What Happens to States When They Run Out of Money?

a reply to: JAGStorm

Easy Answer:

The Great Reset

It is coming

There will be a Dollar collapse, and since all other currencies are pegged to the Dollar, they will collapse as well. I believe it is planned, and has been for a long time. They will go with a new digital currency. Thats when you will need to be chipped in order to participate. Refuse and you dont buy anything. There will likely be a real quick war right after the initial collapse. I suspect it will last about an hour.
This isnt just a state issue. Its federal reserve, and world wide. Its everyone's problem.

Got your freezers stocked up? Got your bug out plan? Got supplies? If not, get ready.

The writing is on the wall.

Remember where that saying came from? Scripture.

Belshazzar's feast, or the story of the writing on the wall (chapter 5 in the Book of Daniel), tells how Belshazzar holds a great feast and drinks from the vessels that had been looted in the destruction of the First Temple. A hand appears and writes on the wall. The terrified Belshazzar calls for his wise men, but they are unable to read the writing. The queen advises him to send for Daniel, renowned for his wisdom. Daniel reminds Belshazzar that his father Nebuchadnezzar, when he became arrogant, was thrown down until he learned that God has sovereignty over the kingdom of men (see Daniel 4). Belshazzar had likewise blasphemed God, and so God sent this hand. Daniel then reads the message and interprets it: God has numbered Belshazzar's days, he has been weighed and found wanting, and his kingdom will be given to the Medes and the Persians.

That very night Belshazzar the Chaldean (Babylonian) king was killed, and Darius the Mede received the kingdom.

— Daniel 5:30–31[1]

The US is going to fall. not just certain states

a reply to: JAGStorm

They ask for federal funds

And it comes with a much larger price tag than what’s needed to cover the debt

There is a sasquatch in Illinois.
Seen it it with my own peepers.
Maybe they can make a tourist draw and fill the coffers.

a reply to: JAGStorm

I hear China is very willing to lend money...

How's your Mandarin?

originally posted by: keukendeur
a reply to: JAGStorm

I hear China is very willing to lend money...

How's your Mandarin?

I'm brushing up on my pick-up lines.
There are several million hot chicks in China.
Hēi, bǎobèi……xiǎng shēng háizi

What Happens to States When They Run Out of Money?

Just like the US government did with the underwater mortgages in 2008 .
Bundle em up and sell em to China.

It's a boom and bust system like everything since the discovery of the New World.

Look at Michigan. Starts out in the fur trade, when the fur trade was waning, they logged out all the old growth forests and built cities and farms. The early booms caused by the exploitation of resources winds down when the resources become scarce. Then, with wasteful farming practices they used up the top soil and began the dust bowl process. By this time thriving lumbering and farming communities shrank and disappeared as people move to the next boom town with opportunities.

Detroit is another good example that follows this process as the rest of the state had. Fur, lumber, agriculture, salt mining, and other industries. Opportunities like the auto industry come along and go bust. A continuous cycle of boom and bust, it's all they know.

a reply to: JAGStorm

States operate on contracts if they start running out of money they will be forced to default on contracts. What those will be will depend on the governor could be pensions for example. Or they could decide to close parks depends on how much they are short. They could decide to close down entire departments or only open them for part of the year. What happens depends on how many contracts they have to break.

I've been saying for a while in these arguments that either everyone agrees to make do with less of what we expect from the government or else we end with nothing at all.

originally posted by: ketsuko
I've been saying for a while in these arguments that either everyone agrees to make do with less of what we expect from the government or else we end with nothing at all.

Sound good on paper, not so much in real life.

House on fire - good luck
Need the police - good luck
schools - buhahahahah that's already happening in Illinois!
True story, when my son went to school there, some of his textbooks were 50 YEARS old!! The information in them was incorrect for the modern day. Illinois is also the only place I know of that built a fancy library but then ran out of money to fill it with books!

a reply to: JAGStorm

Sounds to me like it's time to figure out what's really essential and what's not, isn't it?

When it comes to education, what do kids really need to learn and what do they really need in order to learn it?

Do we need police and fire services or do we need to government to pay for fancy programs in subsidized housing - things regular families often can't afford?

How much pension is too much pension? How much salary is too much salary? How many government bureaucrats are too many?

a reply to: EdisonintheFM

Give it back to the citizens of NC

a reply to: ketsuko

Do we need police and fire services or do we need to government to pay for fancy programs in subsidized housing - things regular families often can't afford? How much pension is too much pension? How much salary is too much salary? How many government bureaucrats are too many?

Yes I absolutely believe we need police and fire services.
Their pension is a different discussion.
Same with subsidized housing, again another discussion.

Back to the police pensions. All public sector pensions should work just like the public sector, 401K style that you have to contribute. Sure there can be a match, but it should all be on the taxpayer dime.

a reply to: JAGStorm
I wasn't saying we shouldn't have those things necessarily. I was just saying that you might be looking at what's more important, more useful to the greatest number of people.

It might be an either/or game.

a reply to: ketsuko

I am hoping for this solution, K. Maybe my part of Illinois will be absorbed either into Indiana, or Missouri, where the gun laws are much better, while being permanently divorced from that s**thole Chicago.... That'd be something to inspire hope

Every liberal state in the union has run out of money, a long time ago. They get stimulus bills by their liberal commie buddies in DC.

originally posted by: ketsuko

originally posted by: NotGuilty
a reply to: ketsuko

I don’t know much about economics or government. But I do know somethings wrong when BP is too big to fail, but Illinois isn’t.

Nothing should ever have been too big to fail.

These same words should be tattooed, both backwards and forwards, in bold letters, across every American politician's forehead!!

Backwards, so they see these words every single time they look in the mirror!!! EVERY...SINGLE...TIME!!!

"NOTHING IS EVER TOO BIG TO FAIL!!!"
"!!LIAF OT GIB OOT REVE SI GNIHTON"[/B][/I]