Increased Jobs and Home Sales = Increased Burger Flipping and Short Sales

And despite all the news Arnold had to relate, he forgot to tell David that personal bankruptcies in California have hit new highs…

“Bankruptcy filings in Sacramento and the Central Valley soared to an all-time high in 2009, up nearly 50 percent from 2008’s totals, figures from the U.S. Bankruptcy Court in Sacramento showed Thursday.”

http://www.sacbee.com/topstories/story/2446765.html

…or that the state is trying to blackmail the feds into giving them even more bailout money to close a $20 Billion budget shortfall:

New Year but No Relief for Strapped States
CNBC, Jan 6, 2010

“In his state-of-the-state message here, Gov. Arnold Schwarzenegger, a Republican, will proclaim California close to incapable of paying for social services in the next fiscal year, which begins in July, unless the Obama administration greatly increases aid to the state.”

http://www.cnbc.com/id/34725649

- Tomga

Related Posts:

• A federal bail out for California?? Not just “NO,” but “HELL NO!”
• Thin trading volume. Here is why:
• The government borrowing needs is increasing but Geithner says otherwise.
• Obama spoke about 3 million plus jobs only to pass the stimulus.
• Banks, FRE and FNM already face huge losses for years to come.

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