during the enron scandal when cal had no power,CNBC said the Cal economy was equivalent to the 5th largest nation,i wish i could short the state,when its all under water from global warning my grandkids would clean up
Yeah . . . people live in CALIFORNIA because it's ALL about Sunshine! Are you that much of a Fool? You are too funny!
Again and again and again with same refrain over and over again. Same effing song and dance about Cali going into the ocean literally and figuratively for the last 55 years again and again and again. YAWN already. If I knew nothing upon nothing about Cali except what I read here ...I would be a monster buyer of everything Cali. Which BTW...I am. Not Monster buyer just small a buyer. There's waaaaaaaaaaaay too much pessimism. Wanna talk Socialism in the US... Talk Hawaii. They are they very definition.
On the other hand, similar logic would have suggested buying Detroit real estate and GM stock for the last 25 years. Personally I think California real estate prices will continue falling in 2009, and that going long here is almost like buying the nasdaq in 2001 or US stocks in 1931.
My home appreciated over 10% between July 2006 and December 2008 when it was bank-appraised for refinance. Not all real-estate is crashing. Anyone on the coast or on a hilltop near town is making money. If you guys just want to hate on Cali on general principles that is fine. I think some of you have your facts a little twisted. The big glut of foreclosures in S.Cal are in the so-called "inland empire" which is a very miserable place to begin with. Terrible smog, terrible traffic, overbuilt tract housing. I'm not trying to paint an optimistic picture of California, clearly the new budget is way too large, taxes are going to increase, vehicle registration fees will double etc. But it isn't as grim as people are claiming here.
Honest engine? Where are your from? Because I've seen this Cali movie before. Weren't you you same guy who questioned me on $USD..and 18% later..
As someone that actually lives in California, I would tend to AGREE with you. And make no mistake, there will be a reduction in services, resources, and some pain to go through for years to come. But you also have to understand that there is a rather "Pro-Bush" conservative clan of Republican posters here on ET that can't accept the FACT that the Republican Party is in such shambles, has no real leader ( aside from Rush Limp-Boner ) and that Barack Obama is now President . . . and they are trying to highlight anything that is "negative" and can be attached to the Democratic Party. California being a BLUE state, is one of their targets. It's really as simple as that.
CALIFORNIA BRIEFING February 23, 2009 LOS ANGELES 1 dead, 6 wounded in 3 weekend drive-bys Three drive-by gang shootings over the weekend left one person dead and six wounded in less than five hours. The fatal shooting occurred about 2:10 a.m. Sunday in the 2600 block of Lacy Street just east of the Los Angeles River. Police said four men in a blue Chevy Tahoe fired at four men standing outside a party, drawing return fire. All four of the men outside were wounded, and one of them died later at Los Angeles County-USC Medical Center, said Los Angeles Police Department Officer Norma Eisenman. The other three were being treated. The first drive-by shooting occurred in Mid-City about 10:40 p.m. Saturday at Washington and West boulevards, police said. A man was stopped at the intersection in a car with a 15-year-old girl when another man "pulled up and shot several rounds into the victim's vehicle," Eisenman said. The young man and girl were both wounded but were expected to survive, Eisenman said. The final shooting happened about 3:30 a.m. in the 700 block of East 40th Place in South L.A. Police said riders in a red van fired at a house, striking a 23-year-old man. He was in stable condition.