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An Economy Bigger than Russia, Brazil, Canada, India or Spain Is About to Default
George Washington Blog
Friday, July 3, 2009
An economy bigger than Russia, Brazil, Canada, India or Spain is in imminent risk of defaulting on its debts.
Which nation am I talking about?
Not a country . . . but the state of California.
California’s GDP was around $1.812 trillion in 2007.
According to the International Monetary Fund, that is bigger than the 2008 GDP of every country in the world except the US, Japan, China, Germany, France, UK and Italy.
(ARTICLE CONTINUES BELOW)
Given that California has more people than any other state in the US, and some of the largest agricultural, manufacturing, high-tech and defense sectors in the nation, you would think that helping California would be important.
And yet – instead of helping California – the federal government is giving aid to Goldman Sachs, JP Morgan and the other financial giants who helped to cause the financial crisis, and to Israel and other foreign countries.
Does that make any sense?
Note: Depending on which source is cited (CIA World Factbook, World Bank, or IMF), California ranks somewhere between 7th and 10th in world GDP.
Technically, California’s economic measure is not GDP, as that is a national measure. The correct term is “Gross State Product”.
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70 Responses to “An Economy Bigger than Russia, Brazil, Canada, India or Spain Is About to Default”
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July 3rd, 2009 at 4:36 am
YES
UK`S BEEN DOING IT FOR YEARS!!!!
DON’T MATTER REALLY WERE ALL GETTING SWINE FLU !
MARK OF THE BEAST Reply:
July 3rd, 2009 at 5:25 am
SWINE FLU IS A FALSE FLAG TO RUN A PRACTICE DRILL ON MARSHALL LAW.
plague of doom, bwhahaha Reply:
July 3rd, 2009 at 8:56 am
I think the first run was a false flag that didn’t work so well. I have a feeling
that come this fall it’s the real deal.After a summer of barium, we should be ready.
Wouldn’t it be great if everyone in the country stocked up on MMS and Silver Solution and blew the flu off. The Global Elite would be mental!! I know I’m gonna start getting my supply’s.
danny2 Reply:
July 3rd, 2009 at 10:15 am
its martial not MARSHALL, Marshall is a name and marshal is a billet, get it right.
MARK OF THE BEAST Reply:
July 3rd, 2009 at 2:18 pm
I SPELL IT MARSHALL TO KEEP THE NARROW MINDED AWAY.
Aidan Monaghan Reply:
July 3rd, 2009 at 5:26 am
High profile leaders of the Patriot movement (those who can generate wide support) now need to proceed in an organized way against the manufactured and manipultated takeover of the nation.
Much is always done to raise awareness, yet nothing is done to transform this awareness into resistance.
used to be proud brit Reply:
July 3rd, 2009 at 5:55 am
yes Marshall law is just one of the things they are doing to get ready for everyone to kick off
swine flu might come to something or not not sure yet.
Or there maybe more flues or diseases
I think there trying to make us complacent about things so when something does come come they can maximize deaths.
I don’t know who (they) are illuminate,other,running things ,but somebody is?
this i don’t think anyone can say 100%
All i know is it must be “as if by diseases” as I quote from there book.
Anybody that really knows what’s going on would know that phrase
Uncle Sam Reply:
July 3rd, 2009 at 8:31 am
It is MARTIAL, goddammit. You know like MILITARY!
You guys must work for Time Magazine!
danny2 Reply:
July 3rd, 2009 at 10:16 am
these idiots must be thinking of the Marshall plan.
MARK OF THE BEAST Reply:
July 3rd, 2009 at 2:19 pm
I GOT YOU UNCLE SAM, MARSHALL. IS THAT BETTER?
PD Reply:
July 4th, 2009 at 1:26 pm
Yes, it’s Martial,
what a MORAN!
John Reply:
July 3rd, 2009 at 12:44 pm
I used to live nextdoor to a guy called Marshall Law, quite a nice fellow.
jackblack Reply:
July 3rd, 2009 at 6:26 pm
….. but he wouldn’t let me go out after 9pm
wildcat Reply:
July 4th, 2009 at 6:36 pm
I keep getting letters addressed to some person called Theo C. Cupier. I think he returned to France
steve G Reply:
July 3rd, 2009 at 10:19 pm
How is any state or c ountry supposed tpo survive if corporations don’t pay their taxes.
