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| User Info | California: The Shape Of Things To Come in forum [Ticker] | |||
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Genesis Posts: 66463 Incept: 2007-06-26 
Royal Flush! 
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http://market-ticker.org/archives/1189-C....
---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2009-07-08 09:13:40
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Ldog Posts: 120 Incept: 2009-06-11
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KD: Things get curiouser and curiouser. How does this look when the Feds try the same trick? 2009-07-08 09:20:42
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2009-07-08 09:22:28
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Slyace Posts: 1001 Incept: 2007-10-02 
Dallas Online
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Does anybody have a screenshot of one of these things? It does make sense that something like this would be pretty easy to counterfeit. 2009-07-08 09:27:58
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Gamma Posts: 1702 Incept: 2008-01-20
Northern CA
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In light of your hamburger analogy, Gen, we're calling these WIMPY's out here in Kali: What I Might've Paid Yesterday.
---------- It's better to donate a Ford to the Kidney Foundation than a Kidney to the Ford Foundation. 2009-07-08 09:31:08
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Bozonian Posts: 13051 Incept: 2007-09-01
PFT - Pure F'n Tin
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Telebit made some popular modems in the 1980s. We used to use them in our dial in BBSes.
---------- If deficits don't matter, then the Federal Government can borrow the money it needs and stop taxing the citizens. Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice. 2009-07-08 09:33:37
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Aynrandfan Posts: 1196 Incept: 2007-09-02
Hannah, Montana
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California was in such a rush to get the IOU's going that security was an after-thought. They were down to something like 40 days before they were literally fundless. I supposes if you're issuing IOU's you're fundless by definition, though. Image:  ---------- A taxpayer-funded bailout of the FDIC is looming, and it is absolutely massive in size. Last modified:
2009-07-08 09:48:14 by aynrandfan
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Kwl88 Posts: 259 Incept: 2009-04-16 KC, MO
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So what's the news from the "Front Lines" out there in Kalifornia?! Are people just goin' on with their lives as usual OR is reality beginning to set-in? Are their riots yet or rumors of riots? Is Armed Robbery up yet? What about looting? Are Kalifornians still blaming Republicans including those in DC who have had nothing or practically nothing to do with the mess out there?! Has TSHTF finally arrived to our shores out there literally in KAlifornia? IS there still a budget impasse - OR are the Dems really going to sit down with Ahnold and actually CUT SPENDING SOMEWHERE in an American Government entity?! The Republicans are basically 2nd-Class citizens or a minor 3rd party out there so thus their influence on this problem has dwindled thoughout the last 2 decades...Hence, the DEMS will have to start, what's the word - GOVERNING...instead of raising Taxes on those so-called "evil rich people" etc..... 2009-07-08 09:41:47
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Curbyourrisk Posts: 1617 Incept: 2008-08-19 Long Island, New York
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OK...so yu're telling me...this bailout of California is truly being passed on to anyone who accepts these recource warrants?? If you accept them as payments..and eurn around and use them yourself....THEN CALI GOES **** UP......they come after you for passing them on???? WHAT A CROCK OF ****!!!!!!! ---------- Hopium: hope filled delirium preached by the White House and Swallowed whole by the American Sheeple. "We saved the world from disaster" - Ben Bernanke - Jackson Hole 08/21/2009  2009-07-08 09:42:54
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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Quote:OK...so yu're telling me...this bailout of California is truly being passed on to anyone who accepts these recource warrants?? If you accept them as payments..and eurn around and use them yourself....THEN CALI GOES **** UP......they come after you for passing them on???? Yep. All drafts you deposit into any bank anywhere at any time are received and credited subject to final collection. This is basic UCC stuff guys. If you deposit a "Registered Warrant" and it is subsequently NOT PAID, your ass is on the hook for the full amount of it. Even if that "not paid" happens three months later. WAKE THE **** UP! ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2009-07-08 09:46:46
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Chainlink Posts: 421 Incept: 2008-10-26
Florida and Michigan Online
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Yes - what's happening in CA is coming to lots of places. Drunk on the property tax revenues...thinking it would last forever. First time I've seen your 30% to 40% contraction, that scares the pis out of me, but agrees with my gut.
2009-07-08 09:48:08
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Kwl88 Posts: 259 Incept: 2009-04-16 KC, MO
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Isn't the formal definition of a depression the "...10% contraction of GDP..."?!?! AND didn't the Great Depression have a total contraction of about 20% - 30% ?!?!?!?! IF BOTH ANSWERS ARE YES - then Chainlink that certainly "...scares the pis out of me..." as well!!! 2009-07-08 09:52:29
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Glock36 Posts: 327 Incept: 2009-06-03 Banned
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Is there recourse for the initial recipient or does the issue of state sovereignty come into play? Commiefornia could go belly-up on lawsuits, alone. Also, since they are recourse warrants, it appears that one could actually lose more than just the value of the warrant. Most financial institutions have rather austere penalties in the form of numerous fees for instances like this. ---------- Black Helicopters Are Like ****roaches, You Never Find Just One Glock36's Law: Murphy Was An Optimist When You Find Yourself In A Hole, Don't Look Out Until You Identify The Type, As It Could Be A Foxhole The Greatest Enemy Of Knowledge Is Not Ignorance, But The Illusion Of Knowledge - Dr. Hawking 2009-07-08 09:56:13
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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Yes and yes. I've been predicting this now for over two years and keep seeing data now that is validating the thesis (e.g. contraction in sold volumes on autos, etc) ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2009-07-08 09:56:30
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Koaj Posts: 753 Incept: 2009-02-03
NJ
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Drunk on the property tax revenues ----------- same in NJ. TSHTF soon down here. i read somewhere that 1 out of every 4 NJ residents gets a government check of some sort housing has only slowly come in here. we have a while to go given half the better areas population works in NYC ---------- global warming hoax proved/HR 1207 passes committee in less than 24 hours time. there is hope TF'ers 2009-07-08 09:59:59
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Aynrandfan Posts: 1196 Incept: 2007-09-02
Hannah, Montana
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Looks like somebody could print these out on a home computer, if he wanted to. ---------- A taxpayer-funded bailout of the FDIC is looming, and it is absolutely massive in size. 2009-07-08 10:00:16
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Statusquojoe Posts: 2048 Incept: 2008-11-20 
Land of the fees Home of the slaves.
