The more likely scenario, and hopeful scenario, is that California defaults on a bond payment.
California then is effectively broke. Once broke, borrowing money will be cost prohibitive if money can be even be borrowed. Once that occurs, California will need to live with the cash in it’s pocket.
Rosey predictions, annual taxes all become irrelevant as the monthly payroll and vendor payments need to be met, just like any other cash strap California business with the monthly cash flow from activities.
