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could be a problem
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could be a problem

  #11 (permalink)
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goldilocks View Post

This next article was even more difficult to consider, but I thought he was an interesting enough source. And, the concept is fascinating. As if Things Weren't Bad Enough, Russian Professor Predicts End of U.S. - WSJ.comFor a decade, Russian academic Igor Panarin has been predicting the U.S. will fall apart in 2010. For most of that time, he admits, few took his argument -- that an economic and moral collapse will trigger a civil war and the eventual breakup of the U.S.

Disclaimer: This does not say I think this'll happen or agree or anything.. just adding to the previous conversation.. LOL!

9 Vermont state office candidates favor secession
SHELBURNE, Vt. – Peter Garritano thinks it's time for Vermont to call it quits with America.

The way the 54-year-old automobile salesman sees it, the "empire" is about to implode and tiny Vermont can lead the way by becoming its own independent republic. So he's running for lieutenant governor, topping a slate of secession-minded candidates seeking statewide offices this year.

9 Vt. state office candidates favor secession - Yahoo! News

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  #12 (permalink)
Elite Member
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: NT
Favorite Futures: ES
Posts: 65 since Sep 2009
Thanks: 117 given, 76 received

I was doing some reading and thought some of you might find it interesting:

"It is simply stunning that 44 states are facing shortfalls either for this fiscal year, or will come up short in 2010 or 2011. This puts virtually the entire country in a difficult financial situation."
Fiscal Situation of 50 States: Combined Budget Gaps Estimated at $350 Billon for 2010 and 2011.

Those of you in Texas might appreciate hearing that your state is one of the very few that is considered to be faring better than most:

.."a key factor often missed in these kinds of discussions is Texas’ reliance on sales taxes rather than income taxes. Income takes a much bigger hit than consumption during economic downturns because people try to maintain their living standards while enduring temporary wage cuts or unemployment spells. So income tax revenue tends to fall further than sales tax revenue during recessions, leaving income-tax-reliant states facing deeper fiscal shortfalls."
On the Record: Texas in Better Fiscal Shape than Most Other States - Southwest Economy, Fourth Quarter 2009 - FRB Dallas

This article examines the "big four" : CA, NY, TX, FL. "The most tax-averse states over the years are in the best shape in these times of foreclosures, layoffs, bankruptcies and negative economic growth. That’s because their lower taxes produced less tax revenue for lawmakers to spend. Those lower-tax states had fewer and less-expensive government programs, and therefore have a much smaller budget hole from which to dig out."
Why Some States Are in Better Fiscal Shape - Capital Journal - WSJ

Ok. This is op/ed page, but has some interesting considerations: "We didn’t pay attention to the housing bubble. We closed our eyes to warnings that the levees in New Orleans were inadequate. We gave short shrift to reports that bin Laden was determined to attack the U.S. And now we’re all but ignoring the fiscal train wreck that is coming from states with budget crises big enough to boggle the mind."
Op-Ed Columnist - Invitation to Disaster -

NEW YORK ( -- "The same economic pressures that pushed California to the brink of insolvency are wreaking havoc on other states, a new report has found. The 10 most troubled states are: Arizona, California, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin.
Other states -- including Colorado, Georgia, Kentucky, New York and Hawaii -- were not far behind."
Ten most troubled states in the U.S. - Nov. 11, 2009

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