There's no place like home--Or would you rather be in OZ?

The state of Kansas is broke.

The Kansas City Business Journal reports that the state has only $5 million in the till (versus a $6.5 billion annual budget) so they do indeed appear to be out of cash.

And now the state has come up with a novel idea, delay tax refunds. You read that right, if you live in Kansas you might not be getting your state tax refund.

Now you might be thinking, I don't live in Kansas--so I don't care. Well you should care. If you don't think the situation in states like Kansas and, oh my gosh, California are going to effect you, you are wrong. If you don't think this is going to have a negative effect on stock and bond prices you have your head in the sand.

News like this is bearish. And by this, I mean bearish on your already beaten up 401 K.

If Dorothy left for OZ in the morning do you think she would be saying, I wanna go home? Hopefully she cashed in here 401 K before she left.

Situations like these bear watching and call for risk aversion in the market at the moment.

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