Harpers Index over ten years ago said in a newspaper article that 60% percent of major international corporations based in America paid less than 2% in taxes on their gross profits. The other 40% paid absolutley nothing. It stated that Pepsi Cola and its 1000+ subsidiaries hadn’t paid any federal taxes in over seven years. This was roughly ten years ago.
The same article also stated that At the end of WW2, at the height of US power, the America govt. received 50% of its taxes from major corporations. At the time of this article that figure had dropped below 4%. We have gone from corporations funding 50% to 4%. we are talking about a group of small powerful individuals who control everything about our lives and how we live, and practically what we know or even believe. And you can bet your starving malnourished hiney that this fraud includes the banks that claim to care so much about us and the US economy.
July 3rd, 2009 at 4:41 am
This is another key domino about to be plinked.
Join the Trojan Horse of the Free Press movement and keep this information in front of more people! Help spread this news story and many others like it on Prison Planet to 1000s of other websites instantaneously. Look at the top of the new Prison Planet page when you click this link and participate! >> http://www.pyrabang.com/view.p.....ost_id=624
July 3rd, 2009 at 5:06 am
god(?) bless AMERIKA…HOOAH!
July 3rd, 2009 at 5:14 am
It all makes sense when their plan is to take down America from the inside out.
July 3rd, 2009 at 5:15 am
California is going down… an indication of what is going to happen to the rest of America. Just think, California actually still makes things other than bimbos, porn stars, and movies… and they are still going bust…many states, have no industry, and no agriculture left, so imagine when the cancer in California spreads throughout the rest of the country.
A banker holiday in September might be a perfect time to announce to the world that America cannot, and will not repay any loans, and then allow California to go into receivership of China for repayment of the loans.
But, hey, we’ll have a 13 billion dollar bullet train! Woo hoo.
Kenjo Reply:
July 3rd, 2009 at 11:22 am
California is in such a mess because of their liberal “entitlement” programs. They just have to live within their means like the rest of us not like the federal government.
Madman Reply:
July 3rd, 2009 at 5:53 pm
True, but every state in the red, has the same policies… and they are all going down, we cannot support the world, and everyone in it… just as simple as that.
We shouldn’t PRETEND to be able to police them either!
Get the hell out of the war zones, the other countries that don’t want us there. make the countries that DO want us there, PAY US for our military presence, otherwise, get the men and women back home, to their families, and let everyone else fend for themselves.
We aren’t wanted overseas anyway… everyone wishes America would just leave them the hell alone! I say we’d save a huge amount of money, and make friends, if we did so.
wildcat Reply:
July 4th, 2009 at 6:44 pm
Just google search for the keywords “lawsuit, education and California” . The whole education is bombarded by lawsuits from just about every special interest group.
steve G Reply:
July 3rd, 2009 at 10:21 pm
Harpers Index over ten years ago said in a newspaper article that 60% percent of major international corporations based in America paid less than 2% in taxes on their gross profits. The other 40% paid absolutley nothing. It stated that Pepsi Cola and its 1000+ subsidiaries hadn’t paid any federal taxes in over seven years. This was roughly ten years ago.
The same article also stated that At the end of WW2, at the height of US power, the America govt. received 50% of its taxes from major corporations. At the time of this article that figure had dropped below 4%. We have gone from corporations funding 50% to 4%. we are talking about a group of small powerful individuals who control everything about our lives and how we live, and practically what we know or even believe. And you can bet your starving malnourished hiney that this fraud includes the banks that claim to care so much about us and the US economy.
July 3rd, 2009 at 6:27 am
This is a plan to sell the ports and allow offshore drilling of course the banks are going to get a big fat commission. People do crazy things when they are affraid. The mexican drug wars we have been hearing about is really trying to control the unions so the ports in western mexico can be used and products shipped through texas NAFTA baby. A message to calif business and its people “welcome to texas” hope your move goes smothly
danny2 Reply:
July 3rd, 2009 at 10:18 am
thanks for the welcome
July 3rd, 2009 at 6:39 am
DOn’t bailout california. California has huge deficits. If they are bailed out they wont make some much needed cuts in their budgets. And also it would give failed states an advantage voer good credit states because they would have an easier time getting credit because they have a government guarantee. Thus punishing states for having balanced budgets. Let California default and become fiscally viable again.
