California and “Solving Problems”

May 15, 2012

American masters of the universe and their toadies give self serving lip service to covering some events in Europe. They are forced to really. But when it comes to the last Ponzi standing,  the US, we see little of the kind.  For example recent estimates of California’s budget deficit soared to $16 billion, compared to $9.2 billion estimated in January. Tax revenues are falling far short.  Now the state proposes more tax increases and spending cuts. Even though California is a non-recourse state, bankruptcies are running hot.  The other state to pay close attention to is Illinois, a political quagmire of the highest order.   My prediction: both California and Illinois are political hot potatoes and Democratic states. Therefore any attempts at Federal bailouts of states will be gamed unmercifully.  Look for this to develop pre-election.

3 Responses to California and “Solving Problems”

  1. Gerald on May 16, 2012 at 3:27 pm


    Give it a break. Is it possible to post anything of yours that is reality based. The only thing you mentioned as a call was XRT breaking out to a new high. You topped ticked that perfectly.

    As your knowledge of being a good trader I had to have a good laugh. Buying when profits are at all time highs is when you should be selling. Buying retail and stocks when profits are at a low is proper. All the great trader with years of success will say this and the market proves this to be right.

    You are quite the joke. Go back to the yahoo message boards. You do provide quite the laugh with your stupidity.

    Two questions.

    Are you smart enough to know your dumb?

    Does your mom know your on the computer this much in the basement?


  2. JR on May 16, 2012 at 10:41 pm

    Even ZeroHedge now pimps this Euro is doomed, while ignoring the fact that US debt is junk, so a Ponzi sheme of the highest order.

    Kudos Russ, though I still say good luck predicting anything. Credit bubbles weren’t called credit bubbles for nothing. They float through the air, moving seemingly at random.

    Here’s a short verse about the ponzi scheme from which the phrase ‘credit bubble’ originated;

    An old Welsh Justice, mounted on a goat…. Is asked which way his Justice means to trot…. To London he is travelling, quoth he…. To sell Welsh copper, and to buy South Sea

    Yet no one laughs if you swap Welsh copper for gold & US Treasury for South Sea!

  3. Gerald on May 17, 2012 at 1:23 pm


    The thing is you represent the worst of the internet. You hide behind anonymity, post nothing constructive and seek to destroy anything resembling construction conversation.

    Russ, on the other hand represent want is great about the internet. Using real world experience, knowledge and great writing skills puts his views out for all to see. I have been reading Russ long before his days with the Wall Street Examiner. I have been amazed at his ability to post concise fact based material in an easy to understand format. I welcome people that share knowledge and experience to at least help people see the light. In his own way he has expanded my thinking about our situation. Years ago he posted daily about events to unfold and made many correct calls. I respect Russ very much and appreciate all that he has done as a blogger. A hero if you will in his own way.

    You on the other hand epitomize what is wrong with the U.S. as a whole. You hide behind anonymity and post nothing constructive – but like to throw out nonsense and garbage that even CNBC would balk at. It seems everywhere we look the lowest common denominator floats to the top (shit and more shit and nothing but shit).

    Instead of trying to be disruptive why don’t you post well reasoned discussions with maybe a few facts throw in and some creative thinking.

    It saddens and disheartens me to see what is becoming of this once great nation.

    This will fall on deaf ears because as I stated earlier – you are not even smart enough to know you are dumb. You are one big stinking sack of shit. A small little man with no character or integrity. There is a very distinct line between a decent person and a piece shit. I pretty much know that you know in your mind you know which side of the line you are on.


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