How Many Blue States Will go into Default/Bankruptcy This Fall?

[danielpalos]

• The average career pensioner will get back his or her employee contributions after just two years in retirement. In all, pensioners’ direct employee contributions will only equal 6 percent of what they will receive in benefits over the course of their retirements.
• What’s driving Illinois’ $111 billion pension crisis | Illinois Policy

They just need to legalize pot.

 

[william the wie]

While that might happen it is unlikely to work out as expected because CA is so far behind the curve on this move.

 

[sakinago]

Those states actually make the money the US lives off.

I've heard of Cali's demise for decades . Yet there it is ! With one of the worlds biggest economies.

Yea let's ignore numbers, I mean, they don't actually mean anything right?

 

[HereWeGoAgain]

California will most likely beat IL to the punch, not certain, but real likely.

Why should anyone take the right wing seriously about economics (or the law)?

California Makes America's Economy Great

California last year created the most jobs of any state, 483,000, more than the second- and third-most-populous states Florida and Texas combined (they added 257,900 and 175,700) and at a faster rate than any of the world's developed economies. The pace of employment growth was almost triple the rate of job creation for the 19 countries that make up the euro zone and more than 3.5 times that of Japan, according to data compiled by Bloomberg.

Look at the proposed budget and guarantees of local and municipal junk bonds. Traditionally CA has depended on a boom bust cycle of new industries. The film industry has pretty much moved out of the state and it has become increasingly expensive to do start ups in CA.

By the way the IOUs used by Grey and the Governator were cases of technical default that will probably trigger chapter three bankruptcy when Brown tries them.

We legalized pot, in the mean time. We expect around a billion in revenue.

Great!!! Lets encourage the populace to be a bunch of stoned morons.
That'll help the workforce for sure!

 

[william the wie]

Those states actually make the money the US lives off.

I've heard of Cali's demise for decades . Yet there it is ! With one of the worlds biggest economies.

Yea let's ignore numbers, I mean, they don't actually mean anything right?

The number the ratings agencies are most interested in are the number and frequencies of insolvencies, such as the issuance of IOUs by Grey and the Governator

The next big number of interest is ease of tax flight and proposed taxes.

Then total liabilities including contingent liabilities.

Those three numbers are extremely bad, even worse than IL in most analyses, and they are generally getting worse over time.

 

[danielpalos]

While that might happen it is unlikely to work out as expected because CA is so far behind the curve on this move.

We are expecting around a billion in revenue.

 

[danielpalos]

Those states actually make the money the US lives off.

I've heard of Cali's demise for decades . Yet there it is ! With one of the worlds biggest economies.

Yea let's ignore numbers, I mean, they don't actually mean anything right?

the glass, half full numbers or the glass, half empty numbers?

 

[danielpalos]

California will most likely beat IL to the punch, not certain, but real likely.

Why should anyone take the right wing seriously about economics (or the law)?

California Makes America's Economy Great

California last year created the most jobs of any state, 483,000, more than the second- and third-most-populous states Florida and Texas combined (they added 257,900 and 175,700) and at a faster rate than any of the world's developed economies. The pace of employment growth was almost triple the rate of job creation for the 19 countries that make up the euro zone and more than 3.5 times that of Japan, according to data compiled by Bloomberg.

Look at the proposed budget and guarantees of local and municipal junk bonds. Traditionally CA has depended on a boom bust cycle of new industries. The film industry has pretty much moved out of the state and it has become increasingly expensive to do start ups in CA.

By the way the IOUs used by Grey and the Governator were cases of technical default that will probably trigger chapter three bankruptcy when Brown tries them.

We legalized pot, in the mean time. We expect around a billion in revenue.

Great!!! Lets encourage the populace to be a bunch of stoned morons.
That'll help the workforce for sure!

Yup; drugs are no form of excuse. do drugs, and you may, have to stay, until you get it right.

 

[danielpalos]

Those states actually make the money the US lives off.

I've heard of Cali's demise for decades . Yet there it is ! With one of the worlds biggest economies.

Yea let's ignore numbers, I mean, they don't actually mean anything right?

The number the ratings agencies are most interested in are the number and frequencies of insolvencies, such as the issuance of IOUs by Grey and the Governator

The next big number of interest is ease of tax flight and proposed taxes.

Then total liabilities including contingent liabilities.

Those three numbers are extremely bad, even worse than IL in most analyses, and they are generally getting worse over time.