American Phoenix Reply:
July 3rd, 2009 at 8:55 am
They are not going to balance or make needed cuts in the California budget. We are flying like a lead balloon!!
d Reply:
July 3rd, 2009 at 4:14 pm
Cal might take the rest of the USA down with it. The Fed has no plans to bailout any state. But they bailout all their financial buddies who caused the mess. Criminals rule our world! He who has the gold makes the rules.
This must be part of their plan to destroy the usa and bring in the nwo…it certainly could happen that way!
July 3rd, 2009 at 7:35 am
Obviously it wasn’t that big of an economy if it is about to default.
July 3rd, 2009 at 7:37 am
Nothing that happens in America matters anymore because America cannot be saved. If the country stays in tact it will be amazing but it will never be the republic it began as and was intended to be. The planet now has no true free nation or peoples.
Artyom Reply:
July 3rd, 2009 at 10:15 am
“The planet now has no true free nation or peoples.”
That’s kind of a broad statement there.
pitofdoom Reply:
July 3rd, 2009 at 1:06 pm
But very very true!!
July 3rd, 2009 at 7:41 am
Econo Cal example of things to come
To put it politely, California, has the highest unemployment in the country and it’s also because illegal aliens cannot collect unemployment benefit’s legally so they are not fully counted as unemployed. Well it’s time now to watch that oppressive, corrupt fascistic communist police state and prison industrial complex fall straight down into it’s own foot print one story at a time, painfully slow at first we will hear the twisting metal and busting welds the rivet’s popping and the glass cracking as its foundation built on bull shit fails under its own weight, the horror and blood curdling screams of shock and panic, absolute desperation. The people fleeing running over each other to escape it’s destruction then after the smoke and dust clear’s and when they clear away the financially ruined and the homeless, starving people and the riot torn and burnt city’s, the politicians will blame every one but themselves. because the bureaucracy is totally diseased a conspiracy of greed, power and stupidity and an anti business, anti freedom. anti God mindset, It’s a failed model for the rest of the country to fallow.
The State, county and municipalities are parasitical money whore’s and thieve’s and its unlawful confiscatory tax’s scheme’s. It has the most corrupt court system in the nation, The law enforcement is there only to feed the machine and murder and torture people for sport both in and out of prison,
The police in California as well as the degenerate news media are making sport with the police helicopter’s during car chase’s known as fox and hound sport ,taking pleasure in the misery of others. It’s a special interest, welfare and illegal alien and a gang ridden cesspool that turned California into a cheep labor slave state ghetto. The Holly Wood reprobate dumb down mentality trickled into the schools and our children have been corrupted and(homo)sexualized while they are teaching alien communist special interest idealism’s,
Let the Titanic sink in all it’s glory as the politicians polish the brass as its sinks to the bottom, for it’s only a facade,
California is like an old crack whore who’s teeth are looking like Cap’t Crunch cereal and the other half of her grille is missing and her make up is smeared and half washed off and all the canker sores, needle marks and bruises are showing and the smell her un bathed carcass and the rot is sickening, but the whore still thinks she’s beautiful and wants all the money and to be taken care of so she can feed her habits and spend it on her junky fiends and frivolous activity’s until she’s destitute again.
We can now see California for what it is, and now just wait for the illegal aliens’ cheep labor slave’s and welfare rats turn on their masters when they cut off the cash register. let the prisons empty out and the looting and raping will Begin. Americans are coming out of the political swamp covered head to toe with Government leaches and parasites sucking and sucking while injecting their poisons, until we are drained and the maggots and the dogs finish off our existence. It’s time to wake up and wipe off the word slave from your fore heads.
steve G Reply:
July 3rd, 2009 at 10:23 pm
How is any state or c ountry supposed tpo survive if corporations don’t pay their taxes.
