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New homes sales are dropping off the cliff.
The deficit of California is growing, while the Democrats are planning billions in new taxes. Unemployment rates in California, real numbers, are growing--and it is massive when you discount the temporary census workers.
"In recent decades, California has never taken such precautions. Even when times were good and the tax money was rolling in, as during the dot-com boom of the late 1990s or the real estate-boom of the mid-2000s, instead of saving some money for use during a recession, virtually all the surplus tax money collected was spent on increasing the budgets of state agencies and pension spiking. No rainy day fund ever was funded.
Because there will be no cushion should the second half of a double dip recession hit within the next year or too, its worth contemplating what will happen.
Recession Part Two in 2011?"
The cost of borrowing is up, and we have borrowed $20 billion just to keep the doors of Sacramento open. In November we have a chance to stop the ending of jobs in California by putting a moratorium on AB 32. At the same time a ballot measure, if passed, would stop the State from stealing billions from local government each year.
California is in a mess--not sure we will have a "double-dip" recession--we never got out of the first one.
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The deficit of California is growing, while the Democrats are planning billions in new taxes. Unemployment rates in California, real numbers, are growing--and it is massive when you discount the temporary census workers.
"In recent decades, California has never taken such precautions. Even when times were good and the tax money was rolling in, as during the dot-com boom of the late 1990s or the real estate-boom of the mid-2000s, instead of saving some money for use during a recession, virtually all the surplus tax money collected was spent on increasing the budgets of state agencies and pension spiking. No rainy day fund ever was funded.
Because there will be no cushion should the second half of a double dip recession hit within the next year or too, its worth contemplating what will happen.
Recession Part Two in 2011?"
The cost of borrowing is up, and we have borrowed $20 billion just to keep the doors of Sacramento open. In November we have a chance to stop the ending of jobs in California by putting a moratorium on AB 32. At the same time a ballot measure, if passed, would stop the State from stealing billions from local government each year.
California is in a mess--not sure we will have a "double-dip" recession--we never got out of the first one.
More...