State of California debt is now $612 billion. This is terrible. They are taking their lead from federal government that has additional debt of $37.6 trillion, both debts are climbing rapidly. When a country injects so much stimulus (taking in $5 trillion per year and spending $7.5 trillion per year) and distributing this cash to people and companies, and still most companies are showing lower next income than prior year, this is dire sign of a huge crash coming. Debts and defaults are already exploding. Beware.
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