And what about California? This week’s Economist magazine gives us a new measure for California’ budget deficit — $26 billion, up from the $24 billion last reported in this space. A widely published photo shows Arnold Schwarzenegger smoking a cigar…
July 14th, 2009 | Bill Bonner | 0 comments | ContinuedAll Posts Tagged With: "Arnold Schwarzenegger"
People Flee Back to the U.S. Dollar
But what you can’t count on is how much that cash will really be worth. And there lies the great trap for the lumpen investoriat. The lumpen, as you know, get their investment ideas from TV and the newspapers. The poor rubes are the last to buy in a boom and the last to sell in a bust.
July 6th, 2009 | Bill Bonner | 1 comment | Continued