Buried Headlines: July 16, 2012

California is an absolute economic and fiscal basket case. The Golden State taxed and regulated itself out of prosperity and into insolvency, and it's still throwing money it doesn't have into epic boondoggles such as the $68 billion high speed rail. Government in California knows no boundaries, and now some of the state's municipalities are using eminent domain to assume properties with troubled mortgages.

You Knew This Day Would Come: CA Cities Eye Plan To Seize Mortgages

Note To The CA Legislature: High-Speed Rail Does Not Help Economy

ECOMINOES FLASHBACK: California: The GDP, Budgetary Woes, And Resistance To Austerity Of A PIIGS Nation

In other news:

IMF: Global Economic "Recovery" Showing Signs Of Trouble

IMF Says Japan And Spain Are Done, "Debt Ratio Will Never Stabilize"

Europe's Lessons For The U.S.

Obama Fails The Young

As A Result, Fewer Young People Plan To Vote This November

Epic Rick Santelli Rant On "Un-American" Federal Reserve, Treasury Incompetence

Facebook's Zuckerberg Gets Multimillion-Dollar Loan At Rate Lower Than Inflation

Microsoft, NBC Dissolve MSNBC.com Joint Venture

"Avengers" Director Goes On Anti-Capitalist Rant