Kalifornia city to pay universal basic income to all

Same city

http://www.stocktongov.com/government/departments/manager/bankruptcy/default.html

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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.

RaceBannon

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.

Southerndawg

Pitchfork51

Im sure OBKunt will have something super enlightening to say on the topic

greenblood

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.

GrundleStiltzkin

That program is being paid with a grant, not tax dollars.

PurpleThrobber

Stockton is a shithole.

dnc

Stockton is a shithole.

YellowSnow

2001400ex

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?

doogie

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

UW_Doog_Bot

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.

YellowSnow

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.

If you pay them, they will come.

2001400ex

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?

CirrhosisDawg

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).

doogie

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?

2001400ex

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.

doogie

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.

CirrhosisDawg

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.

CirrhosisDawg

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.