The numbers jump at me too.
$445 K cannot even buy a shack in a shady part of LA. But it can buy a highly publicized writeup in the LA times. Note Gross manages a $76 B bond fund.
Just in time for California to float new bonds. Wonder whether Arnie's cigars arrived in the mail.
And yes, those federal & state exemptions are nice for any investment. The savings might even cover Gross's gas bill for the whole year <g>.
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This much is for sure. The state's finances are still in peril:
* Essential services have been badly hit.
* Quality of life (except the weather) is very comparable to the third world. i should know, i lived a good part of my life in the third world.
* There is no jobs recovery. The only jobs available are $10 per hour mortgage loan processors or debt consolidators.
* Taxes, already the highest in the country could be increased again (Governator thinking out loud).
* Housing market*: Folks are extremely worried (buyers) and thrilled (owners). HELOC's are a good reason to visit the casinos more often. And they are popping up everywhere.
* Bubbles all over: SD, Orange, LA, Riverside, Ventura, SB, SLO, Monterrey, SC, SF (& the entire BA), Marin, Sonoma, Napa.. the whole coast is surreal estate. |
