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Mick, 'Mat, Violent D, and anyone else from the United State Of California care to answer this question?
I am hearing nothing but horror stories about how bad things have gotten in California. Are any of you or anyone you know being hurt by this and what exactly is the problem?
whats going on :confused: what do you mean BG.
Well it's gotten pretty bad.
Lot's of businesses closing down, lot's of jobs being cut, things are getting expensive more and more by the hour.
I'm in the Aerospace/Military/Commercial line of work thus far has not seen any effects. However with Obamas plan to shut down the military/war during his term I'm sure we'll see some effect.
My girls in the real estate business, she's not a real estate agent but her business has taken a BIG hit for the past 7-8 moths. It's gotten really bad at times where she'll only have 1 maybe 2 transactions a month when on the norm she would have about 9-12 transcations.
Thats all happening here too Mick, must be global. People fear another fall.Quote:
Originally Posted by CutMeMick
Our economy was flat out, powering along and the dick heads thought; this cant go forever spending is now outweighing so they put the brakes on it slightly,Things were too hot it worked real well everyone with investments shit themselves and sold up now they cant get the brake fully off for a while its stuck.
Good money to be made fast if you got some to spare.
Businesses here are struggling, especially in construction.
My casino (Barona) was once the highest action in the US but now we just get the 'fleas', people that come in nudging their money back and forth in the hope of free rooms.
Restaurants are also taking a big hit here although fast food joints are slamming!
That's cool.. My brother lives in Cali as well and works in Aerospace at NASA, he study engineering theory and specializes in helicopter flight and guidance systems... The same for him, he hasn't mentioned any sort of instability in that industry, but his wife is a little more unsafe...Quote:
Originally Posted by CutMeMick
DId you all see that Caterpillar was firing 20,000 people. THat is a shit load, and considering the sector they are in: this is very bad long term news for us! That means that all construction of any magnitude globally is not going to be happening for a few years....... (I would guess) :(
Starbucks is planning on closing down locations and laying off people any day now.
It sux that while everything is prosperous, they pocket their profits.. When times get tough, instead of dipping into that profit a little bit to feed back in to the business and support the staff, they just fire a bunch of people to protect their horded profits... That is the sad part, use the workers to make money, fire the workers to keep the money... That's the one and only HUGE problem with the system that makes it suck, none of the boardmembers or mega rich are prepared to give up any of their stash to keep people employed and keep a business on it's scale until economic bumps are ridden out... They keep it safe, and fire who they will to make sure not a cent of it leaves their pocket... The funny thing is, it's all that money they have hidden away instead of it being put back into the economy that is the reason the economy crashes..
In fact in my other thread I had the figures wrong.. I said that top 1% has more than the other 50% of wealth.. That's wrong.. The top 1% has more than the other 90%!! If that money was in the hands of the 90%, it would be being spent.. Instead it's in the hands of the 1% who have it kept away, growing and growing exponentially without it ever actually materially benifiting the cycle of things..
The most unbelievable of all the figures is the richest 400 families in America, ONLY 400 families, own 1.4 trillion dollars!!! Even a portion of that pumped back into spending and ecomony would do wonders...
In times of desperation, the mega rich should give up some of their wealth to support workers that helped make them the money in the first place.. So their wealth will go from 10 billion to 8 billion, they have done a GREAT thing for 1000's of people, and it helps the economy get back onto it's feet.. But how many people of you heard of that get to the top and are prepared to do that?
Also not sure if you guys read or saw this on the news but it so happens that we might get IOUs from the state this year for our tax refunds.
Wonder if my girl (who usually pays) can do the same and send them an IOU?
:thinking2:
Oh, it's not all bad then. A ray of sunshine in an otherwise gloomy dayQuote:
Originally Posted by CutMeMick
If there will be one good thing to come out of all this it'll be people realising that more than 15 pence for a cup of water with the faintest aroma of coffee in it might just not be worthwhile. No amount of pretentious shitty names for the same product will be able to disguise it.
I am in the construction industry and my business went in the toilet 2 years ago. About the same time I started working for banks on foreclosed properties. Now I am busier than ever. It's really sad but it's terrible and going to get MUCH worse. I know the numbers for projected foreclosures and this is from the drop off 2 years ago. The people going out of work, and businesses shutting down now will hit in the next 1-2 years and there's more now than then. It's dominoes and it's gonna be really ugly and take a long time to recover, don't believe the hype about a recession. We are 2 years into a recession not 1 and we are entering a depression.
