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0 California on ‘verge of system failure’ News to Gold Prices — Tags:  
“People think we’re becoming a Third World country,” said Ms. Sims, 55. “They don’t understand. ”It’s a story that’s being repeated all across California – and throughout the United States – as cash-strapped state and local governments grapple with collapsed tax revenues and swelling budget gaps. Mass layoffs, slashed health and welfare services, closed parks, crumbling superhighways and ever-larger public school class sizes are all part of the new normal.

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