My beloved state of California, whose $2 trillion economy is the eight largest in the world just ahead of Italy and Russia, has a new problem: it’s awash in cash. It’s projecting multi-billion dollar surpluses for years to come, and the feeding frenzy in Sacramento is a sight to behold. Not all that long ago, in February 2012, California was still broke; the out-of-money-date would have been March 8 that year.
Read…. California MUST Have Magnificent, Endless Bubbles in Housing, Stocks, And IPOs – Or Go Broke Again