It will be nation wide also. We are soon to have some food shortages due to lending issues and crop insurance for farmers. Also they lost alot of crops last year because of rain and a propane shortage in the farming states at harvest time. We are in for hard times.
Unfortunately our supposedly elected leaders are making the problem worse rather than fixing it. Instead of addressing and fixing the problems they are putting duct tape on it again and it's not gonna hold. We still have the baby boomer retirement problem which will bk social security in less than a year and the baby boomers losing half their retirement money from the stock crash, forcing them to work longer, keeping the jobless rate higher. It's bad news.
By the way Cali is broke. We are getting IOU's for tax returns and they need to find 20 billion in the next month.
Here's how bad its gotten,state employees have started recieving IOU's instead of their normal paycheck
Well I just read today that Boeing is laying off some 4,500 employees.
Ouch... So much for the Aerospace business being in the clear.
Restaurants are in bad shape, ours is staying afloat though and isn't in a whole lot of danger of going out of business any time this year, it needs to pick up eventually.
This song is great though.
my bitch say she want mr. chows, i turned around and looked at her, like bitch how
http://www.youtube.com/watch?v=1uoUkYRTNJM
Ok I admit I'm as thick as pigshit when it comes to the economy but I've never understood it.
I mean how can the world suddenly go into recession? Short of money just print more. I know there's a reason why it doesn't work like that but like I say I don't understand it.
Money is a sense doesn't exist anyway it's just a way to set a value to items to faciliate barter and trade, I don't understand how it can get all of kilter sometimes and can't be corrected with a couple simple recalculations or something.
It seems like modernisation and beureucracy complicate matters.
I can't envisage the native American indians for example having a sea shell crisis or the value of beads dropping against the value of buffalo horn? :confused:
Does anyone understand the economy and can explain this in idiot terms?
well, just printing and issuing money would mean you would have more money around without a corresponding increase in productivity. So there is more money chasing the same amount of goods and services, demand increases, supply doesn't, people selling the goods and services tend to jack up their prices, and you get high inflation.
Yeah I kind of understand but why is the productivity down in the first place? I mean what is causing there to be a lack of supply, is it because of a lack of money or a lack of resources like oil and shit?Quote:
Originally Posted by CGM
I don't think the problem is the money supply per se. Companies typically need to borrow money in order to finance new production and create jobs. If credit becomes tight, and companies can't borrow, or if borrowing becomes too expensive, then people start losing their jobs., production sags, etc.Quote:
Originally Posted by BilboYeah I kind of understand but why is the productivity down in the first place? I mean what is causing there to be a lack of supply, is it because of a lack of money or a lack of resources like oil and shit?Quote:
Originally Posted by CGM
But then you have something new to question. What cause credit to be tight? Where it all starts is not clear, although I'm pretty sure there are some here who think they have the answers. Just get ready to sift through the political rhetoric.
Anyways my little adhoc analysis is somewhat simplistic, but it's not too far from the truth.
A very key part of the picture, and one that is perhaps difficult to predict or control, is how people feel about the economy, how confident they are about the future, etc.
We've offshored everything that can be offshored,and the income ratio gap between the haves and have nots has grown to its highest level since the Great Depression.
Notice what happened the last time the gap was that high
To me in short the economy is like this.
Supply & Demand
It's that simple.
Quote:
Originally Posted by Bilbo
Here's the simple explanation. Our money supply has interest added to it's original creation. Example......
4 guys playing monopoly.
1 banker lends 1,000 to each of the 4 but requires them to pay back 1,100.
Problem..... there's more money owed than exists. Someone is always stuck owing and can't ever repay. 4400 owed but only 4000 on the table.
It's like musical chairs and we have alot of players with only a few chairs. The interest payments due are exceeding the money supply. It's from greedy bankers getting too much interest. If you buy a 100k house you pay 300k for it. The first 100k pays the builder, realtor, etc. The rest of the money goes to the banks. The leaches have gotten bigger than their hosts.
Quote:
Originally Posted by Bilbo
..... not sufficiently ;D
I used to have some issues with money that i eventually figured was holding me back some. I used to think money was the root of all evil,cause i got taught that from an early age. :mad: dicheads.
But its not the root of all evil, people wanting to have power over others is.
So now I think of money as being an energy storage unit that we simply swap around between ourselves instead of having to physically pay someone back immediatley and now there is plenty of stored energy for everyone.
