Several states are showing scary illiquidity. New Jersey’s governor just yesterday impounded funds the legislature had already appropriated and announced a state of emergency. He stopped short of “declaring” emergency, which would have given him special powers over contracts. New… Continue Reading →
A blogsite, “Mish’s Global Economic Trend Analysis” recently aggregated a selection of news stories covering state and local government budget deficits and proposed layoffs. Click here to link to the post. There are a few differences between private sector layoff announcements and the public… Continue Reading →
Oregon voters passed Propositions 66 and 67 yesterday which support Governor Kulongowski’s budget proposal. The following link will give you detail on the propositions, the vote, the key donors to each campaign and the groups advocating pro and con. Oregon is… Continue Reading →
Midterm congressional elections will be lively this year. Conditions are ripe for tax and spending initiatives and numerous recall elections are also on the popular agenda. Budget deficits, rising taxation and runaway spending are factors leading to tax and spending limitations. … Continue Reading →
A particularly toxic form of adjustable rate mortgage is going to hit the headlines in the spring and summer of 2010 with defaults, foreclosures and workout discussions extending into 2012. “Option ARMs” also known as “Pick-a-pay” allow the borrower to… Continue Reading →
The slowdown in migration in the U.S. has significant consequences for municipal finance. New population growth in a community has been the driving force in municipal infrastructure finance since the beginning – and the slowdown we have seen over the… Continue Reading →
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