How Bad Are Things in California?

[X]

Starbucks is planning on closing down locations and laying off people any day now.

Oh, it's not all bad then. A ray of sunshine in an otherwise gloomy day

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.

[luvfightgame]

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.

[Trainer Monkey]

Here's how bad its gotten,state employees have started recieving IOU's instead of their normal paycheck

[CutMeMick]

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.

[amat]

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

[Kev]

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?

Does anyone understand the economy and can explain this in idiot terms?

[CGM]

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.

[luvfightgame]

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?

Does anyone understand the economy and can explain this in idiot terms?

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.

[X]

and can explain this in idiot terms?

..... not sufficiently

[X]

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?

Does anyone understand the economy and can explain this in idiot terms?

Once upon a time a man appeared in a village and announced to the villagers that he would buy monkeys for £10 each.

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

[CountryBoy]

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.

[CountryBoy]

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 it equivalent is calling a black a nigger. The blacks have it just has bad, They go 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.

One more thing. the gas is 4.35 a gal

[luvfightgame]

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