should die in the streets and people who do work gather up the bodies for a landfill.

"Oil is certainly a factor, but it is not what has put North Dakota over the top.

"Alaska has roughly the same population as North Dakota and produces nearly twice as much oil, yet unemployment in Alaska is running at 7.7 percent.

"Montana, South Dakota, and Wyoming have all benefited from a boom in energy prices, with Montana and Wyoming extracting much more gas than North Dakota has.

"The Bakken oil field stretches across Montana as well as North Dakota, with the greatest Bakken oil production coming from Elm Coulee Oil Field in Montana. Yet Montana’s unemployment rate, like Alaska’s, is 7.7% percent."

NORTH DAKOTA

What do you propose for the rich parasites who crashed the global economy in 2008?
Sainthood?

The Community Reinvestment Act crashed the economy and every person who voted to force lenders lend money to those known not to pay their bills should be strung up in the public square.

So legislation passed in the 1970s and updated in 1995 crashed the economy in 2008?
How do you explain the fact that most lenders of failed mortgages were not subject to the CRA?

"Yet no bank has ever been 'forced to comply with government mandates about mortgage lending.'

"There are no 'government mandates,' and there never were.

"In order to qualify for government-backed deposit insurance—a benefit that banks aren’t forced to accept but enjoy having—the Community Reinvestment Act and similar measures designed to prevent discrimination in lending (to qualified individuals) only encourage banks to lend in all of the areas where they do business.

"And Section 802 (b) of the Act stresses that all loans must be 'consistent with safe and sound operations'—it’s the opposite of requiring that lenders write risky mortgages."

Conservatives Push Absurd Lie that Wall Street Hustlers Were Innocent Victims ... of Poor People | | AlterNet

 

[HatInRing]

"Oil is certainly a factor, but it is not what has put North Dakota over the top.

"Alaska has roughly the same population as North Dakota and produces nearly twice as much oil, yet unemployment in Alaska is running at 7.7 percent.

"Montana, South Dakota, and Wyoming have all benefited from a boom in energy prices, with Montana and Wyoming extracting much more gas than North Dakota has.

"The Bakken oil field stretches across Montana as well as North Dakota, with the greatest Bakken oil production coming from Elm Coulee Oil Field in Montana. Yet Montana’s unemployment rate, like Alaska’s, is 7.7% percent."

NORTH DAKOTA

What do you propose for the rich parasites who crashed the global economy in 2008?
Sainthood?

The Community Reinvestment Act crashed the economy and every person who voted to force lenders lend money to those known not to pay their bills should be strung up in the public square.

So legislation passed in the 1970s and updated in 1995 crashed the economy in 2008?
How do you explain the fact that most lenders of failed mortgages were not subject to the CRA?

"Yet no bank has ever been 'forced to comply with government mandates about mortgage lending.'

"There are no 'government mandates,' and there never were.

"In order to qualify for government-backed deposit insurance—a benefit that banks aren’t forced to accept but enjoy having—the Community Reinvestment Act and similar measures designed to prevent discrimination in lending (to qualified individuals) only encourage banks to lend in all of the areas where they do business.

"And Section 802 (b) of the Act stresses that all loans must be 'consistent with safe and sound operations'—it’s the opposite of requiring that lenders write risky mortgages."

Conservatives Push Absurd Lie that Wall Street Hustlers Were Innocent Victims ... of Poor People | | AlterNet

The 2008 crash was caused by banks giving home loans to illegal aliens. Yes the illegals were given the home loans after Bill Clinton and Barney Frank lowered the requirements for U.S. citizens to get home loans. The President Bush work place raids from 2006 to 2009 kicked off the economic collaspe by deporting thousands of illegals with great paying jobs that had "Home Loans".

 

[daveman]

Private citizens who choose to continue investing with Wall Street will still have that option. Taxes and fees collected by the State of California won't. Hopefully, millions of Californians will take advantage of real competition and choose state banking services and products like 2% mortgages and credit cards capped at 6%.

You know there's no way in hell it's going to work, right?

You know it's been working in North Dakota for nearly a century, right?

"According to new data released by the Bureau of Labor Statistics today, North Dakota had an unemployment rate of just 3.3 percent in July(2011)—that’s just over a third of the national rate (9.1 percent), and about a quarter of the rate of the state with the highest joblessness (Nevada, at 12.9 percent).

"North Dakota has had the lowest unemployment in the country (or was tied for the lowest unemployment rate in the country) every single month since July 2008.

"Its healthy job market is also reflected in its payroll growth numbers. . . . [Y]ear over year, its payrolls grew by 5.2 percent. Texas came in second, with an increase of 2.6 percent."

NORTH DAKOTA

Yeah. What's CA gonna do? Raise the interest rates, because they desperately need more money.