And California is the Greece of America. Yeah the weather is nice year round in a lot of areas, and the lifestyle is good, but holy shit run away from the taxes and failing gov't.
Stockton, California Files for Bankruptcy
- Thread starter than_west
- Start date
And California is the Greece of America. Yeah the weather is nice year round in a lot of areas, and the lifestyle is good, but holy shit run away from the taxes and failing gov't.
California is not greece yet. If California goes down in flames.. the us will follow.
CA is very important to the us economy.
CA is very important to the us economy.
This is just the start. Once one city decides it can solve its budgetary shortfalls by bankruptcy it wont be long for many others to follow suite. That is once they see how easy it is. Maybe if these government's would actually tighten up their belts and actually do what everyone else does when they dont have money (stop spending) they wouldn't be in this situation.
You're severely overestimating how much people care about Stockton in California. Much less Northern California on the whole.
Its not that people give a shit about Stockton, most people couldn't tell you the first thing about it. The problem is when the mayor of another shitty city hears about this and a light bulb goes off in his tiny little mind.
But then again none of the other states tried to withhold income tax refunds after California pulled that a few years ago.
since when the fuck is stockton a real city anyway? I blame the threat to the south. ((Stockton (city) QuickFacts from the US Census Bureau)) says 57% white, that shits a bullshit lie for that shithole.
Think of how many people banked like a mother fucker. Over paid, under worked, sitting on their asses.
Simply take that tax money from the real workers, then file bankruptcy when your community fails to produce anything real in volume and can no longer pay your $35/hour/health insurance/401k/full benefits package.
Real workers getting gamed...
Simply take that tax money from the real workers, then file bankruptcy when your community fails to produce anything real in volume and can no longer pay your $35/hour/health insurance/401k/full benefits package.
Real workers getting gamed...
Los Angeles has about 2 to 3 years before it's bankrupt. By then, gov't pension obligations will exceed $1 billion a year.
http://www.calwatchdog.com/2012/04/30/los-angeles-teeters-on-the-brink-of-bankruptcy/
http://www.calwatchdog.com/2012/04/30/los-angeles-teeters-on-the-brink-of-bankruptcy/
Stockton is a pretty unique situation for what it's worth. It's indeed a shithole, a low-class farming and port town a stone's throw away from a major metro of 6-7 million people (Bay Area) that has probably the most expensive housing of any metro area in the country. So the Easy Bay middle class buy mcmansions in Stockton and commute to work. But once the construction boom ends and the foreclosures start, a town that's economically depressed to begin with takes it up the ass, hard.
Off the top of my head, I can't think of a situation quite like this anywhere else in the U.S.
Off the top of my head, I can't think of a situation quite like this anywhere else in the U.S.
Not really...stockton is listed as its own MSA, and the housing cost differences between it and the bay are pretty extreme
I used to work at this records office in Milpitas, CA. Had employees at the office driving from Stockton to fucking Milpitas. I thought I had it bad with a 20-30minute drive. These fuckers would commute 2 hours ever fucking morning to get to work on time. Shit must be really bad there.