Economics and Investing:

Bailout nation continues: Schwarzenegger to seek federal bailout of California on threat of deep cuts. (Thanks to GG for the link.)

Also from GG: Austria nationalises Hypo in ECB-backed rescue deal because of “systemic importance in the former Yugoslavia”.

Items from The Economatrix:

Fitch: Britain and France Risk Losing AAA Rating

Thrifty Families Accused of Prolonging the Recession

UK: Families Hit By Worst Wages Crash in 50 Years

By way of Steve Quayle‘s web site: National Irish Bank Stops Handling Cash

Lack of Bank Liquidity Threatens Commercial Real Estate Market

States’ Jobless Funds Going “Absolutely Broke”

Economic Data Dump For Christmas Eve: Durable Goods Numbers “Ain’t” What They Seem