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OMG One would think this would be headline newz on the LA Times! I just checked and instead they have this: Michael Jackson A requiem for a king Hmmm, par for the course, lets see MJ was king of the zombies right? That about fits the situation 
---------- "The value of a man's opinion, is the price he has paid to have it." Author unknown. 2009-07-08 10:00:19
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Atomic Posts: 14 Incept: 2009-06-24 Toronto, Canada
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I left the corrupt Golden state a year ago in disgust after three years of temporary work permits and was shocked at what I routinely saw (and I'm not talking about silicone implants or freaks or anything like that :D) As Gen always hammers away, everything comes down to the rule of law. Left or right is meaningless if there is no respect for the law. Coming from Toronto, a city that absorbs far more (legal) immigrants per capita than LA or the bay area, and also vigorously deports visa overstayers, I was shocked to see the flagrancy of the behaviour there -- there is not even a sense of fear that being illegal may result in deportation, or that learning english is even necessary or desirable! And then there is the bipartisan canard of these people doing "jobs that Americans won't do". Well, yeah, Canadians don't want to pick apples either, and that's why we have a guest worker program, codified in law -- people come up from the Caribbean for the harvest, are paid the legal minimum wage and put up in lodging, and sent home when they're done. Simple. It is really a shame. I hope that Gen and like-minded people can bring the country back to its senses, because I otherwise loved the natural beauty of California. Someday maybe I'll apply to immigrate there, legally, if I have any chance to get in as an educated and law-abiding person. 2009-07-08 10:05:06
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Kwl88 Posts: 259 Incept: 2009-04-16 KC, MO
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Quote:Michael Jackson A requiem for a king Well, gee, where's Ola Ray?!?!?!?!  And Those Filipino Prisoners doing the Thriller Video dance?!?!?!  
2009-07-08 10:05:54
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Gamma Posts: 1702 Incept: 2008-01-20
Northern CA
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The "subject to collection" caveat (from the standpoint of the banks) is an interesting twist on things and may not be legal. The black letter of the law (I know, absurd concept) is that the banks become the "owners" of the checks 10 business days (might be calendar days) after accepting them and then cashing them. Meaning that they'd have to sue the St of CA to get their funds if the checks ultimately bounced. I could see this one landing in court. A vendor who accepted such a warrant for goods or services rendered to the St of CA, then deposited it into BAC, then paid his employees and suppliers would be an idiot to keep his account open. Wonder what the banks do when they start to see *that* happening? ---------- It's better to donate a Ford to the Kidney Foundation than a Kidney to the Ford Foundation. 2009-07-08 10:07:39
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Markytom Posts: 179 Incept: 2009-02-19
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Gen, do you think California is playing a game of chicken with the Federal government - "either you bail us out or we blow up the whole state and let blood run in the streets?" (If banks are too big to fail surely states are too.) The states already got bailed out via the stimulus package though - I know in New Mexico that a lot of the stimulus slush fund was used to shore up state social and education programs short-term - just kicking the can down the road some more. Is that why there is noise about another stimulus package - another bail-out for states in the guise of "stimulus"? 2009-07-08 10:10:58
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Peterm99 Posts: 162 Incept: 2009-03-21 SoCal
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Atomic: ". . . an educated and law-abiding person." Sorry to say, but if things continue in Calif as they have been going for the past few years, those are going to be counted as two strikes against you. 2009-07-08 10:11:19
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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Quote:The black letter of the law (I know, absurd concept) is that the banks become the "owners" of the checks 10 business days (might be calendar days) after accepting them and then cashing them. Meaning that they'd have to sue the St of CA to get their funds if the checks ultimately bounced. They're legally not checks Gamma. Sorry, this one's a loser. It will go to court if there is a default but this is one I'm quite confident the banks would win. Simply put if you're a vendor to California you're out of your ****ing mind to accept these things. You either tell California to go **** themselves until they pay you in cash or you deserve what you get. ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2009-07-08 10:11:31
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Keewaydin Posts: 1494 Incept: 2007-08-22
Just a fleshwound!
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Other states are sure to follow. Massachusetts revenues "end[ed] the financial year $180 million below even the dourest projections . . . forcing leaders to choose between draining the state’s reserve account and making further cuts in a budget approved just last week."Quote:State officials made several rounds of cuts to the fiscal 2009 state budget, but never caught up with falling revenues. Nearly every type of tax the state collects - including income, sales, and corporate - fell below expectations. http://www.boston.com/news/local/massach.... 2009-07-08 10:13:13
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Eli Posts: 3786 Incept: 2007-09-10
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OH wow! Jesus.(looking at the post from Aynrand fan.) You could just print these things off. This is a nuclear explosion. California has just blown up. 2009-07-08 10:17:05
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