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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (13233)	6/28/2012 1:15:42 PM
From: Challo Jeregy	2 Recommendations Read Replies (1) \| Respond to of 33421

hi Jorj and John - here is some interesting commentary along those same lines . . . Message 28232480

To: Jorj X Mckie who wrote (13233)	6/29/2012 8:13:18 AM
From: John Pitera	1 Recommendation Respond to of 33421

Tom, your assessment of the California economy is very well thought out. Particularly the Conclusions that guaranteed defined benefit retirement and medical programs were put in during the multiple bubbles that the economy experienced through the a1990's and then continued with the low interest rate boom of 2000 to 2007. And now these Entitilements are firmly believed to be earned and deserved. The state and the country's evolving balance sheet and cash flows are something that we all need to be re examining. John