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Kalifornia city to pay universal basic income to all

doogiedoogie Member Posts: 15,072
in Tug Tavern
Same city

http://www.stocktongov.com/government/departments/manager/bankruptcy/default.html
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  • section8section8 Member Posts: 1,581
    Same city that had the highest per capital default on mortgages and home refinance to buy a Trans Am during 2006-2008. There’s not a lot of good personal finance decisions being made by the population down there.
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  • RaceBannonRaceBannon Member, Swaye's Wigwam Posts: 105,790 Founders Club
    Deficits don't matter until they do. We've never reached that point in our modern but to act like it can't happen is beyond FS. We only get to borrow on the cheap because the rest of the world still believes in the full faith and credit of the US Government. If that changes we fuct biggy.

    We have a fundamental problem in this country in that we want way more in benefits than we are willing to pay for them. And it's not just the fault of 'po people sucking off the guvmint tittays.
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  • SoutherndawgSoutherndawg Member, Swaye's Wigwam Posts: 8,296 Founders Club
    edited February 2018
    Deficits don't matter until they do. We've never reached that point in our modern but to act like it can't happen is beyond FS. We only get to borrow on the cheap because the rest of the world still believes in the full faith and credit of the US Government. If that changes we fuct biggy.

    We have a fundamental problem in this country in that we want way more in benefits than we are willing to pay for them. And it's not just the fault of 'po people sucking off the guvmint tittays.

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  • Pitchfork51Pitchfork51 Member Posts: 26,949
    Im sure OBKunt will have something super enlightening to say on the topic
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  • greenbloodgreenblood Member Posts: 14,412
    edited February 2018
    http://www.recordnet.com/news/20180124/stockton-gets-b-on-its-financial-report-card

    I wonder if Stockton is strong financially because 5 years prior like doogie mentioned, all of their debt got wiped away.

    I used to think that Trump saying declaring bankruptcy was a financial tool was idiotic. After reading into the Stockton situation, I'm beginning to see his point.
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  • GrundleStiltzkinGrundleStiltzkin Member Posts: 61,499 Standard Supporter
    That program is being paid with a grant, not tax dollars.
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  • PurpleThrobberPurpleThrobber Member Posts: 44,156 Standard Supporter
    Stockton is a shithole.
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  • YellowSnowYellowSnow Moderator, Swaye's Wigwam Posts: 35,405 Founders Club
    Deficits don't matter until they do. We've never reached that point in our modern but to act like it can't happen is beyond FS. We only get to borrow on the cheap because the rest of the world still believes in the full faith and credit of the US Government. If that changes we fuct biggy.

    We have a fundamental problem in this country in that we want way more in benefits than we are willing to pay for them. And it's not just the fault of 'po people sucking off the guvmint tittays.
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  • 2001400ex2001400ex Member Posts: 29,457
    greenblood said:

    http://www.recordnet.com/news/20180124/stockton-gets-b-on-its-financial-report-card

    I wonder if Stockton is strong financially because 5 years prior like doogie mentioned, all of their debt got wiped away.

    I used to think that Trump saying declaring bankruptcy was a financial tool was idiotic. After reading into the Stockton situation, I'm beginning to see his point.

    Please tell me you understand the difference between a city restructuring their debt and the entire country. What happens to the value of the dollar if we even threaten to default?
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  • doogiedoogie Member Posts: 15,072
    edited February 2018
    who is threatening default? I am fully aware it’s what You people WANT to have happen but, who is threatening default?
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  • UW_Doog_BotUW_Doog_Bot Member, Swaye's Wigwam Posts: 15,780 Swaye's Wigwam
    Just for you that aren't already aware the city of San Fran already pays homeless people for living there. Then they wonder why there are so many homeless in San Fran. FS.
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  • 2001400ex2001400ex Member Posts: 29,457
    doogie said:

    who is threatening default? I am fully aware it’s what You people WANT to have happen but, who is threatening default?

    What do you think it means by declaring bankruptcy?
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  • CirrhosisDawgCirrhosisDawg Member Posts: 6,390
    Bankruptcy and default are not at all the same thing. Stockton declared BK, and did default on some of its debt at the same time, but not all of its bonds. It defaulted on lease rev and pension obligation bonds. It never missed a utility bond, redevelopment, CFD bond or cal pers payment.

    Most states, like the federal government, cannot declare BK under their Constitiutions. They would default and extend-pretend into the future (see puerto Rico).
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  • doogiedoogie Member Posts: 15,072
    2001400ex said:

    doogie said:

    who is threatening default? I am fully aware it’s what You people WANT to have happen but, who is threatening default?

    What do you think it means by declaring bankruptcy?
    Is that what you think Trump is doing?
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  • 2001400ex2001400ex Member Posts: 29,457
    doogie said:

    2001400ex said:

    doogie said:

    who is threatening default? I am fully aware it’s what You people WANT to have happen but, who is threatening default?

    What do you think it means by declaring bankruptcy?
    Is that what you think Trump is doing?
    Scroll up and read greenbloods post. Dumbass.
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  • doogiedoogie Member Posts: 15,072
    edited February 2018
    2001400ex said:

    greenblood said:

    http://www.recordnet.com/news/20180124/stockton-gets-b-on-its-financial-report-card

    I wonder if Stockton is strong financially because 5 years prior like doogie mentioned, all of their debt got wiped away.

    I used to think that Trump saying declaring bankruptcy was a financial tool was idiotic. After reading into the Stockton situation, I'm beginning to see his point.

    Please tell me you understand the difference between a city restructuring their debt and the entire country. What happens to the value of the dollar if we even threaten to default?
    Yes, you asked this in a city thread.

    But since now, you’re ignoring what you wrote earlier and you’re now pretending you meant, “What happens to the US Dollar if Stockton, California even threatens default, the obvious answer is, absolutely nothing.
    So, you see, either way, you’re fucktarded.

    Then again, perhaps you were talking about the New Kalifornia Dallir? Same answer, nothing.
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  • CirrhosisDawgCirrhosisDawg Member Posts: 6,390
    Loaded up on SPX March 30 2640 Puts on Thursday.

    Obvious trade seemed obvious with the likely release of the FBI release of the FBI vetted summary last Friday.
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  • CirrhosisDawgCirrhosisDawg Member Posts: 6,390
    doogie said:

    2001400ex said:

    greenblood said:

    http://www.recordnet.com/news/20180124/stockton-gets-b-on-its-financial-report-card

    I wonder if Stockton is strong financially because 5 years prior like doogie mentioned, all of their debt got wiped away.

    I used to think that Trump saying declaring bankruptcy was a financial tool was idiotic. After reading into the Stockton situation, I'm beginning to see his point.

    Please tell me you understand the difference between a city restructuring their debt and the entire country. What happens to the value of the dollar if we even threaten to default?
    Yes, you asked this in a city thread.
    Loaded up on SPX March 30 2640 Puts on Thursday.

    Obvious trade seemed obvious with the likely release of the FBI vetted summary last Friday.
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