Will Governor Schwarzenegger Trigger 55,000 California Foreclosures?
California’s long running budget crisis has now degraded to the point where Governor Arnold Schwarzenegger has ordered a pay reduction to the minimum wage rate of $7.25 an hour for 200,000 state employees.
The California banking industry, perhaps [...]
FDIC Tells Banks California IOU’s Good As Gold
Bank Have Enough Bad Assets
Yesterday, a group of major banks, including Bank of America, Citigroup, JP Morgan and Wells Fargo, said that they would stop accepting California IOU’s. The State of California, virtually out of cash, has [...]
The Economic Collapse Continues - Logical Minds See No Signs Of A Bottom
No Signs Of A Bottom
The market continues its massive sell off in a resounding vote of no confidence on the measures being taken to reverse the economy’s downward spiral. A contrary investor buying the dips over the [...]
California & Congress Implement Discredited Depression Era Policies
Irony Everywhere
Supposedly we learned certain lessons from the depression of the 1930’s. Experts agree that two of the worst policy decisions during the depression were to raise taxes and erect trade barriers.
Knowing that something is wrong and [...]
