It was not long ago,the people of California dumped the other Governor,that wanted the company responsible of providing electricity in the State,to return to its costumers about 2 billion dollars it apparently has charged them extra.After that as we know they placed him in power,and the first job he did,was sign a paper that allowed the company to get away without ever paying back the 2 billion.These actions when repeated many times in any nation,allows to reach the point the US has reached.It is time this people pay for all the Evil they had,and continue doing across the Globe,and the fact they elected that clown it surely accelerates the process

I live in British Columbia, Canada, and saw this coming months ago, I am not a economic expert but it doesnt take one to see that bad management is still bad management. Last time this happened British Columbians (highest taxed in North america) Piped electricity down to California, and then the watched as the state defaulted on payments (over a billion $), the feds used Nafta to back that up, and we were stuck holding the bill.

Jct: There’s nothing wrong with small denomination California State IOUs if I or anyone else can pay their taxes with them. When Argentina’s government workers were faced with cuts, their unions talked 6 state governments into paying them with small-denomination state bonds which could be used to pay for state services and taxes and which everyone accepted as useful currency. Best of all, when the local currency is pegged to the Time Standard of Money (how many dollars per unskilled hour child labor) Hours earned locally can be intertraded with other timebanks globally! In 1999, I paid for 39/40 nights in Europe with an IOU for a night back in Canada worth 5 Hours. U.N. Millennium Declaration UNILETS Resolution C6 to governments is for a time-based currency to restructure the global financial architecture. See my banking systems engineering analysis at http://youtube.com/kingofthepaupers Too bad California State IOUs won’t be accepted in payment for state taxes and services like state bonds were in Argentina. Too bad California State IOUs will be denominated too big to use as local currency. Too bad Argentina people were smart enough to avoid the tent-cities catastrophe and California people are too stupid to follow their example.

this is not the first time this has happened here. The last five years California has lost 25% of its heavy manufacturing jobs in over 33% of its high-tech manufacturing jobs. I heard on the the news here the last automotive plant in California is slated to close. Also living here in the San Joaquin Valley I have seen more than 35% of the farmland close to farming due to the federal government shutting down the water supply, they estimate a loss for the county I live in is almost $1 billion US.

Where were all these crying babies when the incompetent office holders were being elected to high office? You people got what you voted for, so stop the whinning and vote the creeps out. otherwise, just enjoy your new poverty. You re not the only people impoverished by falling for the slick news media scams that got empty talking heads elected. Enjoy your new status, it may be the best time of your life, because some miserable times are in the cards. You can keep drinking the "kool aid" and believing all the propaganda being fed to you, or you can start to think for yourself. The future is up to you, the voters.

problem is: Caloforina's government and people's philosophy of socialism; tax the reich to feed the poor (mexican border jumpers) paying thier civil sevants, too much, too many regulations, fees ,etc upon buisinesses....Most of conservative america is laughing at California , now. A certain Russian sociologist has predicted USA will dissolve the Union and break up into different economic political city-states or regions. All states with leftist, marxist, porgressive self styled legislations are now failing; fiscally conservative Texas is flush with extra cash, and will soon tell the fascist Barry Insane O' Bummer thieves in Washington that it is forming it's own republic. They should let the liberals in the northeast, freeze to death! The country would be better off. I plan to leave New hampshire for Texas if i find work there.