Yeah... Obama losing CA, NY and MA?! The circumstances that bring that about are not just far-fetched... but frankly fricking terrifying.
then you haven't been paying attention to the news: Iran's Al Qods Brigades are positioned to attack oil installations in Kuwait and Saudi Arabia, as well as shut down the Striat of Hormuz, if conflict breaks out (and Obama probably isn't the type to launch a preemptive full-fledge strike to take out that Iranian capability).
Now, chances of conflict between Iran and Israel (or the US) in 2012 may only be 10-25%...but 10-25% is NOT far fetched.
I think there is a real question whether it is demographically possible for a Democrat to lose Massachusetts. Increasingly the state is dominated by minorities, and latte whites, and neither group swings at all. Latte whites in places like Brookline/Lexington blame the GOP for the current economic problems, get their news from MSNBC, and would still blame the Tea Party and GOP in the vent of all of those events occurring. You are dealing with the Democratic version of those southern exurban voters.
Its also unclear if the minority/high-income white coalition in New York or California is capable of collapse, given the unwillingness of minorities to vote Republican, and the substantial insulation those at the top have from the economy.
Basically unless the GOP is making massive inroads in culturally left-wing voters of the type who believe Gay Marriage = Civil Rights movement and who support the Occupy Movement, or it starts winning over blacks/Puarto Ricans its not winning those states under any circumstances.