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California Is First State to Borrow From Federal Government to Make Unemployment Payments

DerekJohnson
DerekJohnson Administrator, Swaye's Wigwam Posts: 69,999 Founders Club
in Tug Tavern
https://wsj.com/articles/california-is-first-state-to-borrow-from-federal-government-to-make-unemployment-payments-11588617257?mod=djemalertNEWS
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  • Bendintheriver
    Bendintheriver Member Posts: 7,211 Standard Supporter
    We know the end game if we continue to force businesses to stay closed and people to stay home. People have to start going back to work right now.

    Idiots like the OR governor are fine destroying businesses. July 5th was a death knell for business owners. Rats will be borrowing money left and right and have no problem with it.
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  • doogie
    doogie Member Posts: 15,072
    I thought California was a Nation State? Eighth largest eKonomy in the World? Funds Washington DC?

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  • Bendintheriver
    Bendintheriver Member Posts: 7,211 Standard Supporter
    doogie said:

    I thought California was a Nation State? Eighth largest eKonomy in the World? Funds Washington DC?

    LOL! Yeah, they like to say that. The counter is, if they are so successful as a state and its commerce, why are they essentially bankrupt? If they were a business they would have been in receivership 20 years ago. Now we are just throwing what will be billions down a completely mismanaged black hole and we will never see that money again.
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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,710 Standard Supporter


    Always remember the golden rule of finance - he who has the gold makes the rules.



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  • RaceBannon
    RaceBannon Member, Moderator, Swaye's Wigwam Posts: 115,797 Founders Club
    I heard the government can float a few months rather easily

    And California can do what it wants
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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,710 Standard Supporter
    RaceBannon said:

    I heard the government can float a few months rather easily

    And California can do what it wants

    The second rule of finance is - when debt gets to the tipping point, the bank doesn't own you, you own the bank.

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  • ramenduck
    ramenduck Member Posts: 734
    edited May 2020
    Bendintheriver said:

    We know the end game if we continue to force businesses to stay closed and people to stay home. People have to start going back to work right now.

    Idiots like the OR governor are fine destroying businesses. July 5th was a death knell for business owners. Rats will be borrowing money left and right and have no problem with it.

    I've been wrong before, but there is no way the rules stay as is through 4th of July holiday. People will riot. Probably far sooner than that.

    Beautiful Oregon summer weather is going to bring this to a head.





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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,710 Standard Supporter
    ramenduck said:

    Bendintheriver said:

    We know the end game if we continue to force businesses to stay closed and people to stay home. People have to start going back to work right now.

    Idiots like the OR governor are fine destroying businesses. July 5th was a death knell for business owners. Rats will be borrowing money left and right and have no problem with it.

    I've been wrong before, but there is no way the rules stay as is through 4th of July holiday. People will riot. Probably far sooner than that.





    It won't make June 4th, let alone July 4th.

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  • MikeDamone
    MikeDamone Member Posts: 37,781
    I thought California supported the entire nation and if they decided to LEAVE we'd be in a world of hurt.
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  • MikeDamone
    MikeDamone Member Posts: 37,781
    ramenduck said:

    Bendintheriver said:

    We know the end game if we continue to force businesses to stay closed and people to stay home. People have to start going back to work right now.

    Idiots like the OR governor are fine destroying businesses. July 5th was a death knell for business owners. Rats will be borrowing money left and right and have no problem with it.

    I've been wrong before, but there is no way the rules stay as is through 4th of July holiday. People will riot. Probably far sooner than that.

    Beautiful Oregon summer weather is going to bring this to a head.





    But they will be shamed by the CoronaBros and Karen's and be accused of killing people
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