With California supposedly the 8th largest economy in the WORLD, it's downfall would cause fast & serious
repercussions. If California does hand out IOUs to state workers, police, firemen, and other empoyees, THAT becomes an Every man for themselves mentality. This economy balances on the HOPE that the money in your pocket has value. When that hope disappears, the collapse starts and just feeds on itself. Alot of old Science Fiction books are about to be moved into the history section of the library.