Tag Archives: California
As a manager in Newport Beach, California, concerns over the state’s viability have never been so palpable in the face of an almost $16 billion budget deficit and rising taxes. The answer to a certain course of default is not just cost-cutting or raising taxes. The state needs creative entrepreneurs to rethink every process of providing services. If the focus [...]
Greece Update: Bond Vigilantes Return, Credit Markets Elsewhere Recover, California Bonds in Demand?!
Time to check in with the Greek narrative. The hysteria has quieted down as new backroom deals to avert a meltdown are reported with some regularity. However, the attempts to sweep Greece’s problems under the proverbial rug are occasionally sidetracked by a pack of rioters, or as is the case below, by the bond vigilantes. If rates continue to creep higher [...]
The equity markets dropped on average 1.5% Monday and this morning another 1.5% decline is underway. I mentioned, in A Review of the RCM Investment Strategy, the defensive posture we at RCM have taken. I said, “We have deployed our assets in a manner we feel most appropriate for the environment we are experiencing.” The following news items should help illustrate what [...]
The race to the bottom is on! The only question remaining: Who will blink first? I am referring to the race to default. As you will see when reading the stories below, the USA and the EU have major cracks in the foundation. Should Greece and/or Portugal default on debt the Euro would suffer accordingly. However, if and when California [...]