pt 1/2 Donald J. Saltarelli discusses the looming bankruptcy that California is facing on KWN

[ivangrozny27]

This is terrifying for not only Americans but also the entire globe. 7th largest economy in the world isnt it?

[johnTconover]

California should have developed its off shore oil and wind resourses years ago, not that its an overall solution but its something. It takes real capitol investment, there's a limited supply of movie/rock stars to keep the cocaine and designer clothing economy alive. Maybe thats why there is so much new "talent" on the silver screens today, if schwarzenegger could only create enough new millionaires then maybe? But when the US printing presses get turned to 11, everyone will be rich right? ;-)

[Melville10]

How did CA get into this mess? Did they just spend money like fools?

Any good books or websites on this topic?

[shatteek]

Wow, income tax at 11%.

[harveybirdmannequin]

Remember when Arnold was campaigning for Governorship and said to Gray Davis "Don't be economic girly man".

HAHA! Good times.

California is bankrupt. It is the epitome and a microcosm for the USA. The economy based on debt, one of the largest subprime bubbles, foreigners having to be brought in to do jobs "beneath" Americans, etc. Even the people are fake literally (plastic surgery). Propaganda brainwashed by Hollywood. Lawlessness. Drug wars. Look to California for the future of the USA.

[Jakearoo14]

I pray you are wrong, but i fear you are right.