Jew World Order

“It was a time of excess, of grandiose dreams and gross ambition. We were
super extended financially and then the economy tanked. There was nothing in
reserve for a rainy day.

“We’re like a homeowner who took out second and third mortgages and then
everything crashed. We will be cash insolvent by the end of this month. We
cannot pay the bills.”

Stockton, which sits in California’s agricultural Central Valley 80 miles from
San Francisco, began life as a transport hub for the gold rush 160 years
ago.

It was once called Mudville and latterly became known for its Asparagus
Festival and is little visited by tourists.

But at the height of the economic boom, 3,000 new homes a year were being
built in Stockton and its population grew by 20 per cent in a decade as it
sought to join the San Franciso commuter belt.

In addition to its still gleaming $80 million glass fronted concert arena, a
5,000-seater ballpark also went up for the local minor league baseball team,
and a picturesque marina was built.

A $42 million superyacht, the Casino Royale, currently dominates the marina.
It shimmers like a mirage in the blistering California sun, while in its
shadow a homeless man pushes a supermarket trolley slowly by.

During its glory days the city also paid $2 million to a renowned California
chef to open a bistro in town, which didn’t last long.

Stockton splashed out $35 million on a modern eight storey building which was
to be a new city hall.

Officials never moved in and it was repossessed by the bank a few weeks ago,
along with three of the city’s multi-storey car parks.

At the current crumbling city hall, a banner outside reads: “Stockton –
All America City.” Inside, the tap water is undrinkable and there are
rats.

“That’s the ones that haven’t abandoned the sinking ship,” said
Michael Fitzgerald, a columnist for The Stockton Record.

Due to its massively inflated housing market and soaring debts, Stockton was
hit like a freight train when the recession eventually came.

Its home foreclosure rate was the highest in America, property values dropped
by up to 75 per cent, businesses went under, and unemployment is currently
at 19 per cent.

The council’s revenues from property and sales taxes were decimated by the
downturn. In addition, it had given away sumptuous benefits to city
employees including medical care for life for each public employee and their
spouse.

The “Cadillac” health care plan left them with an estimated
liability of $417 million.

Officials are currently in mediation talks with creditors over $350 million
the city owes bond holders. Those talks end on Monday and, if they fail,
bankruptcy will commence the following day.

Mrs Johnston, a former English teacher, has already wielded the axe heavily,
slashing public sector staffing and pay.

The 425-strong police force has been cut by 25 per cent. The result has been
crime wave with a record 58 homicides last year. Street gang members taunt
the remaining officers by asking them when they are going to get laid off.

“We have cut to the bone,” said the mayor. “There is nothing
left to cut, and we have to maintain public safety. If bankruptcy happens
those things that are needed for the necessities of life will continue. We
will maintain basic services.”

On Stockton’s once proud Main Street, near the repossessed would-be city hall,
business after business is boarded up or empty. The few that remain include
a medical marijuana shop and a thrift store.

Incongruously, a shop that repairs Steinway pianos is also still open. Owner
Marcia Davis, 61, told The Daily Telegraph: “We’ve survived by
reputation and word of mouth, and we’ve made a wonderful life here.”

At a nearby street corner a recovering heroin and crystal meth addict called
Nikki, 35, was less sanguine. She said: “It’s nasty and dirty here.

It’s gone to crap. Just look at the run down buildings.”

Less than a mile from where the superyacht is anchored the morning queue at
Stockton’s food bank starts 90 minutes before opening time. Under a flyover
on an industrial wasteland more than 400 people line up each day for a box
of donated produce.

Denene Howland, 45, who had swallowed her pride to visit the food bank for the
first time, bought a two bedroom house in 2005 for $215,000 with her husband
Ralph, a labourer. The house was foreclosed in 2009.

She said: “We couldn’t make the payments. When we lost it someone then
bought it for $60,000. The realtors had just taken advantage of idiots like
us.

“I still go past the house and that does kind of make me sad. For a while
it was like the gold rush back then, and then people were cutting each
other’s throats. I don’t think President Obama’s really done much. He just
seems to have a lot of parties at the White House.”

Another first time visitor to the food bank, in his wheelchair, was Vietnam
veteran, Ken Hundley, 64, who had suffered four strokes. The former truck
driver lost his home to foreclosure a year ago and is in welfare housing.

Mr Hundley’s eyes welled up as he said: “I’m embarrassed to be here. I
fought for this country and suffered the effects of Agent Orange for decades.”

Near the city dump a mini-skid row has sprung up with tents and cardboard
shelters. More than 400 people, a third of them children, sleep at the
nearby Shelter for the Homeless.

The shelter’s director John Reynolds said: “I’m seeing people that
shouldn’t be here, people that had good jobs like electricians, nurses,
retail managers, people with businesses, people who were living in four or
five bedroom homes.”

As the city awaits the bankruptcy verdict, Mrs Johnston said: “This recession
keeps dragging on and we are still at the bottom. Neil Diamond will not be
coming back.”