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Wednesday, August 22, 2012

Failed State on Fast Train for Bailout

It is not insanity. It is a sinister plan to force a Federal bailout.

Such a plan, of course, relies heavily on Obama's reelection.

Big Sur, California
Big Sur, California (Photo credit: the_tahoe_guy)
Related source » Is California the New Detroit?: 'via Blog this'   h/t Newmark's Door
[This related source is recommended in its entirety.]

“Most Californians live within miles of its majestic coastline – for good reason. The California coastline is blessed with arguably the most desirable climate on Earth, magnificent beaches, a backdrop of snow-capped mountains, and natural harbors in San Diego and San Francisco. The Golden State was aptly named. Its Gold Rush of 1849 was followed a century later by massive post-war growth. […] This success has created a problem: Californians, due to their golden history, live unreflective lives. The Tea Party movement generated a political tsunami that swept more than 60 incumbents from political office in 2010, but the wave petered out at California’s state line as Democrats take every elected office in the state. The state budget, mandated to balance by law, has been billions in the red for ten straight years. Yet Californians re-elect the same politicians, year after year, who produce budgets with multi-billion dollar deficits. California voters rejected Meg Whitman, the billionaire founder of Ebay, in favor of Jerry Brown. California now has a $16 billion deficit which “assumes” that California voters will pass massive tax increases on themselves. If they do not, the 2013 deficit becomes a mind numbing $20 billion. Yet despite the red ink, Governor Brown signed into law a “high speed rail” bill that will spend $6 billion on a train between Fresno and Bakersfield – not LA and San Francisco as promised. Polls turned against the choo-choo, but there remain no outcry from California voters.”
— by Robert J. Cristiano, 08/17/2012 (

Fer shur, you thought those Californians were batshit crazy, just like their foremost political icon, Nancy "Sleeps Upside-down" Pelosi. I did too, until I realized that was the misdirection-part of their ultimate goal. Of course, the insanity and dope-induced crazy is ubiquitous, too. Nevertheless, the power brokers have integrated method with their madness. What's the sinister angle? A Federal bailout, courtesy of Barack "Fleece the Suckers" Obama.

It's the only explanation short of outright mass-hysterical insanity. How the f*ck else can one envision the rational for tacking-on a $6-billion dollar train-to-nowhereville to an already preposterous (and, strictly speaking, illegal) $20-billion debt?

So maybe you don't think such a scheme is very sinister. Think again. Enter the Economics-101 concept of "moral hazard". Once California is bailed out from the Federal Treasury, every one of the other 49 (56 by Obama's reckoning) states will be forced to follow suit. They have no choice. Otherwise, they will end up paying for California's intentional self-destruction without getting anything in return.

If you are thinking this upcoming election is not the most critical since the Elections of 1860 and 1864, then you might as well just cash-in whatever chips you may have lying around, and stock up on your favorite mind-altering chemicals. Then, after the dust and smoke settles, kiss your ass goodbye.

You're welcome.

Image via Theo

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