Nov 14 2009
Federal Government Budget Deficit in October is Three Times the Annual Budget Deficits of the Banana Republic of California.
California has been the poster child of ineffective state government. Bickering politicians, constant spending, and budget deficits that baffle the economic bottom line. But California isn’t alone in this spend more than you earn reality. Last year, California had to patch up $60 billion in budget deficits. A large and historical sum no doubt. Yet [...]
Nov 9 2009
The Balance Sheet Recession: $4.2 Trillion Lost in Residential Real Estate Value. Yet Mortgage Debt Down by $140 Billion.
What we are experiencing is a balance sheet recession. The reality of our current economic funk is highlighted by the growing unemployment rate and the diminishing purchasing power of many Americans. What is going to make this economic crisis drag out like a painful Hollywood divorce is the inability to reconcile the past with our [...]