(specially me).;)
Thats a great analogy.Quote:
Originally Posted by luvfightgameQuote:
Originally Posted by Bilbo
Here's the simple explanation. Our money supply has interest added to it's original creation. Example......
4 guys playing monopoly.
1 banker lends 1,000 to each of the 4 but requires them to pay back 1,100.
Problem..... there's more money owed than exists. Someone is always stuck owing and can't ever repay. 4400 owed but only 4000 on the table.
It's like musical chairs and we have alot of players with only a few chairs. The interest payments due are exceeding the money supply. It's from greedy bankers getting too much interest. If you buy a 100k house you pay 300k for it. The first 100k pays the builder, realtor, etc. The rest of the money goes to the banks. The leaches have gotten bigger than their hosts.
Hell interest is like around a percent or two ????
Try living in Hawaii, Everything has to be shipped over here so everything is more expensive, The unemployment rate is highest it has ever been. People foreclosing on their houses, cars getting repoed.
And on top of that, I'm white living here....Which sucks, The locals call us Haole, Which in my mind is equivalent in calling a black a nigger. The blacks have it just as bad, They call them Papolo. They say we took their land an such, Hell even the filipinos, Japanese get in on us. And the filipinos, micronesians are coming over here getting free medical and college loans and people wonder where the social secrurity is going. I hate how people can move over here and start collecting SS when Americans have been paying for that shat for generations. Lol the Japanese even bombed this place and they dont get shat said about it.
Well, Atleast I work by myself and my wife has a solid paying job and my kids go to good schools. I just cant wait to move back to the mainland. But there are a lot good people over also, I just wish it was better. Haha It's like living back home in Alabama back in the 60's. Which was a fucked up time period.:-X
One more thing. the gas is 4.35 a galQuote:
Originally Posted by CountryBoy
Right on. It's the love of money as the root. Money should be a tool like a system of measurement. Nobody owns the metric system, you don't have to give up a piece of whatever you measure with it. Money has been hijacked and has private ownership.Quote:
Originally Posted by Andre
The idea of money is converting an exchange of energy, making the barter system usable. I could only trade with some people for a certain item so many times. The big problem is the interest on the actual existence of the money. It spoils the whole system and causes inflation. This was the real source of the Civil war, fighting over the central banking system and who controls it. Unfortunately the wrong side won. It wasn't about black slavery, it was about everyone becoming slaves. We lost that one and have masked it as a win for freeing slaves. :confused:
More bad news.....
California Crisis Deepens- Are other states to follow?
California Crisis Deepens - Are Other States To Follow? - Yahoo! Finance
And more..... this is where it gets real ugly. At the same time the job market is shrinking the work force is growing. Because people can't retire or will lose their retirement they stay in the work force...
California Pension Funds Close To Bankruptcy.
And guess what other states are getting close???? All of them...
46 Of 50 States Could File Bankruptcy In 2009-2010 Freedom Arizona
Once upon a time a man appeared in a village and announced to the villagers that he would buy monkeys for £10 each.Quote:
Originally Posted by Bilbo
The villagers, seeing that there were many monkeys around, went out to the forest and started catching them.
As they were simple villagers in the mold of Kid Thunder, they had to borrow £2 per monkey from the man to get cages to transport the monkeys to him, as they had never done this before.
The man bought thousands at £10 and, as supply started to diminish, the villagers stopped their effort. He next announced that he would now buy monkeys at £20 each.
This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished even further and people started going back to their farms. The offer increased to £25 each and the supply of monkeys became so scarce it was an effort to even find a monkey, let alone catch it!
The man now announced that he would buy monkeys at £50 each! However, since he had to go to the USA on some business, his assistant would buy on his behalf.
In the absence of the man, the assistant told the villagers: "Look at all these monkeys in the big cage that the man has already collected. I will sell them to you at £35 and when the man returns from the city, you can sell them to him for £50 each." The villagers rounded up all their savings and bought all the monkeys for 700 billion pounds. The expected profits windfall caused the richer villagers to buy the monkeys from the other villagers for £40 as they thought the man would give them £50.
So confident were they that they went out and secured further loans on the non-existent £10 per monkey. They invented a word with big juju for this .... they called it 'equity'
The debt owed on the monkeys was therefore more than the monkeys were actually worth. The chain of debt is so complex that most people owe money without actually owning anything at the end of it.
The man came back, announced he would not be buying any more monkeys and pointed out that not a single villager had actually repaid the initial £2 loans for the cages. The assistant informed the shell-shocked villagers that they all owed him £35 per monkey.
= our current situation ;D