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A summary of California State Finances for August 2012 looks like this: Except for corporate income taxes (down a whopping 71.5% vs. projections), the state is doing better in August than budgeted.
View article: QE to Infinity and Beyond; Mish for President?
View original post here: Romney’s Nearly Impossible Math; Foot-in-Mouth Disease; Mish Electoral College Prediction
View article: Reflections on Social Media and Demographics
Read this article: Rehypothecated "Ghost" Steel Pledged as Assets in China, Nowhere to be Found; Did it Ever Exist?
View post: Email From Lead Analyst, Weekly Petroleum Supply Team on Possibility of Recession
Continue reading here: Austria Central Bank, Germany Place Conditions on Spain Bailout and Bond Purchases
Very complex and sometimes contradictory laws High level of corruption within public administration and politics Article 18, a section of the Workers Statute makes layoffs for economic reasons very, very difficult and it is applicable to companies that have 15 or more employees. This is a major reason why Italian companies have so few employees. The other one is that Italian company are mainly family run
Panic! In my previous post Desperation Bazooka Tactics; Gold Soars Following Huge Headfake , I mentioned " This seems like desperation bazooka tactics.