Harpers Index over ten years ago said in a newspaper article that 60% percent of major international corporations based in America paid less than 2% in taxes on their gross profits. The other 40% paid absolutley nothing. It stated that Pepsi Cola and its 1000+ subsidiaries hadn’t paid any federal taxes in over seven years. This was roughly ten years ago.
The same article also stated that At the end of WW2, at the height of US power, the America govt. received 50% of its taxes from major corporations. At the time of this article that figure had dropped below 4%. We have gone from corporations funding 50% to 4%. we are talking about a group of small powerful individuals who control everything about our lives and how we live, and practically what we know or even believe. And you can bet your starving malnourished hiney that this fraud includes the banks that claim to care so much about us and the US economy.
July 3rd, 2009 at 7:47 am
Psychic spies from China
Try to steal your mind’s elation
Little girls from Sweden
Dream of silver screen quotations
And if you want these kind of dreams
It’s Californication
It’s the edge of the world
And all of western civilization
The sun may rise in the East
At least it settles in the final location
It’s understood that Hollywood
sells Californication
Pay your surgeon very well
To break the spell of aging
Celebrity skin is this your chin
Or is that war your waging
First born unicorn
Hard core soft porn
Dream of Californication
Dream of Californication
Marry me girl be my fairy to the world
Be my very own constellation
A teenage bride with a baby inside
Getting high on information
And buy me a star on the boulevard
It’s Californication
Space may be the final frontier
But it’s made in a Hollywood basement
Cobain can you hear the spheres
Singing songs off station to station
And Alderon’s not far away
It’s Californication
Born and raised by those who praise
Control of population everybody’s been there
and
I don’t mean on vacation
First born unicorn
Hard core soft porn
Dream of Californication
Dream of Californication
Destruction leads to a very rough road
But it also breeds creation
And earthquakes are to a girl’s guitar
They’re just another good vibration
And tidal waves couldn’t save the world
From Californication
Pay your surgeon very well
To break the spell of aging
Sicker than the rest
There is no test
But this is what you’re craving
First born unicorn
Hard core soft porn
Dream of Californication
Dream of Californication
John Reply:
July 3rd, 2009 at 12:48 pm
I laughed when I first read this, but it’s true. The world will undergo this kind of “Californication”, this is the first domino.
warren buffett Reply:
July 3rd, 2009 at 2:51 pm
Chili Peppers rock Man!!
July 3rd, 2009 at 7:51 am
This will cause many to flee California and leave the real estate market in even dire straits.
Uncle Sam Reply:
July 3rd, 2009 at 8:32 am
Only if they try to fuck with Prop 13, then the population of homeowners will jet to Nevada!
July 3rd, 2009 at 9:05 am
Its being killed on purpose! Learn more about the truth at http://www.thegrandawakening.com/index.html
July 3rd, 2009 at 9:08 am
MAYBE IF CALIFORNIA WOULD LIVE WITHIN ITS BUDGET THEY WOULD NOT NEED
A BAILOUT CA HAS NOT CURBED ITS SPENDING IN OVER 40 YRS.
RON PAUL ONCE SAID LOWERING TAXES WILL DO NOTHING FOR AN ECONOMY
BUT CUTTING SPENDING WILL
July 3rd, 2009 at 10:06 am
Check out this video at my YouTube channel
Obama’s Plan For America: Disrupt, Dismantle & Destroy
http://www.youtube.com/watch?v=r0DqY9iotZw&feature=channel_page
July 3rd, 2009 at 10:07 am
Hope you find the time to watch this video. Click on the link and leave a comment after watching.
Fourth Estate Gives Left Cover To The Fourth Reich
http://www.youtube.com/watch?v.....annel_page
July 3rd, 2009 at 11:03 am
Arnie has no friends in high government places or he is part of the downfall of America. Take your pick. California should succeed along with all the states from DC and rebuild this country.
July 3rd, 2009 at 11:43 am
The US government is held hostage at the moment. Don’t look for them to save anyone but the Banksters pointing the gun… Without govenment interference, California may just save itself… Now only if they’d wise up and consider secession, become a nation state, and really set a precident.
