Apparently, it doesn't even matter. MarketFolly bring the woeful tale of short-seller hedge fund manager Jim Chanos who has probably had a great year considering the markets. Alas, he is facing 20% redemptions on his fund as customers scramble to take cash out wherever they can to cover obligations (think pension funds and universities). And that giant sucking sound? It's cash flying out of the stock market as everyone tries to go to cash, pronto.
On the state bankruptcy front, we hear from Jr. Deputy Accountant that, according to a recent report by the Center on Policy and Budget Priorities, California is not the only state facing The Abyss of bankruptcy but, rather, 46 states could end up going belly up, as well.
So while its easy to pick on Arnold, he might not seem so silly once the shoes start dropping in other states.
Alex Salkever is the Director of Research at Piqqem.com, a stock prediction community that leverages the Wisdom of Crowds to beat the markets.
Closing Bell: Stock bulls and dollar death (DDRX,GMCR, PEET, SBUX, EBAY, CI, TECD)
So long peak oil, here comes peak uranium
Black Friday expected to be strong, no promises for Christmas
