In this week's Off The Cuff podcast, Chris and Mish Shedlock discuss:
- The Pension Crisis Starts Bubbling Over
- Illinois is serving as a preview of what's to come
- The Price-To-Fraud Ratio
- Stocks are being priced on phony earnings
- Netflix: A Case Study Of A Classic Scam
- Losing $billions each year in cash flow, but reporting a profit
- A Coming Price Deflation?
- It's going to happen, Mish predicts
In a discussion sure to get your blood boiling in anger, Chris and Mish look at the actions of those in power as the repercussions of their poor decision-making begin to become apparent. Do they take ownership of the problem? Do they prioritize developing solutions? No: they duck out the back door, while voting themselves fat severance plans.
Here's Mish's accounting of what's going on right now in his home state of Illinois…