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[linrom1]

I am on the lookout for these things. I am certain that there will a lot more of these. Nothing was learned from the last depression except for the wrong lessons: ie. stimulus spending, Smoot-Hawley, increasing money supply.

From Bloomberg: News 2/19/09

California’s Legislature approved tax increases and spending cuts..a $13 billion tax increase passed.

Banks that already got cash from the U.S. Treasury after losses tied to mortgage securities may have to add billions to reserves for credit-card defaults, straining capital levels further. They are cutting credit lines, raising interest rates .

Edited by linrom1, 19 February 2009 - 11:30 AM.