California’s coming crash


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Link here. Money quote:

Economist Herbert Stein once said: “If something can’t go on forever, it won’t.” California, on its current trajectory and with its new Socialist-inspired leadership, cannot go on forever. There simply isn’t enough money. The state will ultimately fail because the math says it has to.

Or as the article’s author also notes, “California’s aspiring new Socialists have already run out of other people’s money.” Worse, they don’t even know it, and plan to spend even more money they don’t have on more pie-in-the-sky communist fantasies.

California today reminds me of Venezuela ten years ago, when things started to go sour but no one there wanted to admit it. It also reminds me of the Soviet Union under Brezhnev in the 1970s. The collapse is coming, but the insane culture and leadership in California continues to do the same failed thing, over and over, expecting a different result. Instead, everything is going to crash. My big fear is that they will take everyone else down with them.

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4 comments

  • Rick

    The article doesn’t take in to account that that California has 49 other states money to blow also. The cry will be that California is too big to fail.
    It’s easy to spend other people’s money.

  • Chris

    We need a list of Californians so they can be given the bill – not us.

    But it will go the way it always does…. the rich socialists and government officials (and NGO folks) will propose more and more “funding of the poor, open borders and other uses for the taxpayer money -but NOT their money and NO STINKY people in their neighborhoods. The lazy will take all they can get and demand more while robbing and beating the truely needy.
    When it all comes down the rich socialists will have already moved to a sane place that they look to transform into Utopia (Greek Uo -“No”; Topos – “Land” in Thomas Moore’s novel of the same name, if you didn’t know. Thanks Word-a-Day from years ago).
    The lazy who were indiginous led by the socialists will help sow the violent crash. Some will leave with the lazy who migrated in and will migrate out looking for others who can “help” them – they will demand more when they get there.
    A few sane people will struggle to keep the ship righted. They will be scorned and some beaten on the streets. They and the remaining lazy will plead for our help. The socialists who really pushed the cart down the hill will scream the loudest for more funds from the taxpayer pointing to the children and the elderly. The lazy will skim or intercept any help they can.
    The debt will be settled and paid for mostly by all who did not cause the fall. The cause of the fall will mostly escape….Where is Madame Defarge?

  • Phill O

    California’s debt does not outpace Ontario’s. Ontario has the largest non-national debt in the world.

    And Ontario fell to a conservative government by an overwhelming margin.

    So, there is hope yet for California, slim but hope. If there is hope for California, then there is hope for Canada. But, by that time, Canada will be a hotbed of Islamic terrorists (IMHO).

  • Edward

    The author missed an opportunity to cite problems that are already occurring. Because the socialists refuse to build new dams and are removing existing ones, California is now under continuous drought conditions, even these days when we should have plenty of water. Farmers in the Central Valley are suffering from being cut off from water sources. For a couple of decades, as I drive along Interstate 5 (have I mentioned that I no longer enjoy flying?), there are several makeshift billboards, at a growing number of dead orchards and empty fields, complaining about the terrible water policies of the California government. There was a time when California was a major world food-source. No wonder the state economy has fallen from the 3rd largest economy in the world, once only surpassed by the US and the USSR.

    Cities have already filed for bankruptcy and others are close to doing so, and for the same reasons that the article’s author, Patrick Bobko, warned us about. The pension bomb is already exploding in some cities.

    (By the way, I have an aunt who not only is the reason I occasionally drive Interstate 5 but is part of the pension-bomb problem. When California made government pensions more lucrative, she went back to government work for a couple of years in order to boost her state pension — by a lot. It isn’t as though she needed the money, but it was available for surprisingly little effort.)

    Chris predicted: “But it will go the way it always does…. the rich socialists and government officials (and NGO folks) will propose more and more ‘funding of the poor, open borders and other uses for the taxpayer money -but NOT their money and NO STINKY people in their neighborhoods.’

    It is literally happening like that in San Francisco. Not only are the Kate Steinlies of the world not safe there, due to the open borders and sanctuary city policies, but the socialist residents are complaining about feces in the streets.
    http://www.wnd.com/2018/07/san-francisco-logs-over-16000-feces-complaints-in-1-week/
    Additionally, words and phrases synonymous with ‘feces’ are found in thousands more grievances.

    Here is one San Franciscan’s plight:
    https://www.sfchronicle.com/news/article/Neighbors-disgusted-over-despair-on-block-hit-13015964.php
    Those are the people who live on Isis Street, which should be everything that’s good about San Francisco. Funky flats. A group of progressive neighbors, many of whom are artists, writers and other creative types. A walkable neighborhood where you can get to Rainbow Grocery and a host of bars and restaurants in a flash. There are about 30 units of housing on the block, and six kids younger than 5 are growing up there. It should have been the best of San Francisco, but by April, it had become the worst.

    ‘There is a suitcase full of human s— on the corner of Isis and 13th,’ the email read. ‘Last night, I had to threaten violence to a man smoking crystal meth on my front porch. This morning, my 2-year-old son and I watched a rat rummage through the trash in our gutter.’

    This means that the flight problem that Robert noted earlier will only increase:
    http://behindtheblack.com/behind-the-black/points-of-information/san-francisco-area-1-in-nation-for-fleeing-residents/

    Of course, these fleeing progressives have no idea that it is their own progressivism that is turning California into the Venezuela/Soviet Union/North Korea that it is becoming, so expect them to try to turn your town and state into the same fecal condition that they have turned San Francisco and California into.

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