California officially goes into default tommorrow. They are not calling it default though. They are just calling it "giving out IOU's until they can figure out how to save/make money." CA is the 10th largest economy in the world. This should be the worlds biggest news story, but its not. On yahoo, of the top 4 news stories right now, 2 of them are about wacko Jacko. In yahoo finance, no mention of it (unless you really search into the back logs but its not in the top 10 stories.) This is the same thing zimbabwe was doing. Nobody reporting what was going on in the country, or anything that was reported was really not significant. I mean come on people...the 10th largest economy in the world is in default! WAKE UP! We are 13% of the GDP...in my book that means 13% of the USA just defaulted. Only 87% to go, i guess. Tommorrow is the official beginning of the end. When people read the history books, they will mark July 1, 2009 as the offical day the USA started its collapse, in my opinion.