Stuff I’m Reading this Morning… 8 Reasons Goldman Sachs Says Buy The Chinese Selloff. (TPC) Sex offenders living under a bridge receiving stimulus money. I’d say that “stimulus” is the least of their problems, yuk yuk yuk. (DailyBeast) Buffett still selling Moody’s. Sucks to be a ratings agency these days. (Bloomberg) Nikki takes us behind…
Deficit
The Reformed Broker Saves California
So the state of California has until the end of July to stave off bankruptcy. They have a projected budget deficit of $24 billion! Governor Arnold Schwarzenegger, who ran for office with the intention of fixing the state’s fiscal woes, has presided over a 40% expansion of government spending. Oopsies! At this juncture, Cali needs…
John Mauldin: An Unpayable Deficit?
John Mauldin‘s latest newsletter, entitled This Way Be Dragons (Thoughts from the Frontline), tackles the big problem that the bulls don’t want to think about yet: How will the $1.2 trillion deficit we’ve got in the oven ever be paid off? While Obama gives lip service to cutting the deficit in half, his actual budget…