July 3rd, 2009 at 12:19 pm
California is where it will all start ~
July 3rd, 2009 at 12:24 pm
At this moment the heart of the NWO is USA and UK. If USA is collapsing then that means the NWO is collapsing..
You guys need to straighten your nation out, no one else is going to do it for you..
July 3rd, 2009 at 1:11 pm
California’s gone, dig deeper folks, ruin’s heading North, South, East & West!!
July 3rd, 2009 at 1:51 pm
You cannot have a war against an entity that practices violence as a way of conducting business,the problem here is not “violence” in the classic sense,it is a form of economic warfare,perfected by corporations and banks.Government forces use the military to collect debts by taking countries and stealing resources.Americans are just too stupid to see it for what it is.
The corporations and banks own the US,why do you think they get all the money to stay afloat,while the little people suffer?.
robert Reply:
July 3rd, 2009 at 1:52 pm
I meant government forces are used by corporations and banks to collect debts,sorry
July 3rd, 2009 at 6:01 pm
The best song for WE the people, and California at a time like this…
http://www.youtube.com/watch?v=zdqpCVntcGs
Redemption Denied!
Madman Reply:
July 3rd, 2009 at 6:05 pm
Rock bottom is a sweet f*ing dream, a myth made up by a liar…
July 3rd, 2009 at 6:30 pm
I am getting tired of this. Marshall is a man’s name. Martial is an adjective for military as in martial law or military law. You can get a clue of which to use because martial arts is not spelled like Marshall. But I fear my mission is fruitless as the internet posters will continue to use Marshall for martial.
Steve Williams Reply:
July 4th, 2009 at 10:43 am
And using “your” instead of “you’re”. And using there, their, they’re as though they were inter-changeable. Etc.
It seems overly nitpicky, but literacy is one of the very greatest and most powerful inventions humanity has created so far. It enables the transmission of information from point A to point B. Sloppy information transmission will yield sloppy results. True, english has a pretty goofy system of spelling due to all the various systems of input it had. But it’s not that hard to figure out and use. At least we’re luckier than the chinese who have to learn a jillion different characters to be literate. We only have 26 characters to learn how to use.
Getting somewhat back onto article topic…
Ah-nuld made a big whoop-dee-doo about how he would get California back on track after the “terrible mess” the previous governor supposedly had made. I still wonder what things would be like if Gary Coleman had won the election instead.
Madman Reply:
July 4th, 2009 at 11:12 am
Reminds me of that Brian Regan skit, Hooked on Phonics worked for me…
http://www.youtube.com/watch?v=d-3rsaO4PKE
Steve Williams Reply:
July 4th, 2009 at 1:54 pm
Bwahahaha! Something like that. People have become so dumb, they can’t even use their own language. I can make allowances for those who learned english as another language, but no allowances allowed for native speakers.
LUCY LIB Reply:
July 11th, 2009 at 6:32 am
Steve I take it you are critizing the language of Oakland, CA, Eubonics. I knew i could count on this web site for more hatred and discrimatiion of the oprressed minorities. I think you should medidate, take some medicinal CA erbs and rethink. Be tolerant or our new evolving diverse popluation. All of you need to hit the reset button and accept the NWO and a diverse public. Sensitivity is the key here. I am trying to help you all.
CA GIRL
MARK OF THE BEAST Reply:
July 4th, 2009 at 3:42 pm
AMERICA IS ILLITERATE. THE PUBLIC SCHOOL SYSTEM HAS BEEN SYSTEMATICALLY DESTROYED OVER THE LAST TWO DECADES. HOW ELSE DO YOU EXPLAIN THE IDIOT OBAMA BEING ELECTED WITH A SLOGAN OF “CHANGE”. THEM SAME SLOGAN THAT FIDEL CASTRO USED TO OVERTHROW BABTISRO. WHAT A F–KING JOKE. I HAVE BEEN ISOLATED IN A CONSERVATIVE UPSCALE TN SUBURB FOR 20 YEARS. I DID TRAVEL AROUNE FL, CA, MO, AND A FEW INTERNATIONAL LOCATIONS. I WAS SHOCKED TO SEE THE IGNORANCE OF TODAY’S YOUTH. THEY CANT MAKE CHANGE, ASK SOMEONE WHERE A ITEM IS IN THE STORE AND THEY REPLY, “OVER BY THE KITCHEN SECTION” OR ” ON THE BACK WALL”. I WOULD EXPLAIN THAT I HAD NEVER BEEN IN THIS STORE AND I DO NOT QUITE UNERSTAND WHAT OVERTHERE MEANS. i JUST GET A DUMB LOOK IN REPLY. BACK TO CA, THE 8TH LARGEST ECONOMY FORGET ABOUT IT !!! OBAMA DOESNT WANT COMPETITION FROM ARNE IF THERE IS AN ACUTUAL PREDISDENTIAL ELECTIONN IN 2012 (UNLIKELY) AND SECONDLY THE PEOPLE OF CA JUST DO NOT MAKE GOOD SOLDIERS. SOFTIES, WIMPS, WAKOS etc..
