California About to Crumble?

We have all been watching California for some time now, wondering aloud if it isn't the canary in the coal mine (a warning) for what may be coming for the rest of us....when fiscal insanity finally crosses the path of logic and sustainability...what will be the outcome? I am guessing it will be civil unrest.

Yesterday there was an article in the Wall Street Journal that confirms that we aren't the only ones who believe California may be the test case for what happens when a state goes spend-crazy.

Listen up, California. The other 48 states—your cousin New York excluded—are sick of your bratty arrogance. You're the Lindsay Lohan of states: a prima donna who once showed some talent but is now too wasted to do anything with it.

After enjoying ephemeral highs and spending binges, you suffer crashes that culminate in brief, unsuccessful stints in rehab. This cycle repeats itself every five to 10 years, as the rest of the country looks on with a mixture of horror and amusement. We'd feel sorry for you if you didn't constantly flip us the bird.

Instead, we're making bets on how long it will be before your next meltdown. Oh, wait—you're already melting down.

You've racked up nearly $70 billion in general obligation debt, and that doesn't include your $500 billion unfunded pension liability. Your own analysts predict you'll face a hole of at least $80 billion over the next four years.

Your government's run by a brothel of environmentalists, lawyers, public-sector unions and legislative bums. When they're not taxing or spending, they're creating regulations and commissions like the Board of Barbering and Cosmetology and the California Blueberry Commission. Many businesses would leave if it weren't for your sunny climate.

The author then ends with this;

We've tried to help you, California. Some spent millions on campaigns to entice you to change your reckless behavior. And you told them to kick rocks.

So here's our final warning: When you inevitably crash and burn, don't count on us to bail you out.

See it here; http://online.wsj.com/article/SB10001424052748703506904575592612400443370.html

So again, we ask the question; what do you think the outcome will be when you take millions of people in Oakland, Los Angeles and Sacramento who have been reliant on California handouts of welfare, food and housing programs...and send them an IOU that they can't spend instead?

Think back 15 years ago when Rodney King (who was a drunk criminal) was beat by white officers...and the riots that ensued in Los Angeles. It's possible that that event was just a foretaste of what is to come.