My Dear Extended Family,

For the Grace of God there go we.
Give thanks for what we have.
God helps those that help themselves.

Take a moment of silence for those suffering this Christmas, for there are many. It was all unnecessary. This could have been a normal, tolerable and actually good for the system 4 year recession of modest proportions.

Their pain, even if they do not know it, came from others becoming trillionaires on Federal funds. Their sworn enemy, although they do not know it, is OTC derivatives.

Since no intervention has been aimed at the cause, no solution to the problem is possible. Do not give up your insurance, no matter how hard F-TV tries to convince you to.

When you are deluged with the MOPE about Greece, Spain and Ireland, think about California and the 40 other states right behind it. The Formula of 2006 will not be denied.

Stay the course. Do not join the suffering many.

Respectfully yours,
Jim

Dear Jim,

With the advice you have given, anyone who followed it has to be blessed this season…

One has to be thankful if they have a roof over their head, food to eat and two and four legged family and friends close by. So many do not even have that.

“The recession has hit California doubly hard. It was one of the states with the biggest bubble in house prices so there has been the inevitable bust. One in every 180 homes received a foreclosure notice in November.

The construction industry is at a standstill and unemployment is well over the 10 per cent national average at 12.5 per cent.

The other problem facing the state is its Government finances. Years of fudging the budget numbers have left California in a fiscal hole that no amount of creative accounting can obscure.”

More…

It looks like California is really hit by the Formula. The author has not heard about Detroit’s 45% unemployment… California used to be the state of opportunity.

CIGA BT