The Worlds 10th largest economy (California) goes into default tommorrow (7/1/09)

Discussion in 'Economics' started by peilthetraveler, Jul 1, 2009.

  1. Market loves it! Up up up!

    Where's stock_trad3r when you need him?
     
    #31     Jul 1, 2009
  2. Illegals are generally poor. Poor people dont pay tax. And the rich people from 3rd world countries have no touble coming here. Its only the poor workers that have trouble getting in.
     
    #32     Jul 1, 2009
  3. My 2001 honda cost 160$ in may to register
     
    #33     Jul 1, 2009
  4. Okey, $100 to $160; my point was that the tax/fee is not flat.... Similarly, if you have a big expensive "ride", the taxes can be much higher. Personally, I think if they are gonna impose a fee, it should be collected via the gas pump in the form of a "user tax"...
     
    #34     Jul 1, 2009
  5. I am wondering how long these non-payment of funds will take to trickle down into the economy. 1 month? 2 months? I mean CA stops paying...then the people that they were supposed to pay stop buying stuff or paying bills which means less revenue which means less taxes which means more death spiral.

    CA is collapsing and nobody notices yet.

    Oh and i was wrong about something...California (if it was a country) is not the worlds 10th largest economy. Its the 8th! (per CIA factbook) Right between Italy and Russia.

    Maybe one of the Mods can fix the title.
     
    #35     Jul 1, 2009
  6. They are I believe. Its supposed to be a 9.9% tax
     
    #36     Jul 1, 2009
  7. Must have found a BIG hole in the fence... for 20 Million of them to get through..
     
    #37     Jul 1, 2009
  8. I wonder if there will be any underlying opportunities here for California based companies? Relief efforts?
     
    #38     Jul 1, 2009
  9. AC3

    AC3

    .12/Gallon and its already been imposed, from what I understand.
     
    #39     Jul 1, 2009
  10. Well i know back in 2008 they were talking about building 700 miles of new fence...but that still left 630 miles(or 1000 kilometers) of unfenced border.

    So yeah...630 miles of unfenced border is a BIG hole that 20 million people would have no trouble getting through.
     
    #40     Jul 1, 2009