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THOUGHT FOR THE DAY!

"There is no free lunch for the creature comforts delivered by the corporation. The ravaging of nature, the erosion of economic security, the destabilization of the family, the commercialization of all human relationships, the corruption of democracy, and the dissipation of spiritual meaning in the face of rampant materialism - these are all part of the cost of the corporate system as we know it. And they add up to a very high price to pay for the bounty of the great American shopping mall."-- Charles Derber, Corporation Nation, p178

 

Is It Time to Bail Out of the US?

California State Controller John Chiang announced on January 26 that California’s bills exceed its tax revenues and credit line and that the state is going to print its own money known as IOUs. The template is already designed.

Instead of receiving their state tax refunds in dollars, California residents will receive IOUs. Student aid and payments to disabled and needy will also come in the form of IOUs. California is negotiating with banks to get them to accept the IOUs as deposits.

California is often identified as the world’s eighth largest economy, and it is broke.

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Submitted by poorrichard on Thu, 01/29/2009 - 05:05
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Comments

1

IOU's

lvillas

Hey, that's it.....I'll just give my grocery store, and the electric company, and the gas company, and the phone company and the mortgage company an IOU!

01/29/2009 - 07:45
2

Hmmm, A foreign conquest, you say.

StingRay

Paul Craig Roberts: "The financial damage inflicted on Americans by their own government is as great as would be expected from foreign conquest."

01/29/2009 - 06:01