Alstrydomous 9.09......It is NOT much Time!!!!!
Asset values imploding
Cities and States running out of money
Tax receipts evaporating
Shopping Centers turning into Ghost Malls
Neighborhoods turning into Ghost Towns
Food Banks desperate for Food
And now this.......
With the state poised to issue billions in IOUs in lieu of cash this week, California's budget crisis could create serious headaches for some private vendors and local governments.
The deciding factor could be California's banks. If they're willing to honor the registered warrants, or IOUs, then the problem becomes manageable for the scores of small businesses and local governments that rely on dollars flowing from Sacramento. They'll be able to cash the IOUs.
But if the banks resist, billions in state payments will be effectively delayed – putting renewed stress on a state and region already suffering from a deep recession. One Rocklin company, a temp firm that relies heavily on state business, has already laid off five workers in anticipation of a cash squeeze.
You think it might be time to call your elected official?????