California Budget: California has Run out of Money, Starting Monday. $42 billion deficit and Economic Problems and Future Issues. Investment Forecast for the State.
The California housing and finance driven economy is coming to a destructive end. On Monday February 2nd 2009, California’s chief accountant will start delaying payments totaling approximately $4 billion. In this pot of money, the state will be postponing income tax-refunds, college grants, and welfare checks. Now we really see the pickle of this budget […]
Cram Downs: A Bad Bank and Cram Downs are Diametrically Opposed Ideas.
While the market is intrigued by the nearly $1 trillion fiscal stimulus plan, a mortgage cram down bill has already passed the House. It is amazing that it has taken this long to even get this thing going if the true premise of the politicians and policy makers was to save homeowners from losing their […]
Federal Reserve and U.S. Treasury Fleece the American Public: Total Market Cap of TARP Participants is $336 Billion, We Can Buy Them Out Completely: Enough with TARP and Nationalize NOW.
As we now are realizing in growing agony, the first $350 billion in TARP funds were poorly managed and did very little to improve the economic conditions of this country. In fact, I have argued that the U.S. Treasury and Federal Reserve through various market actions have taken actions to make saving money a very […]
Orange County Jobs: The Real OC, Companies Cutting Jobs Since the Recession Started in California.
Southern California’s most expensive area, Orange County is not immune from the current economic downturn. The employment situation is dire across the state with the current unemployment rate spiking to 9.3% in December from a rate of 8.4% in November. The speed of job losses is increasing in a state with a deeply troubled housing […]