Comments on: California will go bankrupt http://www.creditwritedowns.com/2009/05/california-will-go-bankrupt.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: aitrader http://www.creditwritedowns.com/2009/05/california-will-go-bankrupt.html#comment-56412 aitrader Fri, 15 May 2009 05:07:00 +0000 http://www.creditwritedowns.com/2009/05/california-will-go-bankrupt.html#comment-56412 California's GDP is about the same as Spain's and the economies of both are in similar shape. Spain is contracting at an annual rate of about 8%, which is nearly into depression territory. California is clearly insolvent and facing multiple looming crises. Folks that are talking green shoots seem to be completely oblivous to the brown rotting roots like the above. http://www.abcmoney.co.uk/news1/Spain's-economy-contracts-at-fastest-rate-in-40-years,194346.htm California’s GDP is about the same as Spain’s and the economies of both are in similar shape. Spain is contracting at an annual rate of about 8%, which is nearly into depression territory. California is clearly insolvent and facing multiple looming crises.

Folks that are talking green shoots seem to be completely oblivous to the brown rotting roots like the above.

http://www.abcmoney.co.uk/news1/Spain's-economy-contracts-at-fastest-rate-in-40-years,194346.htm

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