(Source: BigHollywood) Millions of fans from around the globe gathered along Sunset Boulevard to pay final respects to California today, as a slow moving funeral procession transported the eccentric superstar state’s remains to its final resting place in a Winchell’s Donuts dumpster in Van Nuys. The self-proclaimed ‘King of Pop Culture’ died last week at 160, in what coroners ruled an accidental case of financial autoerotic asphyxiation. The death sent shock waves across the world and sparked an outpouring of grief by rabid fans.

“I don’t care what the tabloids and the Wall Street Journal say,” said a weeping Illinois. “I still love you, Cali!”

The 640-mile long funeral parade route was lined with flowers, candles, teddy bears, and IOUs from millions of mourners and debtors who made the somber journey to watch the passing of the state that had once ruled the box office and industrial charts. Among them were current chart-toppers who cited California as a key influence.

“If it wasn’t for California, I wouldn’t be where I am today,” said Arizona of Westside 3, the popular Sunbelt trio who recently benefited from the late state’s generous gift of fleeing taxpayers and businesses. As a tribute to their mentor, Arizona vowed the group would start spending money “like crack-addled hip hop stars.”

[Surprisingly, even the Financial Times has a sense of humor]

(Source: FinancialTimes.com) The scale of California’s debt crisis – the state is having to issue IOUs as it grapples with a $26bn deficit – has raised some uncomfortable questions for the US.

Is California too big to fail? If so, might the federal government be forced to nationalise it? There are those who believe California should be allowed to fail as a warning to the others. Many ordinary voters are unhappy at bailing out wealthy Californians who enjoyed a luxury lifestyle of sun and sand while their state was sinking.

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