We legalized pot and are expecting around a billion in revenue.

 

[william the wie]

Those states actually make the money the US lives off.

I've heard of Cali's demise for decades . Yet there it is ! With one of the worlds biggest economies.

Yea let's ignore numbers, I mean, they don't actually mean anything right?

The number the ratings agencies are most interested in are the number and frequencies of insolvencies, such as the issuance of IOUs by Grey and the Governator

The next big number of interest is ease of tax flight and proposed taxes.

Then total liabilities including contingent liabilities.

Those three numbers are extremely bad, even worse than IL in most analyses, and they are generally getting worse over time.

We legalized pot and are expecting around a billion in revenue.

Expecting and getting are way different but at less than 1% and just more than 0.5% of total state revenue I can tell the future on this one. Reservations and neighboring states are going to eat your lunch

 

[sakinago]

Those states actually make the money the US lives off.

I've heard of Cali's demise for decades . Yet there it is ! With one of the worlds biggest economies.

Yea let's ignore numbers, I mean, they don't actually mean anything right?

the glass, half full numbers or the glass, half empty numbers?

The ones that deal with only a select few cal citizens are working in cals lucrative tech industry, the rest aren't doing so well with cost of living.

 

[g5000]

Those states actually make the money the US lives off.

I've heard of Cali's demise for decades . Yet there it is ! With one of the worlds biggest economies.

Yea let's ignore numbers, I mean, they don't actually mean anything right?

The numbers indicate California and New York are in much better shape than Alabama, Mississippi, Alaska, Louisiana, Kentucky, South Carolina, and a whole lot of other red states.

 

[william the wie]

Those states actually make the money the US lives off.

I've heard of Cali's demise for decades . Yet there it is ! With one of the worlds biggest economies.

Yea let's ignore numbers, I mean, they don't actually mean anything right?

the glass, half full numbers or the glass, half empty numbers?

The ones that deal with only a select few cal citizens are working in cals lucrative tech industry, the rest aren't doing so well with cost of living.

What surprised me when doing the preliminary marketing work on my game are the huge number of game tech and show business studio jobs that had moved here since the last time I checked. FL and GA are not what springs to mind for me and I live in Northeast FL a mile and a quarter from the ocean. I would prefer a far lower level of West Coast refugees to reduce price increases on almost everything.

 

[g5000]

I guess we'll all have a laugh this fall when this topic is bumped.

 

[jwoodie]

The Dems will try to turn this into a racial issue by cherry-picking cities with large minority populations as being the vistims of GOP bigotry.

 

[william the wie]

The Dems will try to turn this into a racial issue by cherry-picking cities with large minority populations as being the vistims of GOP bigotry.

That's a given but have you noticed as MLK sr. did that PC Democratic strongholds like Baltimore, Chicago, Los Angeles and NYC are far more racist than R strongholds like Jacksonville?

 

[danielpalos]

Those states actually make the money the US lives off.

I've heard of Cali's demise for decades . Yet there it is ! With one of the worlds biggest economies.

Yea let's ignore numbers, I mean, they don't actually mean anything right?

The number the ratings agencies are most interested in are the number and frequencies of insolvencies, such as the issuance of IOUs by Grey and the Governator

The next big number of interest is ease of tax flight and proposed taxes.

Then total liabilities including contingent liabilities.

Those three numbers are extremely bad, even worse than IL in most analyses, and they are generally getting worse over time.

We legalized pot and are expecting around a billion in revenue.

Expecting and getting are way different but at less than 1% and just more than 0.5% of total state revenue I can tell the future on this one. Reservations and neighboring states are going to eat your lunch

Why do you believe that?

Colorado Topped $1 Billion in Legal Marijuana Sales in 2016

One billion for California, may be conservative.

 

[william the wie]

Oh, my bad I thought you were talking about tax revenues. A tax revenue improvement of 0.002% is not a material revenue but don't worry be Happy. Please stay in California.

 

[imawhosure]

Just checked CA and IL munis. Still selling, still selling at a premium.

I wouldn't worry much.
.

That is because it is ILLEGAL for a state to file bankruptcy.

 

[danielpalos]

Oh, my bad I thought you were talking about tax revenues. A tax revenue improvement of 0.002% is not a material revenue but don't worry be Happy. Please stay in California.

Marijuana tax revenue hit $200 million in Colorado as sales pass $1 billion

One billion for California, may be conservative.