Well, of one thing I am certain—fiscal drag will offset monetary stimulus, and the result will be a torpid economy—with high unemployment and anemic growth. Hopefully, the Senate will be able to muscle enough change in the pending legislation to marginalize the economic drain, but I am not optimistic about that.    Read More

Ok, I realize that headline is a little over the top. But let me summarize recent developments in the Golden State, and you judge for yourself.    Read More