The uber-Liberal citizens in the deep blue uber-Liberal state of Mexifornia are reaping their just rewards from worshipping the Gods of Egalitaria!
sacbee.com
Excerpt:
Roughly 200,000 state workers will receive minimum wage paychecks next month under terms of an order issued Thursday by the Schwarzenegger administration.
According to a letter delivered to Controller John Chiang in late afternoon, July pay for most hourly state employees will be withheld to the minimum allowed by federal law – $7.25 an hour – and then restored once there's a budget.
Chiang, whose office cuts state paychecks, said Thursday that he won't follow the order unless a court tells him to.
The letter from the governor's Department of Personnel Administration instructs Chiang to withhold employees' pay because the state started the 2010-11 fiscal year Thursday without a budget appropriating money for payroll. Hours earlier, Gov. Arnold Schwarzenegger officially ended 17 months of furloughs for state workers.
The minimum-wage order exempts roughly 37,000 state workers in the six bargaining units that have tentatively agreed to labor deals.
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...and the court told Chiang to proceed! :-)
sfgate.com
Excerpt:
The governor has the authority to lower most state workers' pay to the federal minimum wage if a state budget isn't in place, a state appeals court ruled today, the second day of California's 2010-11 fiscal year.
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Wow! That could not happen to a nicer group! I hope and believe it becomes much worse! :-)
How's that for "hope and change"? :-)
I hope their economic tragedy snowballs into a full scale disaster soon!
I will be selectively shorting California’s state bonds, U.S. equities, and buying puts and naked puts with an extra spring in my step and song in my heart, every step of the way, as they fail into the sweet sunset; failure which is the result of national suicide right before your very eyes! Mexifornians are reaping their just rewards from the multicultural paradise that they have pined for and built! God bless 'em! :-)
To the dwindling creed of conservatives – real conservatives, not the neocons and moderates -- who are stupid enough to still live there, you have my sympathy, but it's time for you to see the light and bail out.
Multiculturalism and diversity! What a great, winning combination -- if you've got strategically leveraged derivatives!
Pick and choose your spots, my friends! There is plenty of money to be made on the downside in the months ahead as the Titantic goes down! :-)
I covered all short and leveraged-short positions today after a great week, and I am fully liquified heading into next week. Don't get greedy! There is much "worse" news to come, depending on one's perspective! -g-
;-)
John
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