San Bernandino Files for Chapter 9 Bankruptcy

^^^^This^^^^^

It's coming for everyone, and Oakland will be a flashpoint for a lot of this with the recent tensions in the city over just about everything.

Our port won't insulate us from bankruptcy.

-Oakland

Have not read the whole thread but Stockton, CA already has as well...looks like the dominoes are beginning to fall.

i m looking forward to beverley hills & hollywood going bust

Minimum wage to all public employees in the late great bankrupt state of California.

Native Californian here...while it may be true that we've got our problems, (but honestly what state doesn't??) this state has much to offer in terms of it's diversity of climates and landscape. In this state, we have dessert, mountains, lakes, oceans, red wood forests anything you could possibly want in the way of recreation with nature. Were it not for some of our laws and our financial woes, I'd have no desire to leave.

That said...I worry about our future here.

Bankruptcy doesn't mean anything. They'll just ask for a bail out from the government and they'll print more money.

Me too, my dad and Grandfather were born in Los Angeles. My Grandparents lived through the worst depression with 7 kids to feed...it was tough... but they made it. And we will too. So now Gov.emps are living on min. wage. When families living at poverty level were screaming they couldn't survive on min. wage, Gov. told them...sure you can. Now that the shoe's on the other foot, maybe they'll get the message you can't live on min. wage as the cost of living keeps going up. Maybe now things will change.

San Berdo has been circling the drain for many years. Lots of low income and crime...businesses started moving out a long time ago. This is really no big surprise.

The sewers in NY never get cleaned up. They always have rats. D&R

Until that changes. Obama lies, trickle down does work.

Are your grandparents still alive? If so...at least they will be among the lucky few who will still know how to survive this. I hope your family pulls through this ok...it's about to get very ugly out there I fear.

Last Edited by Aware & Watching... on 07/11/2012 06:01 AM

Thats what you get when you hand out huge pensions to .city and county employees and then to top it off let thousands of uneducated low skilled foriegners set up and use the social services.

I saw an episode of COPS and they featured the San Bernardino County Sheriffs Dept. It seems as though the public sector employees are not going to be happy with this.

Really though, the whole state is in dire shape and yet they want to do high speed rail and spend billions they don't have. How do fix this kind of stupid?

The people running the show at every level are incompetent and that is why stuff like this happens.

Who will be the next city...? I wonder.

Just give it another month or two!

Most of America could care less about California.. Just sayin...

+1 It's all very well to hand out money to people who you think need it but the money has to come from somewhere and sooner or later it runs out.
The world is a big place and companies that actually make and sell a product will do it where the profits are higher. Tax lowers profit, lack of production in the US lowers jobs, less paychecks means less tax money for the gov't to hand out to the sick, lame, lazy or just plain unlucky.
Dems hate corporations but have no problem making them pay for all the do good ideas they have. Too bad the cash cows are making their goods and paying their taxes to other countries now. Many countries are in a similar boat now.

California going down!

Exactly how does free enterprise affect a local (municipal) governments negatively?

Are you saying the local small/medium/large companies all conspired against the City and refused to pay taxes or something? Because I'm just not seeing how any business forces any municipal government to spend, spend, spend (and budget poorly).

Enlighten me with how that works, so I'll know...

Yep, like it or not, Cali is the economic engine of the US--the seventh biggest economy in the world. Be careful what you wish for.

Yep.... We know how California is so important to the overall economy, yet we STILL say: Bye, Bye Cali! You get what you deserve!

You see what happens when you live above your means!!! They live like the money tree will never end! Bout time reality sets in for them! Why should people in other parts of the country bail out Cali??

don't confuse the deluded public with pertinent facts, it just makes them want to go into denial.

california has 600 billion in cafr assets

Thread: think California is broke? they have $8,600,000,000,000 in assets in various pension funds

as a city janitor, i earn $$$95,000$$$ a year salary

my friend the SHERIFF OF EL DORADO COUNTY CALIFORNIA

retired with $$$$483,900$$$ a year

but janitors dont get shot at

ergo, there is no point

its the internet, say whatever you jolly well want

no one listens to anyone but egotistical selves

from the above link

COMMUNICATIONS BETWEEN CARL HERMAN AND WALTER BURIEN - CAFR1

SUBJECT: Legality of California local governments not openly disclosing that they are sitting on over $600-billion of investment funds on the state level and about $8-trillion from the 14,000 or so local governments in California collectively held.

Carl Herman is a Harvard Graduate and taught economics in the LA County School district for many years. I briefed Carl a little over two years ago per collective totals from all local governments in CA combined with the selective presentation game of only the debt side spoon fed the population.

Within his learning curve he has been taking the ball and is running with it. A Google of his name will bring up many of the articles he has been writing over the last year per California government and the intentional non-disclosure game they are perpetuating on the population due to the money involved.

Carl and Ellen Brown are for State run banks and are promoting the same. My position has been made clear on that point and I would only switch my position if full disclosure of the standing wealth amassed by local governments came openly and transparently into full view for public cognitive understanding and thinking. At this point we are no where even close to that happening and state run banks would only provide another layer of masking of the same.

Please share with others who you think can comprehend what is being discussed here.


The following is sent to you FYI from,

Walter Burien - CAFR1

Another libtard nest goes belly-up!



Get used to it. Democrat government = corruption + bankruptcy.

So will the city workers not get paid?

Were you in northern CA? It's really a different state from the south.

these bankruptcies are fraudulent