Just wondering what others are thinking.

Portugal, Ireland, Italy, Spain, Greece, along with France, are on the verge of collapse.

The system worked for a generation before they discovered the word "unsustainable."  

Next is California

I think the fact there talking about it means the IMF and EC will have to bail them out and next will be Pourtgal then Spain. Not to mention Greece may need another bail out.

The real problem is the interlocking debt of all the banks. Spainsh banks owns the Irish bonds Germany owns Portugal, Itialian debt. If one goes they all go. It's the Global new world order that's the real problem.

I do know the German public is feed up with all this. They are hard working and don't like the idea of bailing out Greece with all there welfare, retire at 58 on full pensions.

under Brown will go the Goverment and get a loan from Obama. They will wait until we get closer to 2012. It will be easy. Mr. Pres. give me the money and I will deliver Ca to the DEM. The Pres. and Dems will push thru the loan and Ca will survive for a few more months. But down the road they will fail along with a lot of major cities in Ca, San Diego, LA, Sac.

The guys in "The Big Short" figured out how to do it with real estate.

CA cannot wait until 2012 for the bail out.  We are 25 billion short now, and that is just six months.
I think the 25 is understated. I know that CA may face an 8 billion dollar order from fed courts re prison conditions, so just counting that we are really 33 billion short.

The pres and the Dems can't bail CA out without the House.  The people from responsible states won't vote to help.

Even New Jersey will vote against CA, since NJ is bitting the bullet and won't be overjoyed to bail out CA when CA keeps spening.

The amount of money CA needs is so huge, they won't be able to slip it by without a hell of a lot of notice.  Build America Bonds have specified uses.  A "Bond" to cover union pensions or other stuff CA need to pay for is going to cause such a ruckus.

No way.