Greece, or California, or a few other US states?

I think you guys are historical idiots. Greece is no worse than Germany, Spain, Sweden or even the UK. Actually, Greece paid a share for the bailout of Germany after WWII even though the Germans have destroyed the country.

Why don't you learn soem history before taking things out of your as* in public?

http://en.wikipedia.org/wiki/Sovereign_default

Europe
Albania (1990)
Austria-Hungary (1796, 1802, 1805, 1811, 1816, 1868)
Austria (1938, 1940, 1945[16])
Bulgaria (1932[citation needed], 1990)
Croatia (1993–1996)[16]
Denmark (1813)[16] (see Danish state bankruptcy of 1813)
England (1340, 1472, 1596)
France (1558, 1624, 1648, 1661, 1701, 1715, 1770, 1788, 1812)

Germany (1932, 1939, 1948[16])
Hesse (1814)
Prussia (1683, 1807, 1813)
Schleswig-Holstein (1850)
Westphalia (1812)

Greece (1826, 1843, 1860, 1893, 1932, 2012 [18])
Hungary (1932, 1941)
The Netherlands (1814)
Poland (1936, 1940, 1981)
Portugal (1560, 1828, 1837, 1841, 1845, 1852, 1890)
Romania (1933)
Russia (1839, 1885, 1918, 1947,[16] 1957,[16] 1991, 1998)
Spain (1557, 1575, 1596, 1607, 1627, 1647, 1809, 1820, 1831, 1834, 1851, 1867, 1872, 1882, 1936-1939[16])
Sweden (1812)
Turkey (1876, 1915, 1931, 1940, 1978, 1982)
Ukraine (1998–2000)[16]
United Kingdom (1749, 1822, 1834, 1888–89, 1932)[16]
Yugoslavia (1983)

 

California's public sector has the unfunded liability thingy going bigtime. They probably don't have that on their books. They are like the Federal government without the money printing capability. They have to try to borrow their way out of debt I suppose. That never works but that won't deter them, they are Democrats, their passion will make up for the irrationality of their ideas.

I love the High Speed Rail project though. At least it's not pouring money into a welfare black hole. We will get something for it eventually.

 

take a good look at municipal inventories, ratings and notes on them. No one wants anything to do with lending a dime to california.... no one

its only a matter of time before the whole state declares bankruptcy and shit will hit the fan