Hell…Even the Wacko Liberal Nuts at the Center on Wage and Employment Dynamics at Cal – Berkeley Know the TRUTH That the Economy of the Broken State of California Is A….DISASTER! – Of Course, the Wacko Liberal Nuts At Cal – Berkeley Want Even MORE Spending, MORE Regulations, and MORE Taxes on People and Businesses and That Has Been Working So Well For the Broken State It Should Work This Time As Well….Right?…..HAH! – Here’s A Thought for the Wacko Liberal Nuts: Reform the Tax System, Toss Out Tens of Thousands of Bogus Regulations Now in the Nanny State From Hell and Quit Waging a War On The People and Businesses In the State of California – Oh, the Wacko Liberal Nuts Rather Like Waging An All-Out War on the People and Business? – Yes, You Are Right About That! – Watch Out Below Because the WORST Is Still To Come In the Broken State Because Just Wait Until All Those Public Employees Start Retiring In Massive Numbers in the Coming Years….Can You Say MEGA-DISASTER? Why Yes We Can!
Although the Wacko Liberal Nuts working at the Center on Wage and Employment Dynamics at the University of California – Berkeley are out of touch with reality when it comes to figuring out how to save the Broken State of California from ruin they at least know a Disaster when they see it and the economy of the Broken State of California is right now and has been for years a BIG Disaster.
The Center on Wage and Employment Dynamics at Cal –Berkeley is out today with a new report on the California economy….
…and it paints a Very Damn Ugly picture of the California economy and the state of jobs…or rather lack of jobs and job growth in the Broken State.
“Recent news on the economy seems erratic and confusing. Is the economy improving, or is it still stuck in the “Great Recession” rut? Well, as any good economist would say, “it depends”—in this case on one’s vantage point. The good news is that the economy that officially came out of recession in June 2009 is growing again; the bad news is that only a few are benefiting from this growth. Our colleague Emmanuel Saez recently analyzed how the expanding economic pie in 2009 and 2010 was divvied up. He found that 93% of the economic gains went to the top 1% of Americans—which is not indicative of a broadbased recovery. It also affirms the continuation of long-term trends of increasing inequality. Today, far too many of California’s workers and their families are stuck in the harshest job market since the Great Depression. The economic scarring on families and communities is incalculable given the length and depth of the downturn. And, as the Dow flirts with 13,000, the Wall Street-Main Street divide looms as large as ever.
Last December marked four years since the start of the Great Recession. While recent monthly data show a welcome improvement in the jobs picture, the United States and California have only just begun the long road to recovery. In this brief we evaluate how California’s economy is faring on jobs, wages, and income growth since the start of the recession in December 2007 using newly revised state jobs data from the Bureau of Labor Statistics.”
Well, we would have to agree with most of the above on the state of the California economy and here are the highlights of the “Disaster” report:
“A huge deficit in jobs still exists compared to pre-recession levels. Overall the U.S. is down 5.3 million (-3.8%) and California is down one million—a very large decline of 6.6%—leaving the number of jobs in the state the same
today as it had back in 1999.
Indicators of labor demand are at critical levels and have shown little improvement:
The unemployment rate in California has been in double digits for more than three years and is expected to stay there through 2013.
The underemployment rate (which includes discouraged workers and part-timers who want full-time work) was 21.1% in 2011 and has not shown any significant improvement over the last three years.
In 2011, 45.6% of the unemployed had been so for at least a half of a year, which was little changed from the 46.1% rate in 2010.
The employment rate continued to fall from 62.2% in 2007 to a record low of 56.0% in 2011. If the rate had not fallen, an additional 1.8 million workers would be employed in California.
The result of such a slack labor market is evident in the loss of wages. Wages for most workers were the same in 2011 as they were in 2000—the only gains were for those in the top third (+9.5% on average) with even larger gains for those in the 90th percentile (+16.3% on average).
Household income has fallen dramatically as well. The decline in household income since 2007—the peak of the last economic expansion—averaged -$3,378 (-6.4%) for U.S. households and $5,362 (-9.0%) for California households. In California, typical household incomes in 2010 were the same, adjusting for inflation, as they were in 1998.
It has been four years since the onset of the Great Recession. If job losses are combined with the growth in the labor force, California’s labor market may be back to its pre-recession level sometime between 2018 and 2023, depending on the rate of job growth.”
Yes….DISASTER is the word for the California Economy and three things that really stood out to us from the above highlights are….
1. The number of jobs in California in 2011 are the same they were in 1999
2. The wages for most workers in California are the same as they were in 2000
3. California’s labor market may not be back to “pre-bubble” levels until 2018 – 2023
No, it is no longer….”California Here I Come”……BUT…..”Get My Ass Out of California As Fast As You Can!”
