Beefcake

Wall Street Breakfast: Must-Know News

Rabbi Hoffman...did you have an easy fast this year?

Wall Street Breakfast: Must-Know News

Yeah it is a neat trick with those Calif IOU's. So whats the problem with them??? They are IOU's!!! Hello...there is nothing there to back it up. It is just like the good ol' days of school when your friend would take $.25 out of your desk and replace it with a little piece of paper from his note book that said "IOU". Yeah it was an IOU except you never received anything back.

This is the same thing brewing up here. If you like the IOU's you either have so much cash invested everywhere else that you are forced into making this investment, or you are just flat out insane.

California is a few short steps away from Junk, and I forsee it heading in that direction. It seems everyone there has their head stuck up between their legs and really can't come up with a solution. This is the best they could come up with??? Come on!!! Anyone can figure out something better than an IOU. My suggestion...stay away from California investments for a while. It's just not worth the risk.

Wall Street Breakfast: Must-Know News

Mazel Tov Eli! Did you have a good new year?

User273569 you have to realize that this is not just a US crisis going on. This is a global issue. You have Europe in a ression with high inflation. Many other countries had significat amounts of money invested in the US and the losses they have faced continues to put pressure on their currency as well. Additionally there are many speculators in FOREX.