insolvency

Discussion in 'Economy' started by Neotrotsky, Jan 23, 2010.

  1. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    Another failed Democrat-machine-run state government or Illinois on the brink of insolvency


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  2. Truthmatters
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    The fact that the entire world is in a deep recession has nothing to do with it huh?
     
  3. Neubarth
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    Neubarth At the Ballpark July 30th

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    Recession????

    Actually Depression is the operative word.
     
  4. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    The whole world? Like China?

    China's growth accelerates to 10.7 percent in 4Q
    :eusa_whistle:


    So these problems are facing every state in our Union?
     
    Last edited: Jan 23, 2010
  5. Neubarth
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    Neubarth At the Ballpark July 30th

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    China's growth is totally bogus, just like our GDP numbers. Yes, with their spending the Chinese have put people to work. They are working producing product that they can not sell. When they run out of storage capacity then what happens? Remember the biggest part of the Chinese economy is producing products for export. To see what is happening to International Shipping of product, all you have to do is look at the Baltic Dry Index, or look at DRYS. The reality will scare the shit out of you.
     
  6. Neotrotsky
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    Overstated- most likely but not all bogus

    The op question is of the state of Illinois. While the economic slowdown may have exacerbated their problems, it is not the main cause of their problems.
     
  7. ihopehefails
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    A little but most of it is that most blue states can't stop spending and I say let them die. Honestly it is survival of the fittest and if your genes don't mandate survival then do what God's natural selection process wanted to be done.
     
  8. The Rabbi
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    The Rabbi Diamond Member

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    Zackly. So Carolina and Texas seem to be doing just fine. States that have prudent budgets are having tough going but making it. States that over spent are going to be begging.
     
  9. RetiredGySgt
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    RetiredGySgt Platinum Member

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    I am not so sure North Carolina is doing so good.
     
  10. editec
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    editec Mr. Forgot-it-All

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    It takes a particualrly blinding case of political partisanship to try to cast this mess as something limited to mistake of the State goverments, regardless of what party you're seeking to denigrate by ignoring most of the facts.



    source
     
    Last edited: Jan 24, 2010

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