CAIVP

A few days ago, we reported that Gov. Schwarzenegger organized a lavish conference with world leaders on environmental concerns. Now, the Sacremento Bee reports that several California lawmakers are attending conferences all over the world.  Yet, CAIVP has just received exclusive inside information that California is facing a budget crisis, leaving us pondering: where are our leaders and what are they going to do about our money problem?  From the Bee:

When Jonn McCain and Barack Obama rushed back to the White House prior to the election to make sure the $700 billion dollar bailout plan succeeded, many Americans where understandably concerned about the implications of such a consolidation of financial power and wealth.  Little did most Americans know how quickly bailout spending would spiral out of control.

Proposition 8's opponents seem to be quite intent on riding the Alienation Express all the way into the last stop on the railroad of irrelevance. However, having already commented on their disgraceful behavior, it seems redundant to condemn their most recent antics without some level of reflection as to the reasons for their behavior.

I remember when I was a kid, my mother got me a checkbook and a home "savings account" and told me that I had to learn to manage my money. I earned a large sum of $20 per week for doing dishes, taking out the trash, cleaning my room, mowing the lawn, etc. Every week, I would jot down another $20 that my bank (mom and dad) owed me. When I wanted a new video game or a movie, I would deduct the cost from my total. I was proud to see my savings grow and actually enjoyed the big boy responsibilities (and relative financial independence) my parents gave at such a young age.

With elections over for more than a week now, you better get ready for the never ending campaign season to pick right back up.

With Arnold on his way out, a Republican party unable to define itself, and the 2008 elections dominated by Democrats (and Obama's near 2/3 majority in California for the Presidential election), the San Francisco Chronicle reports that a lot of political heavyweights are waiting to hear an official decision from Dianne Feinstein on whether she will seek the highest office in the state.

From the Chronicle:

There are many economists, politicians, and journalists that think they have a miraculous way to make bailouts work. Thus far, our government and Federal Reserve Bank have limited the bailout debate to who should get what money and how much. Yet, all this argument over how to best manipulate our economy is totally irrelevant if we don't recognize the fundamental problems our monetary policy creates in the first place. You can have a house made of gold, but it will surely sink if your foundation rests on quicksand.