George Will on Coming War Over Public Pensions
Be sure to catch George Will’s Washington Post piece on the coming battle in the new Congress over state and local public pensions. In early December, we posted the report by James Pethokoukis of a...
View ArticleChart of the Day: Bond ETF Performance
Interesting chart showing performance of Bond ETFs. All have slid into year-end, converging around a 3-5 percent annual return, setting up nicely for a “jump ship” trade into equities. Muni bonds...
View ArticleBetting on a Jobs Recovery, Christie, and Brown….
Like others, we can’t help but notice the massive outperformance of small caps in 2010, with the Russell 2000 doubling the performance of the S&P500. The Russell was up over 25 percent in 2010....
View ArticleState and Local Governments, Man Your Battle Stations!
Take a look at the new cover of the Economist. We have been all over the coming “battle royal” between the state and local governments and their public sector unions, but not as much as Mike Shedlock...
View ArticleThe Graying of Calfornia’s Flower Children
Well this is a depressing chart and remember California usually leads the nation. We fear us baby boomers risk eating all the “seed corn” and leaving nothing for the younger generations to invest...
View Article“Fort Sumter” Opens Fire: Battle for the Public Sector Is On
The battle for the public sector is on. The Governor of Wisconsin just announced what amounts to be the abolishment of public sector unions in his state. What an incredible contrast of the health of...
View ArticleChart of the Day: California’s Volatile Revenue Base
The following chart is from the California Legislative Analyst’s Office (LAO) and is indicative of the state government’s unstable revenue base. The government receives a higher proportion of its...
View ArticleGovernor Brown Vetoes “Greece on the Pacific” Budget
Governor Jerry Brown just vetoed California’s budget, which was put together in haste last night so legislators would still receive their pay. A ballot measure passed by voters last year meant that if...
View ArticleLocal Government Financing in China
Yikes! Look what California’s dependence on tax revenues from the dot.com and housing bubbles did to that state’s fiscal health. We’re going to see some fugly naked bodies when the tide recedes in...
View Article
