Oil prices holding steady

Oil is not spiking in spite of a good Christmas sales and election spending. Good news, and Citigroup attributes the calmness to a slumping China. I still expect a California contraction next year as 7-8 new tax hikes hit the middle class, but the Eastern seaboard should survive the tax hikes much better.

Obama wants another huge debt burden for the middle class

No 'Drama' Obama--Wants to Raise 'Debt Limit Without Drama or Delay'

Quietly, and without fanfare; our president is planning an assault on the American middle class. For you Californians here is the score. The California middle class will lose 3% of its wealth, permanently, just to pay off Obama 6 trillion dollar debt binge. All total, the government in DC and the government in Sacramento have conspired to take another 5% of middle class wealth next year.

Detroit going belly up

President Barack Obama should step in and help. City Council member JoAnn Watson said Tuesday the citizens support of Obama in last month's election was enough reason for the president to bailout the struggling the city. (Click the video player to listen) Fox

Detroit is a case where multipliers are much less than one

I conclude that Windows Internet Explorer sucks

I try the slider bar to move a page display up or down. Explorer reports that some web site is not responding. But, hey, I am not moving web sites and could care less if it responds, I am moving pixels on the damn screen, and I know the pixels are available for moving, I can see them, spit on them, so Explorer move the damn pixels and quit telling me stories about some unresponsive web site.

While I am blogging

Has anyone found any Democrats in California willing to fight for our ten Senate seats? You mean all Democrats are oligarchal cowards? Say it isn't so!

Grover Norquist, welfare bum

In a 2011 interview with The Washington Post editorial board, Norquist appeared to suggest that not renewing tax cuts doesn’t constitute a violation of the pledge. Here’s how it was written, from July 2011: In other words, according to Mr. Norquist’s interpretation of the Americans for Tax Reform pledge, lawmakers have the technical leeway to bring in as much as $4 trillion in new tax revenue — the cost of extending President George W. Bush’s tax cuts for another decade — without being accused of breaking their promise. “Not continuing a tax cut is not technically a tax increase,” Mr. Norquist told us. So it doesn’t violate the pledge? “We

What is going on? Norquist and his friends are big on defense welfare, they live on government handouts from the defense industry, they are welfare bums, as are most Republicans.

So, CA hispanics, what say we secede and join Mexico?

Mexican boom While California’s economy is in the doldrums with 10.1 percent unemployment, Mexico’s economy is booming with only 5.0 percent unemployment. The Mexican business climate is benefiting from strong production growth and increasing job opportunities. More than 1.4 million Mexicans — including about 300,000 children born in the United States — returned to Mexico from the United States between 2005 and 2010. Net immigration to the U.S. dropped to zero since 2008, while American immigration to Mexico is thriving. UCLA predicts that California’s employment growth will average less than 2 percent for the next three years. The Economist magazine expects the Mexican boom to continue; since manufacturing costs are more competitive in Mexico than in China: “Mexico is already the world’s biggest exporter of flat-screen televisions, BlackBerrys and fridge-freezers, and is climbing up the rankings in cars, aerospace and more. On present trends, by 2018 America will import more from Mexico than from any other country. “Made in China” is giving way to ‘Hecho en México’.” A key competitive factor, according to accounting research firm KPMG, is Mexico’s #1 international ranking as the best place to do business from a tax burden point of view. Cal Watch

So all you deranged CA hispanics, how is it that Mexico runs their nation better than California? If Mexico is doing so good, then why aren't you all demanding CA independence from DC. After all, they have more democracy in Mexico, a better economy and smarter politicians. Wassa matter? Independence for California scare you?

Another CA city going under?

SAN BERNARDINO (CBSLA.com) —  The city attorney of San Bernardino is under scrutiny for telling residents to “lock their doors and load their guns” during a city council meeting.

The official explained that because the city is bankrupt and slashing public safety budgets people will need to start protecting themselves.

City Attorney Jim Penman said he doesn’t regret what he said.

“You should say what you mean and mean what you say,” Penman said.

The city attorney said approximately 150 residents came to a council meeting to voice their concerns about recent crimes in the area, including the murder of an elderly woman last week.

“You could tell the swell of frustration was coming over a lot of folks. They did not feel like they could get an officer out as quickly to some of the quality-of-life issues that they were dealing with as they would have preferred,” said City Councilwoman Wendy McCommack, who organized the meeting and was present that night. http://losangeles.cbslocal.com/2012/11/30/city-attorney-tells-san-bernardino-residents-to-lock-their-doors-load-their-guns-because-of-police-downsizing/

Compton, now this. The bankrupt creature is approaching LA for the kill.

Fake growth for election purposes

I knew the recent growth spurge was simply government moving forward purchases for election bribes. Zero Hedge shows us the numbers.

So what drove "growth" in Q3? Nothing short of the most hollow and worst components of GDP: Government Spending, which soared to 0.67% of the annualized number, the first positive print in years, and of course, Inventories, which were responsible for 30% of the headline number.

Most of us knew that Obama used government debt to win the election, oligarchs pull this crap and fake economists push the lie with happy talk during the election. Now watch us pay for that spending with a growth rate near zero.

This time is different

Fitch cut its long-term rating for Argentina to "CC" from "B," a downgrade of five notches, and cut its short-term rating to "C" from "B". A rating of "C" is one step above default, AP reported.

US judge Thomas Griesa of Manhattan federal court last week ordered Argentina to set aside $1.3bn for certain investors in its bonds by December 15, even as Argentina pursues appeals. Telegraph

Argentina does fiscal management by default. It works, but is a little inefficient.