This is not going to end well:
https://www.armstrongeconomics.com/world-news/pension-crisis/calpers-on-the-brink-of-insolvency/
The one above is the main one to read as it goes direct to the point that
CalPERS and the State of California are insolvent and Trump’s new tax
system denies the ability to DEDUCT state income taxes from federal tax
return. Effectively accelerating California’s economic collapse. Gov.
Brown will have to massively raise all forms of taxes to try to prevent
CalPERS bankruptcy which will mean the economy of CA will collapse mainly due to an accelerating exodus as explained in the following two blogs:
https://www.armstrongeconomics.com/qa/california-dreaming-the-great-migration-from-california/
https://www.armstrongeconomics.com/world-news/taxes/california-in-peril/
RE: Global Contagion of Bank Failures Coming…