Economics and Investing:
Ay, Carumba!: California borrows $40 million a day to pay unemployment benefits. No doubt, higher payroll taxes will be coming soon for Californians. Obama returns fire after China slams Fed’s move. [JWR’s comment: The Obama Administration’s position on the Quantitative Easing monetization scheme is like a teenager claiming that he can pay his VISA Card balance with his MasterCard.] I guess you’ve all seen the recent jump in the spot price of silver. FWIW, I’ve been touting silver since February 2001, just before it bottomed. I’m standing by my prediction of $50+ silver. I’ll grant that I was early when …