California’s fiscal train wreck should be watched warily by investors in U.S. Treasuries; as the start of a trend among states seeking bailouts, as a source of pressure on Federal funds and as a harbinger of hard choices at national level.
The Great Debate
– Robert J. Dewar is a former Ford Motor Company general foreman and author of A Savage Factory: An Eyewitness Account of the Auto Industry’s Self-Destruction. He currently lives in Cincinnati, OH and runs a successful packaging business with his wife and family. The views expressed are his own. –
Sure, seeing your economy shrink at a 15 percent annual clip is depressing, quite literally, but if you believe in even a tepid global economic recovery in the second half, then Japan is actually attractive.