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Should We Sell California To China (Asset Buyout And Assumption Of Debt) In Exchange For Debt Forgiveness?
Submitted by Marla Singer on 08/01/2009 21:01 -0400
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Oh man, you don't get it. The cost to run China is 0. CA would be the same thing.
I voted to sell CA because I never liked how the LAX only had CD/tape players and beef jerky in duty-free. Like, srysly, FTW?!
Heck we should pay China to take California!
I hope this is for entertainment purposes only. If debt forgiveness was even received for such a ridiculous thing, our politicians would continue to think they can spend our way to prosperity, so states would continue to be sold in exchange for debt forgiveness. Ultimately, selling California would not cure the patient. I think a better idea would be to sell any politician into slavery that doesn't operate by the modus operandi, "be good and do good."
You sir are a genius! Best idea I've heard in a while.
"If debt forgiveness was even received for such a ridiculous thing, our politicians would continue to think they can spend our way to prosperity, so states would continue to be sold in exchange for debt forgiveness. Ultimately, selling California would not cure the patient."
Nah--after selling a couple of states, the market would be saturated. Who the hell would buy Iowa, anyway?
I don't think the US should sell off California, which has a whole bunch of slutty hotties and Porn Valley. Let the hotties work their way out of debt and keep everyone happy.
Gives a new meaning to "scheduled days off."
Just sell of Iraq and futures to Iran instead. It cost a couple of trillion--break it up into various regions and try to sell the parts for more than the whole.
I clicked on YEAH while thinking, damn that's where I live... as long as Chinese get rid us from CA government, but then I had a little remorse considering all of the Chinese migrant workers moving in here and driving our wages into oblivion...
Why sell it. A better option is to enter into a default swap with Mexico. Using the proceeds then enter into a swapation with Japan. Then tranching the risk into six tiers. Issuing equity on the senior debt. Then rolling the subordinates into pools, sold to pension funds. Then, only, then, through a bilateral netting agreement would I enter into contract with China.
thats pure quant genius
best wishes
mock turtle
Igor Panarin beat you to this point anyway. And William Strauss and Neil Howe already beat you to the Federal Tax withholding issue as a catalyst to the next crisis. What is interesting here is that I expected Texas to be the first state to secede and refuse to turn in Federal taxes.
Maybe Alaska
Yeah, that's another good one.
the chinese already own vast swaths of
california and if we sold it the mexicans
might get really really mad.
california would also be like a potato
chip wherein not just one could be eaten...
I forgot the 80Billion tax free that flows to Mexico right into the hands of the Oliarats!!!
What country, work, pay no taxes, get free medical, housing, food and spend the holidays in Cancun...
Let's just give it back to Mexico in exchange for Pemex. The transition would be smooth, think China/Hong Kong...
I'm from California, and guess what I voted...If legislation really has their head as far up their a$$ as it appears, they're already half way to China anyway, why stop now...
get the fuck out of california you traitor
Can't you just feel the love. Man, you got to believe the rest of the nation just loves California with the influx to this state from others. In all honesty, I'd keep California. 10th largest economic nation in the world and the butt of alot of good jokes.
Ummmm...you know the net migration is *out* of California, right? The birth rate is the only thing keeping your population growing.
Source please.
It took me < 5 seconds to find a whole slew of articles, and I refuse to believe you're as helpless as you seem.
Look , I'm trying to see your sources to respond specifically. Your "it's all over the web" response is a general one. I've seen the articles on The Web and would have to response forever without knowing any specific one, I can't. So as a fourth generation California native, I'd love to return to the "Huntington Beach" era of the late 60's but that won't happen. I will restate my position on the authors' divisive and rhetorical question; external interests have aided to the current state of California. I can provide many life experiences, but I'll summarise it this way. I didn't know other states hated California until I traveled the country for work. What I found was that generalizations created about California, and other States for that matter, were just that, generalizations. I therefore contend that if the good people of this country were to remove their blinders and look, they would see that California has/had a lot of good qualities, just like other States in the US of A. I don't know the author's motivation for asking this question and have to contend that it is naive. So perhaps she would explain.
We would hardly need debt forgiveness if we sold it to them. We could teach them how to re-aim the nuke missiles too.
What else do you have on offer?
