Stockton, CA: The first domino?

I think that Detriot was the first to fall. They just had better lawyers to cover it up.

But Stockton will be the one to put the spotlight on the rest. If the media doesn't cover it up...which I see they are already doing.

reply to post by Wrabbit2000


The conservatives have always bailed out the spendthrifts in this country in the past. For the good of the people is mostly used against the conservative people. Everyone pays for the waste and irresponsibility of these people, our laws protect the risktakers.

Originally posted by Lazarus Short
The only workable long-term solution would be to cancel and forgive ALL debt. That would include private, consumer, industrial, student, local, city, county, state, and national debts. Our current financial situation is the inevitable result of a debt-based economy, which (by design) lacks the money to pay back the debt. If the debt cancellation/forgiveness could be made world-wide, it would be even better.

Well this would be fantastic if you were a borrower, but surely all debt has two sides. For every borrower who benefits, there is a lender who loses. Suppose you had loaned me $5000 to buy a second hand car. All debt is suddenly cancelled and I'm not giving you your money back. Sweet. Or an honest American industrial firm supplying goods on 60-day credit. Cancelling the debt will really help to pay staff wages.

I'd say the only workable long-term solution is for borrowers to ensure that they don't overstretch themselves. That would include consumers, industrialists, students, and local, city, county, state, and national governments.

Bah this means nothing in my opinion. I live in a bankrupt city (Vallejo, CA) and I believe we were the first major city in Cali to go Bankrupt.... Nothing's Changed we are still here and the city is still Hella Dangerous.. The only thing that changed is when the cops show up now and do absolutely nothing they say if you want better service Vote to reinstate the police Funding... problem is when the funding was there they got cut because they didn't do anything anyways lol the only thing that's changed is instead of the Homeless being on corners, now they Squat in empty houses all over the place...some of them have better houses than I do and they don't pay nothing because the police refuse to do anything unless there's a Homicide. The streets pretty much Govern themselves here which is Sad because I still call the cops in hopes they can help. And it'd be my luck if I ever took matters in my own hands to handle my own problems because of their negligence, it'd probably me they use an example.

reply to post by burdman30ott6


Unfortunately i don't believe being able to afford to move to greener pastures will be an issue much longer. I fear that a majority of Americans will be unemployed and homeless before this is all over. But hey look at the bright side you can walk anywhere you want to.

Originally posted by burdman30ott6

This is BIG in my opinion. The precident has now been set...

This is hardly the first county to go bankrupt. Orange County, California, a huge conservate/republician/fundamentalist and wealthy enclave in Calfornia went bankrupt in 1994.

www.nytimes.com...

Originally posted by FyreByrd

Originally posted by burdman30ott6

This is BIG in my opinion. The precident has now been set...

This is hardly the first county to go bankrupt. Orange County, California, a huge conservate/republician/fundamentalist and wealthy enclave in Calfornia went bankrupt in 1994.

Different situation entirely and I'm a bit amused at your attempt to throw that mess in the Conservatives' laps. Bob Citron was responsible, almost single handedly as O.C. Treasurer, for the ultimate bankruptcy through a seriously messed up "investment" scheme he directed, operated, and oversaw. Bob Citron was also the sole Democrat official of the county. en.wikipedia.org...

The O.C.'s bankruptcy was the result of, essentially, a high level rogue trader (Citron). Stockton is insolvent largely because of their own voters and the imbeciles those equally deficient voters voted into power. Nobody bothered to listen to the few who said troubles were brewing and here's the result.

Originally posted by burdman30ott6

Originally posted by FyreByrd


This is hardly the first county to go bankrupt. Orange County, California, a huge conservate/republician/fundamentalist and wealthy enclave in Calfornia went bankrupt in 1994.

Different situation entirely and I'm a bit amused at your attempt to throw that mess in the Conservatives' laps. Bob Citron was responsible, almost single handedly as O.C. Treasurer.

You may be absolutely right but even so I can't help thinking that it's the conservative (as defined these days, robber barron, laize-faire capitalist) way of doing business. He, I'm sure went to the very best schools in the fine tradition of "as long as you don't get caught, its okay".

I was refuting the 'first domino' statement of the OP, nothing else really. But the irony of Orange County is too good to pass up. Hey, I've friends behind the Orange Curtain (as we call it) but I'm glad I don't live there.