Tag: California bankrupt

Guest Post by Martin Armstrong

Some people have written in and said I am just a Republican and I hate California. Sorry, I consider myself in the middle. I disagree with a lot on the Republican side as well. Simply put, the government should NOT be in the business of trying to manipulate society any more than the Investment Banks have tried to manipulate the markets and when they blow up, they run to the government for bailouts. The fines they get from CFTC ad SEC and just their 10% take of the amount of money they make on such schemes.

Continue reading “California Wealth Tax to be Applied to Anyone Whoever Worked in the State”

Guest Post by Joe Guzzardi

California’s Department of Finance announced that the state faces a mammoth $54 billion COVID-19-created deficit which will, going forward, put the state’s countless public services at risk. Gov. Gavin Newsom projected an 18 percent unemployment rate, a 21 percent drop in new housing permits and a 9 percent decline in personal income.

The grim statistics are worse than at any time during the Great Recession. Newsom described the newest economic forecast as “jaw-dropping,” with COVID-19 wiping out California’s $16 billion rainy day fund and General Fund revenues projected to decline over $41 billion.

Continue reading “Slash California’s $54 Billion Deficit by Enforcing Immigration Laws”

From Birch Gold Group

Government bailouts are being revived, and this time, unlike during the 2008 recession, it appears large financial companies won’t be the only ones asking for help.

The problem is, the government may not be able to help this time.

In response to a bloated state budget and a massive debt of over $550 billion, Newsmax reports that California Governor Gavin Newsom is looking for a bailout from the federal government:

Continue reading “California Just Put Washington in this Economic “Catch-22””