Seriously.... A lot more than the belief that a joke about disenfranchising the people who actually generate a little bit more than the vision that america just wants to conquer the middle east for petrol dollars. How about actually working to find a solution towards how we fix this problem rather than saying "democrats are socialists" or "barack is not an american citizen".... The truth is all of us got into this mess and to say let's sell off a portion of ourselves for a joke is rather naive and juvenile.... It's not the political structure thatcaused this, it's a combination of our own ignorance and the state of the current economic structure. How about producing a generation that seeks to understand rather than one who just wants an answer spoon fed to them. I believe we are on the verge of that and for that I look forward to the collapse, but to just blame it on anyone but ourselves for allowing it to happen is both naive and ignorant. Stand up and take responsibility for the evils we let happen, anything else is beneath what an American should be. Or for that matter, a human being.
We have brought this mess upon ourselves by buying into the idea that our individual voice/vote does not count. By not making our concerns apparent to the politicians (many of whom would have been replaced is we had made the effort to vote) we encouraged business as usual (ie look after self first and to hell with the rest). This coupled with the lack of oversite by the said politicians allowed the banks and Wall Street to go their merry way. The same old story is heard ... I was just following orders ... I just followed the letter of the law ... everyone else was doing it. No honor ... No pride ... No integrity .... and we expect change?
"It's not the political structure that caused this"
Not to be rude phaesed, but either you are completly naieve or you work for Goldman. Do you live in Cali? Cuz if you don't then you are simply talking out of your a$$. And all of your ad populum rhetoric you can give to the birds...
Wow, I'm flattered you think I work for Goldman, as for naive (I'll forgive the mispelling, could have just been an innocent mistake, kinda like Carbon Fiber freezing)... well, the jury is out on that one. Do you really think our politicians are so smart as to realize what the effect of the actions are? No, they just want answers and the Fed provides one to them.... defraud the public and make them happy with inflation... And most are. They hear about monetization and they complain about the troubles, but are happy with the inflation. How inflation came to be found as a good thing is simple... Inflation is what made the majority equities perform during 1913 to 1929 (both periods had a curious number of "Stocks for the Long Term" books, check out Edgar Smith, he was the first in the 1920's) and the 1980's till 2009, *NOT* fundamental performance as most CFA's would like you to believe. Anyways, I digress...
Blame the banker who offers the sugar coated pill, not the politician who swallows it... We know they're whores already.
Wow.... I'm so proud of you Americans, willing to sell out your own kind for some debt forgiveness. I'm sorry, would you suck dick on the corner as well to forgive some of your debts?
No. But it has worked out well for my sister.
Fuck California and the people that live there. They have lead the way in destroying this country.
The proper spelling would be "led" the way, by the way.
i like leds. they are energy efficient
EAT SH*T AND DIE
Nah, Americans won't walk that far.
Are you kidding? This would be stupid! China owns a bunch of pieces of paper we gave them. Why would we give them a hard asset???
Correct! They own nothing but a promise. Never sell the hard assets for a promise.
Correct! They own nothing but a promise. Never sell the hard assets for a promise.
it is a toxic asset though.
China has ~$2.1 trillion of reserves. The U.S. government should offer California for sale at $4 trillion, and offer to finance the purchase.
lol China doesn't need to buy income. That's not how a command and control economy works.
lol, you tell'em!!!
Exactly.
Marla, have you given up on zee music?
I, for one, welcome my new capitalist overlords.
At least I could get ahead.
nice simpsons reference
you guys are gonna piss off The Terminator.
C'MONNNNNN!!
Where is the "HELL YEEEAHHHH" box to check??!!
XOXO,
Sarah, the Bridge to Nowhere Palin
I voted no. Screw China. Let them eat dollars. I will even ship them habanero sauce to to spice it up a bit.
As for Cali, not worth a nickel, if you have to take the debt with it. Unless Cali goes bankrupt first, there is no value. Think for a minute trying to extract any value from the state. The only asset worth anything are the marijuana farms in the nortwest state. The farms aren't worth anything because their water is being confiscated, the towns consume resources, and the gold is being held in the ground because of environmental reasons. They cannot even extract the offshore oil.
It would be cheaper simply to nuke California, get rid of the people and start over. It would have the advantage of lower the US carbon footprint. Think of the carbon credits the federal government could claim after nuking Cali. We could eliminate the income tax.
I will finally be able to get down the damn 405 at >5mph
Please don't. I live in California and don't speak Chinese. Jeesh, I just learned Spanish.