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  1. #11
    Quote Originally Posted by tarheelsman71 View Post
    I think it isnt just the states that are going bankrupt. ALOT of companies are dying right now. My company cut everyone's pay by 20% to save the business. A couple of friends of mine jobs (that are still working) did the same thing. Local hospitals are probably in the worst shape since they planned for global pandemic and chaos and now 2/3 of the beds in the hospital is empty. They erected a huge tent for "overflow" that was never used. They have furloughed 1/2 their nursing and Dr's and a friend that is the dir of maint (that sits on the budget meetings with all the other directors) says they are 2 months from having to close their doors. CFO's in all companies are praised and paid boocoo bucks to create a system to walk that line of Cost/profit vs performance. not sustainability. I worked in nascar for 2.5 years and they are in the same boat. Layoffs and pay cuts. And their sponsorship money was already in the bank long before Covid showed up. So can the states go bankrupt...absolutely. Can the Fed's bail them out...absolutely. But with borrowed or FIAT currency that really has no value and then the economic collapse we prepped for is upon us. Right now the toilet boil has started to swirl, catching all the Shiitake up in the eddys. It hasnt reached full on FLUSH yet, and this will be a long ride down the chute, but this might just be the reason it all goes south.

    "Wes says- When society takes the big flush, we will be the ones clinging to the rim!"


    Now add in the prospect of dementia Joe getting elected in November. Not only there goes your "AR14" but the economic will go further to crap like it did under the liberal savior from Kenya years ago.

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  2. #12
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    Quote Originally Posted by tarheelsman71 View Post
    I think it isnt just the states that are going bankrupt. ALOT of companies are dying right now. My company cut everyone's pay by 20% to save the business. A couple of friends of mine jobs (that are still working) did the same thing. Local hospitals are probably in the worst shape since they planned for global pandemic and chaos and now 2/3 of the beds in the hospital is empty. They erected a huge tent for "overflow" that was never used. They have furloughed 1/2 their nursing and Dr's and a friend that is the dir of maint (that sits on the budget meetings with all the other directors) says they are 2 months from having to close their doors. CFO's in all companies are praised and paid boocoo bucks to create a system to walk that line of Cost/profit vs performance. not sustainability. I worked in nascar for 2.5 years and they are in the same boat. Layoffs and pay cuts. And their sponsorship money was already in the bank long before Covid showed up. So can the states go bankrupt...absolutely. Can the Fed's bail them out...absolutely. But with borrowed or FIAT currency that really has no value and then the economic collapse we prepped for is upon us. Right now the toilet boil has started to swirl, catching all the Shiitake up in the eddys. It hasnt reached full on FLUSH yet, and this will be a long ride down the chute, but this might just be the reason it all goes south.
    While everyone thinks GA, OK, and CO are jumping the gun, I think it's time to see if we can get the economy back on track while co-existing with the Wuhan Flu. Given the proper precautions, it should be possible. It won't be the same as it was last year, but it will be a heck of a lot better than watching the whole country go down the financial drain.

  3. #13
    We have 50 states, and they vary from "really bad management" to "pretty responsible management". The badly managed states are kind of like the kid who always brings home the report card with all D's and E's... It's never his fault, it's always the mean teacher, the bad school, life's not fair, yada, yada, yada.

    Of course, all the states that are mis-managed think it's only "fair" that the rest of us bail them out. But it's like the brother-in-law with a gambling problem who comes to you for a loan. It will never be enough for them.

    On the other hand, I think the issue with bailing out the "Bad states" will be the least of our problems. With the sky-high debt the feds are adding, I think the whole country will be headed to the crapper. Think Venezuela on steroids.

  4. #14
    miked, i really like your post..
    so.. looking at your last paragraph.
    anyone/ anticipating this possibility/probability..

    what should folks be doing now?

  5. #15
    I remember riding through Illinois one time and it was the first state I had ever seen regular consistent signs telling you a hole was in the road.

    Was visiting my grandparents that were up that way. I told my grandpa- "with the time and money it took to put up two (one on each side) permanent metal signs telling you a hole is in the road, why didn't they just fix the pothole?"

    He laughed and said "Illinois has been out of money a long time now." I can't remember if he used the used "bankrupt" or not. This was mid 90's ish time period.

    Might want to google what other states went through when they went bankrupt. Then plan for 2X worse.

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  6. #16
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    I am definitely concerned about the massive amount of debt we're accruing! We're paying our house off this year, which will put a dent in the 401K but will also reduce our monthly expenses significantly. With both of us being retired, that's an important consideration. I anticipate rising prices but I'm hopeful that a great deal of manufacturing will return to the US and I'll take made in America over made in China anyday.

    For now, we're trying to conserve cash and since everything's closed, it's not that hard. We're set up well here: low utilities, low taxes, low insurance. As long as this state stays on the conservative end, we should be fine. Elect a liberal govt in FL and all bets are off. Elect a liberal president and the whole country is in for a rough ride!

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