More I.O.U.'s Coming
California is in serious financial crisis. Last year they didn't have the money to give income tax refunds...so instead taxpayers received I.O.U.'s from the Golden State.
State Treasurer Bill Lockyer warned Saturday that California could face the unwelcome prospect of issuing IOUs in April or May if legislators and Gov. Jerry Brown do not act quickly to solve the state's fiscal problems.
The severity of California’s yawning budget gap, estimated at $25.4 billion, is widely known. But Lockyer’s comments, at a conference at UC Berkeley, were the first to suggest that the state government is staring at a more immediate cash crisis that could require IOUs.
The state last issued billions of dollars in the worthless scrip in 2009, causing a cascade of headlines around the world about the California’s fiscal dysfunction.
Lockyer, a Democrat, offered a clear prescription to avoid repeating that fiscal calamity: "Get a budget adopted that's honest, and make the cuts as soon as possible."
Brown, who took office less than three weeks ago, has called on the Legislature to enact by March 1 an austere spending plan that includes deep cutbacks to welfare, healthcare for the poor and the state's universities, among other programs.
"Get it done, the sooner the better," Lockyer said Saturday during his appearance at a conference sponsored by the Institute of Governmental Studies. If not, he said, "We will run out of money to pay the bills."
See it here; http://latimesblogs.latimes.com/california-politics/2011/01/california-treasurer-ious-could-loom-in-april-may.html
Get ready Mr. Obama...I have a feeling that California, New York, New Jersey and maybe Nevada, will soon be asking for the Federal Government to give them some newly printed money. Or they may ask you to see if the U.S. Treasury can sell some more bonds to some more foreign countries....so you can then give the money to the bankrupt states.
If that happens then ALL of us can be on the hook for the states who were the most irresponsible....and who came up with the most unsustainable programs.
Remember, if California was its own country it would have the 7th largest economy in the world...so it will be no small deal if they come crashing down.
posted by dennis at
9:52 PM
4 Comments:
Hi Dennis,
Hope things have been well for you. I have been doing a great deal of studying.
I believe that the following two items are related.
TEHRAN (FNA)-Iran to Send Fleet of Warships to Red Sea, Mediterranean Sea in the near future.
http://english.farsnews.net/newstext.php?nn=8911031140
Haaretz - Two more Gaza-bound flotillas to set sail, first in April 2011.
http://www.haaretz.com/print-edition/news/two-more-gaza-bound-flotillas-to-set-sail-in-spring-1.338780
I speculate that April- May 2011 would be about the last months for the dominoes to fall within this Metonic window Rosh Hashanah 2011 for the beginning of the 7 year covenant. The next window will be Rosh Hashanah 2014. There are a great deal of Military logistics that would need to transpire for Ezekiel’s war. I speculate that this would take several months much like the buildup of the last gulf war.
An additional related item, Iran has stated that if war breaks out they will close the straits of Hormuz. This would cut off the worlds oil supply and push us over the brink economically.
Peace,
Tom
Hi Tom,
regarding the 7 year covenant, remember that won't be signed until after the rapture. For this reason, the 2014 date for the 7 year covenant might be more in focus for you watchers who understand Metonic cycles. I just don't see how it would be physically possible, even if the rapture happened today, that the world would recover from the chaos fast enough to seat the Antichrist in power and have him put together a peace agreement all by April-May of this year.
Your Hormuz statements are right on. We have recongnized that tiny choke hold of 40% of the world's oil supply for quite some time...and realize that $6/gallon gasoline (or worse) would be a serious squasher of our economy.
Blessings. Please keep me posted on what you have been studying. I appreciate your input.
Hi Dennis,
Agreed, the Rapture is before the covenant, which in this window would be Sundown September 28, 2011. For this to happen in this window the deadline for Rapture, Isaiah 17, Ezekiel’s war, emergence of the antichrist all has to happen in very short order. Based on the Hadiths I speculate that the emergence of the AntiChrist is after Ezekiel’s war. According to Matt 24: 38-39 “For in the days before the flood, people were eating and drinking, marrying and giving in marriage, up to the day Noah entered the ark; and they were unaware until the flood came and swept them all away, so will be the coming of the Son of Man.” I take this to mean that things are calm before Christ’s return. Because of this am leaning to the thought that this would mean the rapture is before the start of full-fledged hostilities.
On another note in 1973 gas went up 4 fold in a couple of weeks when oil was restricted by OPEC %25. We are far more dependent today and I guess that you could see gas over $10-12 gal. That would rock our economy in ways we can’t even begin to understand.
Peace,
Tom
Hi Tom,
I agree with you understanding that things in the world will be "as usual" when the rapture happens. More evidence that it WON'T be happening during the Tribulation....as mid and post tribbers subscribe to.
I personally will not be surprised if the trumpet blows at any time.
I also agree on your $10+ gasoline theory. If we saw it once....it WILL happen again. We were just talking about this last night at Bible study. One guy in our group works on the Alaska oil pipeline and was talking about the chaotic conversations that were happening up there when they recently had to shut the pipe down for a few days. The supply seems to be that tight.
The triggers to put this whole Tribulation in motion are there...that's for sure.
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