California as bell weather

This is important to the extent that, depending on how you count, California is the fourth or fifth largest economy in the world. That is “the” world folks; including Japan and China, California by itself is the 5th largest economy in the same league as China, Japan, Germany or the UK.

This is what deflation brings about when you are in debt.

http://www.latimes.com/news/local/la-me-villaraigosa13-2009may13,0,5928252.story

http://www.marketwatch.com/story/california-treasurer-requests-tarp-help?siteid=rss

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