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Golden Gate artworkCalifornia, the "Golden State," is not golden anymore. It has the biggest debt, the biggest budget deficit, the lowest bond rating, and (arguably) the highest taxes of any state in the union.

Schwarzenegger at budget news conferenceBack in February, California politicians and taxpayers received a wake-up call, but, apparently, the alarm wasn't loud enough to wake them.

credit cardThe Obama administration on June 30 unveiled its latest attempt to put an end to the free market in financial services in the United States.

dollars in back pocketAs the fallout from the global financial crisis continues, the burning question in international financial circles is whether the U. S. dollar, the world’s reserve currency since the Second World War, can retain its status. Chinese and Russian leaders have already signaled their distaste for continued dollar hegemony, and the latter have even taken the extraordinary step of publicly seeking assurances that their dollar-denominated assets — U.S. government debt — will be protected.

Fed HQThe Federal Reserve caused the current economic crisis by suppressing interest rates and creating the housing bubble, Texas Congressman Ron Paul, Euro Pacific Capital president Peter Schiff, and others have charged. And now there’s  finally been enough political push-back for the damage the Federal Reserve has wreaked that  the Fed will be hiring a lobbyist.

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