Is Stock Market Affected By California's Financial Meltdown?

[Median Democrat]

The supposed Califonria budget deal fell apart over the weekend, then the DOW falls several hundred points on Tuesday. If Rush Limbaugh wants to ruin the Obama presidency, all he needs to do is support the 1/3 Republican minorities' efforts to hold the State budget hostage. The last time they did this, Governor Davis was recalled. I don't put it past the Republicans to try to plunge the largest State into a financial abyss in order to try to score political points.

Look what they tried to do in Congress, and with California's 2/3 super majority requirements, it is much easier to sabotage California, and indirectly the economic recovery of the entire nation.

[underpants]

1. Cali is the 6th largest economy in the world

everything is effected when they have troubles

[Median Democrat]

2. California's Trouble Could Doom American Car Industry

The car capital of the world is about to go under.

[underpants]

10. That's why everyone got scared about their CAFE standards

like cadilitic (sp?) converters once they set that standard everyone had to follow it

[Ghost Dog]

4. Of course.

But, say, Poland seems to get more coverage in the international financial press at the moment.

California (and, maybe, thereabouts) ought to be an independent country by now, imho, with its own (non-federal reserve) currency.

:hide:

[Greyhound]

13. Now 8th (falling from 5th less than a decade ago), but you're otherwise correct.

Unless something happened in the last two days that I don't know about.

[steelmania75]

3. Yes, since it's one of the largest economies in the world. Also, Florida hasn't been looking good..

...in the real estate world, which also helped the housing market crash

[Median Democrat]

5. At Least Florida Still Has Democratic Rule, Not Some Stupid 2/3 Majority Req

If you are a Republican, your vote counts 1 1/3 more than your Democratic counter part in California.

[PurityOfEssence]

6. Everything's affected by everything

That's the problem.

[NorCalDem]

7. Does a bear shit in the woods? n/t

[ProgressiveProfessor]

8. It works both ways, just look at CALPERS

[CreekDog]

9. Yes, because we're bigger than France

but smaller than Jesus.

and hopefully our end will be better. :hide:

[Median Democrat]

11. Maybe Republican Don't Think Californians Are "Real" Americans

[Johonny]

12. unless they live in Orange county