Another from Zero Hedge – This about California

http://www.zerohedge.com/news/california-run-out-cash-one-month-controller-warns

So 3 years after Lehman filed for bankruptcy, everyone in the world continues to be terminally insolvent, but because everyone is in the same boat, everyone pretends not to notice and the best thing is just to blame Meredith Whitney for telling it like it is, if not getting the timing quite right? But at least the Fed isn’t about to print up a tsunami of dollar-equivalent ones and zeros.

Inflation seems to be viewed by the Federal Reserve as a feature, not a bug.  Debtors are in control.  Savers, Watch out.

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