{"id":14143,"date":"2011-02-18T06:23:11","date_gmt":"2011-02-18T13:23:11","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=14143"},"modified":"2011-02-17T23:36:25","modified_gmt":"2011-02-18T06:36:25","slug":"greece-is-the-word-is-the-word-is-the-word","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14143\/greece-is-the-word-is-the-word-is-the-word\/","title":{"rendered":"“Greece is the word, is the word, is the word…”"},"content":{"rendered":"

Some of us, here on BHB and elsewhere, have been arguing that a collapse is coming.\u00a0 A financial collapse due to the almost incomprehensibly\u00a0fraudulent practices of the local, state and federal governments.\u00a0 A fraud so immense that most of us can’t even begin to wrap our minds around it.\u00a0 In my home state of California, just to give one example, people still discuss the budget deficit of $19,000,000,000<\/a> to $25,000,000,000<\/a> depending on who’s talking.\u00a0 (Yes, those numbers are in billions.)\u00a0 They do that to avoid discussing the unfunded liabilities<\/em> that are now well over $500,000,000,000<\/a>.\u00a0 Yes, that is $500 billion.\u00a0 No, no other state is even within a factor of that.\u00a0 Yes, that means the state of California is completely lost;\u00a0there is\u00a0no possible way back\u00a0to solvency.\u00a0 This ends with\u00a0a massive federal bailout and\/or bankruptcy.<\/p>\n

My point here is not California, because California’s problems are dwarfed by the massive theft and malfeasance that has happended on the federal watch.\u00a0 I mention them only by way of example, and in that California best portends what’s happening.\u00a0\u00a0What’s interesting, but not at all surprising, is that California does not portend what’s to come.\u00a0 For a glimpse through that window we can look to Wisconsin.\u00a0 Today.\u00a0 Why there?\u00a0 Why not California?\u00a0 Simple: there’s no pain in the Golden State…\u00a0yet.\u00a0\u00a0The good people here continue to elect politicians based on\u00a0the size of their promises.\u00a0 So, while the 8th largest economy in the world burns to the ground, no one seems to notice because nothing is being done about it.\u00a0 In Wisconsin, on the other hand, (where the budget deficit is only $3.1 billion<\/a>) the Governor has set out to make some changes and all hell is breaking loose.\u00a0 Chief among these changes\u00a0is to rid the state of the absurd concept of collective bargaining for state workers, which is nothing more than institutionalized bribery. Imagine a situation where the owners of a company – those in charge of employee pay and benefits – owe their position to the workers<\/em> of the\u00a0company!<\/p>\n

Union Rep<\/strong>: “What we want is a pay raise and greater benefits.\u00a0 If you give us those, we will support Read more<\/a><\/em><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Some of us, here on BHB and elsewhere, have been arguing that a collapse is coming.\u00a0 A financial collapse due to the almost incomprehensibly\u00a0fraudulent practices of the local, state and federal governments.\u00a0 A fraud so immense that most of us can’t even begin to wrap our minds around it.\u00a0 In my home state of California, […]<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[251],"tags":[],"class_list":{"0":"post-14143","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-big-mother","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":4290,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4290\/bloodhound-blog-radio-what-the-fanniefreddie-bailout-means-to-realtors\/","url_meta":{"origin":14143,"position":0},"title":"Bloodhound Blog Radio: What the Fannie\/Freddie Bailout Means to REALTORS","author":"Brian Brady","date":"September 8, 2008","format":false,"excerpt":"I guess we saw this coming.\u00a0 Robert Kerr has been talking about the collapse of the GSE's, in the comments section on Bloodhound Blog, for close to a year now.\u00a0 Sean Purcell and I recorded a teleconference for California REALTORS about the Treasury bailout of the GSEs. We talk about\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14041,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14041\/virginia-legislature-wants-the-commonwealth-to-be-the-golden-state-california-accedes\/","url_meta":{"origin":14143,"position":1},"title":"Virginia Legislature Wants The Commonwealth To Be The Golden State. California Accedes.","author":"Brian Brady","date":"February 1, 2011","format":false,"excerpt":"Worried about a dollar collapse?\u00a0\u00a0 Virginians may worry less because their legislature\u00a0 is proactively investigating solutions: WHEREAS, various systems of alternative currency employing gold or silver, or both, in the form of coin or its equivalent in bullion have already proved themselves in the free market, and could either be\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17291,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17291\/overnight-news-you-can-tell-trump-is-going-to-lose-because-everyone-hangs-on-his-every-word\/","url_meta":{"origin":14143,"position":2},"title":"Overnight News: You can tell Trump is going to lose because everyone hangs on his every\u00a0word.","author":"Greg Swann","date":"October 10, 2020","format":false,"excerpt":"I desperately wanted for this election to be about Marxism: \u201cYou\u2019re what\u2019s for dinner!\u2122\u201d Biden wanted for this election to be about Trump. Biden won. The American people had already priced him out of the deal, and now they have seen that his designated-successor is inept in her own unique\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12721,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12721\/reasons-to-be-not-so-cheerful-part-3-0-0-while-it-may-be-implausible-that-western-civilization-could-collapse-this-much-seems-certain-you-will-not-be-prepared-for-what-happens-next\/","url_meta":{"origin":14143,"position":3},"title":"Reasons to be (not so) cheerful, Part 3.0.0: While it may be implausible that western civilization could collapse, this much seems certain: You will not be prepared for what happens next.","author":"Greg Swann","date":"July 19, 2010","format":false,"excerpt":"So: Let's drop the shit-hammer, shall we? Greece is broke. So is England, and so is most of the rest of Europe. California is broke, Illinois is broke, and, if you count unfunded pension liabilities, not only are all the rest of the states, counties and cities broke, so are\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1889,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1889\/arms-look-scary-before-they-look-good-or-how-wall-street-dupes-the-little-guy\/","url_meta":{"origin":14143,"position":4},"title":"ARMs Look Scary Before They Look Good or (How Wall Street Dupes the Little Guy)","author":"Brian Brady","date":"September 4, 2007","format":false,"excerpt":"I don't look real smart today, do I ? Mortgage rates in general took a fairly substantial dive during the previous week with longer term rates dropping double digits in most cases and some rates returning to mid-2006 levels. However, the Mortgage Bankers Association reported a spectacular increase in the\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5621,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5621\/can-california-cultivate-anything-better-than-the-seeds-of-its-own-destruction-urbanologist-joel-kotkin-tallies-the-states-ills\/","url_meta":{"origin":14143,"position":5},"title":"Can California cultivate anything better than the seeds of its own destruction? Urbanologist Joel Kotkin tallies the state’s ills","author":"Greg Swann","date":"November 16, 2008","format":false,"excerpt":"Joel Kotkin on the rise and fall of the Golden State:Twenty-five years ago, along with another young journalist, I coauthored a book called California, Inc. about our adopted home state. The book described \u201cCalifornia\u2019s rise to economic, political, and cultural ascendancy.\u201d As relative newcomers at the time, we saw California\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=14143"}],"version-history":[{"count":13,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14143\/revisions"}],"predecessor-version":[{"id":14157,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14143\/revisions\/14157"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=14143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=14143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=14143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}