Peacenik has posted about the California situation before. It was bad then. It is worse now. And remember California is the future.
Peacenik tries to figure out why Ontario should be any different from California. Ontario's manufacturing is going the way of the dodo bird. Real estate is over priced. The TSX plunged almost 500 points yesterday. Unemployment is soaring. Pension plans are failing. Why should Ontario be any better off than California? Peacenik says it isn't. Cash out, Cash in, and prepare for collapse.
by Martin D. Weiss, Ph.D. 06-22-09
Washington and Wall Street seem to be treating California as if it were a sideshow in the financial circus of these turbulent times.
It’s not.
California is home to the largest manufacturing belt in the United States and to Silicon Valley, the nation’s largest high-tech center.
California is America’s most populous state with 38 million people. Its GDP of $1.8 trillion is the largest in the U.S. Its economy is bigger than those of Russia, Brazil, Canada, or India.
California's Mortgage Nightmare
And it’s collapsing.
Major California counties are ground zero in the continuing mortgage meltdown:
Read on...
Peacenik tries to figure out why Ontario should be any different from California. Ontario's manufacturing is going the way of the dodo bird. Real estate is over priced. The TSX plunged almost 500 points yesterday. Unemployment is soaring. Pension plans are failing. Why should Ontario be any better off than California? Peacenik says it isn't. Cash out, Cash in, and prepare for collapse.
by Martin D. Weiss, Ph.D. 06-22-09
Washington and Wall Street seem to be treating California as if it were a sideshow in the financial circus of these turbulent times.
It’s not.
California is home to the largest manufacturing belt in the United States and to Silicon Valley, the nation’s largest high-tech center.
California is America’s most populous state with 38 million people. Its GDP of $1.8 trillion is the largest in the U.S. Its economy is bigger than those of Russia, Brazil, Canada, or India.
California's Mortgage Nightmare
And it’s collapsing.
Major California counties are ground zero in the continuing mortgage meltdown:
Read on...
