California’s budget shortfall isn’t just an abstract problem involving some out-of-whack numbers. It’s a serious crisis that’s threatening to hurt people in the wallet — in July alone, the state is talking about handing out $3 billion in IOUs to everyone from contractors to welfare recipients.
How exactly did California get into this mess, and what [...]

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The next great crisis: America’s debt | 1913 Intel
At this rate, your share of the load will be $155000 in a decade. How chronic deficits are putting the country on a path to fiscal collapse.
Sovereign Debt | 1913 Intel
Latvian debt crisis shakes Eastern Europe Telegraph.co.uk - Jun 3, 2009 … a sovereign debt crisis after [...]

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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 [...]

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The summary outlook, according to Howe, is that we are in the very early stages of a 20-year period of economic and institutional upheaval – an era denominated by a crisis during which we’ll likely witness the tearing down and reconstruction of many aspects of society as we know it.
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Finally, there is the Fourth Turning, [...]

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As we will see next week, we are on a track that looks far more like the Great Depression than the recessions of our lifetimes. To expect a normal recovery cycle, whether it is corporate profits or lending or consumer spending or capital investment or (pick a category) is just not reasonable. This is a [...]

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It is a potent cocktail that has the Kremlin fearful that discontent in an anonymous town such as Pikalyovo could spark a wider revolt.
Hence Mr Putin’s furious denunciation of Mr Deripaska — long seen as the Kremlin’s favourite oligarch. The broader message he sent to business leaders was that they would be held responsible if [...]

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