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Japan wants to loan California $40 billion to begin the building of the High Speed Rail choo-choo train.
In fact this must be a joke or just plain stupidity. There is no way we can pay back the $80 billion (principal and interest), that loan would not cover one fourth of the cost of building the train.
The documents showing ridership and operating cost are now admitted to be big fat lies.
This is a fraud created by unions who wanted jobs and corporations that wanted contracts, regardless of the inability of this system to break eveb--hence taxpayers will subsidize, just like we give AMTRAK billions to keep it moving.
"The state-owned Japan Bank for International Cooperation is prepared to lend funds, Japans Transport Minister Seiji Maehara told reporters today after meeting with California Governor Arnold Schwarzenegger. He declined to comment on the size of the possible loan.
Schwarzenegger is tomorrow set to ride on a Japanese bullet train able to hit speeds of 275 kmph (171 mph) as part of an Asia tour that includes looking for contractors and funds to help with the 432 miles Los Angeles-San Francisco railway. Japan is offering a loan to California, which is wrestling with a $19.1 billion deficit, to help exporters compete with Chinese, Korean and European trainmakers."
If Arnold rode an elephant, would he buy a circus?
This will kill what is left of a chance to end the California Great Depression.
Choo-choo, nice ride Charlie Brown--good and plenty--plenty good for the special interest and bad for the rest of us.
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In fact this must be a joke or just plain stupidity. There is no way we can pay back the $80 billion (principal and interest), that loan would not cover one fourth of the cost of building the train.
The documents showing ridership and operating cost are now admitted to be big fat lies.
This is a fraud created by unions who wanted jobs and corporations that wanted contracts, regardless of the inability of this system to break eveb--hence taxpayers will subsidize, just like we give AMTRAK billions to keep it moving.
"The state-owned Japan Bank for International Cooperation is prepared to lend funds, Japans Transport Minister Seiji Maehara told reporters today after meeting with California Governor Arnold Schwarzenegger. He declined to comment on the size of the possible loan.
Schwarzenegger is tomorrow set to ride on a Japanese bullet train able to hit speeds of 275 kmph (171 mph) as part of an Asia tour that includes looking for contractors and funds to help with the 432 miles Los Angeles-San Francisco railway. Japan is offering a loan to California, which is wrestling with a $19.1 billion deficit, to help exporters compete with Chinese, Korean and European trainmakers."
If Arnold rode an elephant, would he buy a circus?
This will kill what is left of a chance to end the California Great Depression.
Choo-choo, nice ride Charlie Brown--good and plenty--plenty good for the special interest and bad for the rest of us.
More...