MY READ IS THAT CA WILL BE ALLOWED TO GO UNDER. BESIDES THAT HELPS WITH THE RAMP UP OF THE CHIP IMPLANTATION FOR FOOD. DONT BELIEVE IT???? THERE ARE NO SECRETS.. RMV
MARK OF THE BEAST Reply:
July 4th, 2009 at 3:45 pm
YOU DON’T BELIEVE IT??? WELL MATE I PREDICTED THE COLLAPSE OF THE AMERICAN AUTO INDUSTRY IN JULY 08 ON RECORD. THIS IS WAY BEFORE THE CEO OF GM EVEN HAD A CLUE. I HESITATE TO POST THE LIKELY FUTURE. IT MAY BE TOO MUCH FOR YOUR FEEBLE SELF BELIEF SYSTEMS TO STOMACH. MICHAEL KNOWS. THERE ARE NO SECRETS.
RMV
July 3rd, 2009 at 8:05 pm
http://www.thegrandawakening.com/index.html
Incredible…bookmark this one for sure…
July 3rd, 2009 at 11:19 pm
Love the lyrics!
July 4th, 2009 at 3:38 am
The Jewish Crime Network planned, orchestrated, covered up, and benefited from the September 11, 2001 terrorist attacks.
See the evidence here:
http://zioncrimefactory.wordpr.....l-did-911/
MARK OF THE BEAST Reply:
July 4th, 2009 at 3:48 pm
KNOCK IT OFF WITH THE JEWISH CONSPIRACY CRAP. BILDERBERG GROUP IS MADE UP OF THUGS FROM ALL NATIONS AND ETHNIC GROUPS. TRUE THERE ARE MANY PEOPLE IN BANKING OF JEWISH PRACTICE BUT YOU ARE WAY F–KING OFF ON THIS JEWISH CONSPIRACY THING. READ REVELATIONS AGAIN AND AGIAN UNTIL YOU GET IT. ANY QUESTIONS??? TAKE A WALK YOU PUTZ.
RMV
July 4th, 2009 at 8:02 am
GET THE HELL OUT OF CA.SEVERAL TAX FREE STATES WA IS THE ONE I CHOSE AFTER LIVEING IN CA FOR 60 YEARS NO STATE INCOME TAX,
July 4th, 2009 at 11:17 am
Arnold will save California…
Watch this video…he already has a plan for education!
http://www.youtube.com/watch?v=hV8OQuLoaH0
LOL
Madman Reply:
July 4th, 2009 at 11:57 am
If you want to know one of the major contributors to the crash, other than Derivatives, Housing Collapse, etc… look at this video on outsourcing.
http://www.youtube.com/watch?v=pSYiCLloShE
Madman Reply:
July 4th, 2009 at 12:02 pm
http://www.youtube.com/watch?v=Iu-it9qy_q8
People in California… MUST LEARN, according to Obama… check out that guys post… they are planning on a BLACKOUT.
Watch the video. He suggest taking your money out of the banks, and stocking up on food…
July 4th, 2009 at 3:21 pm
They are spending like drunken sailors,
let those mother f…. collapse
July 4th, 2009 at 5:16 pm
I got cold beer.
July 4th, 2009 at 7:20 pm
Screw the Liberals and Peoples Republik of Kalifornia.