California’s budget troubles are not going away. Moody’s Investor Services warned the Golden State it faces a “multi-notch” downgrade to its credit rating if the legislature does not produce a budget that closes the $24.3 billion deficit. The state’s current A2 rating is the lowest rating for any state’s general obligation bonds.
China is going all over the world to lock up supplies of key commodities. This is just the latest example of the Chi-coms flexing their capitalist muscles. It is not a level playing field, our laws require companies to only do business with certain countries, and cannot pay bribes. China goes anywhere, ignoring human rights, and plays by no rules except “Do the deal”. Durable goods orders were up in May for the second straight month. Orders for non-defense capital goods jumped 4.8%. This was the biggest jump since September 2004. These two good economic indicators set an optimistic tone for the market this morning. New home sales fell, but investors seemed to ignore it, until the FOMC announced they were going to leave rates at 0.00 to 0.25%.
Full Story: California Dreamin' & Crude Oil - Seeking Alpha
China is going all over the world to lock up supplies of key commodities. This is just the latest example of the Chi-coms flexing their capitalist muscles. It is not a level playing field, our laws require companies to only do business with certain countries, and cannot pay bribes. China goes anywhere, ignoring human rights, and plays by no rules except “Do the deal”. Durable goods orders were up in May for the second straight month. Orders for non-defense capital goods jumped 4.8%. This was the biggest jump since September 2004. These two good economic indicators set an optimistic tone for the market this morning. New home sales fell, but investors seemed to ignore it, until the FOMC announced they were going to leave rates at 0.00 to 0.25%.
Full Story: California Dreamin' & Crude Oil - Seeking Alpha
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