In today’s Big Picture, Jim Puplava looks at the things we do know, i.e. the market is expensive, vs. the things we don’t, like how many times can the Fed hike rates before an over-leveraged player or sector breaks. Then, in the second part of today’s podcast, Jim focuses in on California with “Lessons in Stupidity,” looking at the bills that are being passed and why people and businesses are continually leaving the state.