If you are wondering what happened around 2000 that has caused the California to stall and even go backwards since the four decades after World War II when the Golden State was the engine of the American economy and the home of much of the innovation in America one can look no farther than the FACT that it was in 1999 that the Wacko Liberal and Wacko Environmental Nuts took over the state government in Sacramento with the election of Gray Davis to the Governorship and a series of Democratic state legislative “leaders” over the past decade that not only sold out the People of California to the public employee unions but they also collectively have been the Stupidest People elected to office in the History of Man and Woman on Planet Earth.
Throw in 7 years or so of the Complete Moron Arnold Schwarzenegger as Governor the Broken State who is even a BIGGER Wacko Environmental Nut than many of the Democratic Wacko Environmental Nuts and it makes Perfect Damn Sense that a report about the economy of California in 2012 would be entitled….
Of course, the folks at Cal-Berkeley and the Wacko Liberal Nuts believe the answers to California’s BIG problems is even more government spending and more taxes on anything and everything that moves in the state which has already driven thousands of people, families and businesses out of the state and which as a “plan of action” is both NUTS and borderline INSANE.
If anyone doubts what we just wrote take it from people here at Mad As Hell And… that were not only raised in California but married and had begun to raise our families in the state BUT were forced in the last 10 years because of the actions of the Wacko Liberal Nuts in Sacramento, Los Angeles and San Francisco to uproot our families and move our businesses to other U.S. states where we have found places to live where the state and local government bureaucracy is not always on the Attack against families and businesses but views itself as a partner in making their states a better place to live, a better place to educate children, a better place to raise a family and a better place to run a business.
Very simply….The Government of the State of California right now is conducting a Daily and All-Out Attack on the People and Businesses of California and Governor Jerry Brown and the Wacko Liberal Nuts are ready to Amp-Up that Direct Attack on the People and Businesses of the state with their plan to pass a sales tax and income tax increase on the people of the state which like most of the things these Morons in Sacramento do……
Will only make things WORSE.
Not that Jerry Brown and the Wacko Liberal and Environmental Nuts would give two rips about the hard-working people of the state since their ONLY solutions to the DISASTER that they created in California is MORE Taxes, Regulations and Government Spending, but another former California resident and economist Arthur Laffer has written a book that if followed by the Wacko Liberal Nuts would turn around the Broken State and Joel Fox at Fox and Hounds has Laffer’s story and details on his book:
“Economist Arthur Laffer thinks the way to fix California’s broken economy is to rip out the current tax structure and replace it with a new model for the 21st century. At the request of the Pacific Research Institute, Laffer has written up his proposed solutions in a book, Eureka! How to Fix California.
Laffer’s remedy is to do away with practically all state and local taxes and replace them with a 5.8% flat tax on personal unadjusted gross income with a couple of deductions and a business net sales or value added tax.
Laffer contends such a tax system will be more efficient, eliminate unneeded paperwork, encourage growth and produce the same amount of revenue that all California’s current taxes produce. (He makes an exception for sin taxes, which he argues are in place to modify behavior rather than to raise revenue.)
Laffer says California’s highly progressive tax code is “driving California progressively broke.””
Yes, Arthur Laffer is Oh So RIGHT about how to fix the DISASTER that is the state of California which is very simple LOWER TAXES, LESS REGULATIONS, CALL OFF THE ATTACK ON THE PEOPLE AND BUSINESS, but there is NO chance that Jerry “I love destroying average Californian families as I funnel Billions to Public Employee Unions that have purchased me Lock, Stock and Barrel” Brown or the Wacko Liberal Nuts in Sacramento would implement any kind of substantial tax reform, roll-back the tens of thousands of Bogus and Useless regulations or pair back the $10 Plus Billion Dollars Plus in Annual Bogus government spending in the state because in FACT Brown is now campaigning to add to all THREE!
Yes, Stop the Damn Madness!
Yes, anyone with a lick of Common Sense will….
GET THE HELL OUT of California!
…because the coming decades will only be much worse as the Hundreds of Billions of Dollars in unfunded mandates for public employee pensions and health care costs will force local and the state governments in California to impose ever higher taxes on hard-working families and businesses and thus the Broken State is now on a never-ending spiral into a Black-Hole Disaster that will lead to a Disaster for America as well just like the Wacko Liberal Nuts of Europe, the Greeks, have almost brought down the entire European continent and the Euro.
Here’s the thing though….
There will be NO BAILOUT of California anytime in the future by the American People and that means anyone that is not a multi-millionaire and thus will be able to at least afford the coming massive tax increases….but will of course just spend less money in the state’s economy and which will only make things worse….that can get out of California should get out of the state….and we mean…
Or stay if you like but sure the Hell don’t come crying to us and say that…
“We were right”
….because we KNOW we were right to leave the Broken State before it completely bankrupted our businesses and undermined our children and families and just think….we are part of that top 5 percent of lucky Americans that are doing well in this economy and one can only imagine and feel Very Damn Sorry for those hard-working Californians and their families/children that are being destroyed by the Wacko Liberal and Environmental Nuts at a stunning rate.
Just for good measure another good read on the Idiocy that is the Broken State of California in the 21 st century is….
Oh, that is great read Ben and Oh so Damn TRUE!