greece starts to undermine the euro, page-4

Hello, is anyone reading what hobo-jo's chart actually says? Its a comparison of GDP, thats all. That doesnt tell you anything about state debt levels. What you need to see is - at a minimum - debt-to-income ratio for the state. And debt-to-GDP ratio for the state. And private debt-to-GDP ratio.

Furthermore, why would any poster here care if California encounters serious trouble before or after Greece? CT is putting forward a view that Euro-centric problems are the beginning of another round of global financial instability. (I concur with that view.)

For the record, California already has encountered serious difficulty. The issuance of its own IOU's last year - and the fair chance it does it again this year - is ample evidence it has already passed the economic equivalent of the Event Horizon.

Hummph - grumpy!