re: #210 SanFranciscoZionist

I think that many of the people on this forum from outside California seem much more concerned about our imminent horrific collapse than any of the posters living in California.

This might tell people something.

I’ve got family living in CA. Others who’ve lived there for a spell. And I read the papers. Vallejo did in fact declare bankruptcy. Is Vallejo unique? CA as a state did in fact resort to delaying tax refunds and paying people in scrip for a while. Your collapse isn’t imminent. CA has enormous strengths. But it also has enormous liabilities. Do you seriously think that all those promised pensions and benefits can actually be funded out of tax revenue, without a court stepping in to modify them downward? The baby boomer retirement wave hasn’t hit its stride, after all. Today is just a taste of the fiscal challenges to come.