Wednesday, January 21, 2009
My take on this Great depression II
The economy is in complete total meltdown with rapidly escalating EU, jobs cuts. Ca Gov't ready to axe and cut out payrolls and services. I go all over and see that the crowds have disappeared in the local shoreline resort areas, even during this past holiday. The consumers wallet has emptied out and credit has dried up. Fear of job cuts is on everyones mind - are U next? Retail is dead. I call this deflation, the worst since the great depression. Most folks haven't a clue and have their heads buried in the sand or get their info from the MSM and TV cable,. which are a bunch of liars or don't know squat. Better get your info on the real state of the economy from unbiased high-level blogsites such as Mish Global Economics and Bens Bubble Blog.
Ca gov't is completely BK and might as well shutter down for all i care. They can lay the axe on a good % of their useless state employees. As far as i am concerned The state is a hindrince to me though i hate to see such state treasures as our splendid state parks go to rot due to under maintenance and reduced staffing. Ca has bk'ed itself thru massive socialist spending -half of the state population is on the dole and the state will reach out to grab more taxes and wring more $ from the few productive working citizens. Ditto for county and local municipalities-the ruthless revenue collectors( your local police depts) are aggressively ticketing drivers to keep local city budgets afloat-their survival means your financial ruin.
Posted by degoboy at 11:22 PM