Tuesday, December 14, 2010


(click on chart to enlarge)




  1. Here is a sure sign of implosion dead ahead: My Stepmother decided it would be wise to take the advice of Lincoln SageMark Financial... They put my entire trust into Muni's. It's down 18.8% in a few short months and will likely be cut in half or worse. Adios dinero, by the time the rug pull arrives, these won't be worth wallpapering a bathroom.

  2. WOW! Ben C! just wow!.

    Good luck m8ty

  3. The Fed will step in a back stop the states and cities. They will announce QE3 in 2011 and start buying up muni debt.

  4. I know the day is young, but congrats to the Metal guys for keeping PM's above the line, on days like this I suspected Gold to go down as far as $1360...nope couldn't even break the $1380 mark.

    Get some now folks the next leg up is a MOON TRIP!...you heard it here first.

  5. The FED is already back stopping everything in sight and will do so until the USD becomes worthless.

    What happens if we get a series of large west coast banks failures that causes the derivative domino meltdown? Too big to fail becomes too big to bail and down goes Frazier.

    Joe M.

  6. I think the Feds would print whatever it takes to prevent large-scale muni defaults.

    I think that even Cal only pays 7% of its revenues in interest. And the state constitution puts GO payment 2nd in priority after education. So Cal has to pay.

    FWIW I think the focus should stay on Uncle Sam/Gentle Ben.

  7. California borrows from Uncle Sam in order to brigde it's budget shortfall. In fact, it's already borrowed over $10 billion just fund unemployment insurance.

  8. California is by far the best run state in Mexico.

  9. @bill: ok, so i have to ask, what is meant more specifically by your statement that CA is the best run state in mexico?