In case you haven’t seen, yesterday California declared a fiscal state of emergency. Governor Arnold Schwarzenegger aka… The Goverator, has stated that he will not sign any legislation not related to the budget until the crisis is resolved.
In the video, Schwarzenegger complains that the California politicians are busy discussing important topics such as “Cow Tails” instead of addressing the situation. If you haven’t already lost your faith in American politicians take a gander at the video.
The state will begin printing IOU’s this weekend and will be distributing them out to individuals in lieu of actual income tax return checks. If this can happen to our largest state, is a federal government crisis not far behind?
Here’s a clip of Bill Gross talking about this mornings worse than expect jobs data. He also talks of a generational shift in the way American’s handle money (ie: aggressive spending to conservative saving). According to Gross this will probably lead to stagnate growth for years to come.
Here’s a pretty good video of Warren Buffett talking about the economy. He says that he hasn’t been seeing any signs of economic recovery yet. He also talks about the prospects of inflation in the future and whether stocks will outperform fixed income investments.
In case you haven’t been paying attention, all three major indexes are in positive territory for 2009. It’s nothing to get extremely excited about, but it certainly feels better than those dark days of early March!
