IOU.
This is the photo of Citibank’s policy on accepting registered warrants. A registered warrant is an IOU. It can be redeemed on October 2 or earlier if the State of California finds the money. Continue reading
Â
Unemployment is at 8.3 % in California. That’s pretty insane. And that doesn’t include people who have stopped looking for work or are underemployed (working parttime for peanuts) or business owners who are going under.
Can you hear the screams.
I can.
Now the counties that are especially hurting: 24% unemployment in Imperial County. In Yuba County it is at 12% and there are lots of places already at 10% and/or creeping towards 10%.
California isn’t the only place hurting. Michigan (Detroit auto industry) 9.3% and Rhode Island is also at 9.3%. Continue reading