Reply With QuoteAll it says to me is, "imagine how much ass we could kick if we ever got our $hit together".Originally Posted by Rapier55
Well, 90,000 people are going to lose their unemployment bennies in Cali next week, so that should make the state's nearly 12% unemployment figures look much better. Happy days! The economic miracle is alive!
All it says to me is, "imagine how much ass we could kick if we ever got our $hit together".
I've had one decent chile relleno in South Los Angeles. Don't remember the name of the little hole in the wall but I'm all ears for a good spot if you know of one.
From your link it sounds like getting moved off of Fed-Ed is not necessarily a bad thing. Also, will the unemployed become more unemployed?
My question, in business terms, is what is "getting our $hit together?"
Getting out of debt, being more business friendly etc. You know, the opposite of what you're doing that lands you at the #50 position every year, and has businesses bailing.
http://www.nytimes.com/2012/05/13/us...budget.html?hp
California is only 16 billion in debt. Hold on to your butt! It is getting ugly in the golden state.
So basically the nation is only a thousand Californias in debt? SWEET!
Or a decent taco truck....
I will say this, some of California's laws are retarded, I actually bought a place in Nevada after my '04 deployment, unfortunately I can't claim that as my home of record in the cal guard because I have to be a California resident to keep my technician job.
I'm also legally bound to take care of my little brother, because of a binding adoption contract, and he can't move out of the county because of of how the custody was stated.....
Literally I live in the hotel California.....
No, but you wont find a better gyro or hummus in any place still using the empirical system....
Those not receiving unemployment bennies are not counted as unemployed in the U-3 unemployment stats that we always see quoted by the media and politicians. So those long-term unemployed who have exhausted their bennies are not included in that 12% figure. And there are even worse problems with the fedgov BLS statistics. H.R. 4128, the Real Unemployment Calculation Act, would prevent the government from grossly manipulating labor statistics to make themselves look better.
http://www.washingtontimes.com/news/...ployment-rate/
California's U-6 number (total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers) is 20.8% unemployment, which is far closer to reality. But even that does not tell the whole story. There are a hell of a lot of people who were making good money who now have a full-time job or jobs paying far, far less than they made before. That is pretty common in an economically devastated state like California. These people have fallen out of the middle class, and are now working class people struggling to get by and burning through their retirement savings just to make ends meet. What are they going to do when they are too old to work, and have no retirement nest egg left?
What you see here is the real story of Cali's economy. It is not an uplifting tale. It is more of a tragedy.
Last edited by Ought Six; 05-13-2012 at 03:29 PM.
California is a cool place...and it has a culture of technological and social development and early adoption.
California has been like an R&D laboratory in some respects for the country.
And there's a LOT of reasons why that is(or isn't in some peoples minds) which can be debated all day long.
What can't be debated is that California is in serious, serious trouble.
And no matter how much some people like to see California get it's comeuppance and chopped down like a tall poppy, as goes California, so goes the nation in some respects.
It's a rough indicator of the state of the nation.....it has been relatively accurate and true in the past...and I believe it remains so today.
I tend to agree with the likes of folks like Don Valentine....pretty much the grandfather of the Venture Capital industry(at least on the west coast).
He worked at National Semi and Fairchild before starting his VC shop. He and his firm(Sequoia Capital) played a critical role in the development of such names as:
Apple
Atari
Cisco
EA
Oracle
Nvidia
Yahoo
Youtube
....to name just a few.
At one stage the companies his firm helped develop represented 20-25% of the total value of the NASDAQ.
I think along similar lines as Don Valentine in that California and Silicon Valley in particular representing the business/entrepreneurial heart and soul of California...isn't so much a permanently fixed location.
It's a mix of the right people in time and space....and Silicon Valley/California has been that right mix of people/time/space.
If the "smartest people in the room", not just the usual suspects(CalTech, MIT, Stanford, Berkeley, Harvard, Columbia, and Penn), but ESPECIALLY now from overseas in places like India's IIT, continue to flock to Silicon Valley/California then California's future is assured.
Sounds over simplistic, but it's likely true.
Don't follow what the herd are doing......follow what the Alphas are doing...they vote with their feet, talent, and wallet.
Also worth mentioning about the people/time/space of Silicon Valley is it's culture of NOT punishing failure....even repeated failure....entrepreneurial failure in many countries is a death sentence(not literal....but more than just figurative)...repeated entrepreneurial failure in Silicon Valley has been(historically) viewed as an apprenticeship. Learn from your mistakes, step up to the plate again, and swing for the fences again.
Another way of thinking about it is:
Think of the high technically talented, multi-success entrepreneurs, and those individuals with the personal traits(tenacity, ambition, drive, resilience) to better ensure success.
Think of them as a bit like an "economic special force".
They are economic force multipliers.
You can compete without them, but you're far better off with them.
Where Army SF and "economic SF" (<---for lack of a better term) differ is:
While Army SF can reject an unlawful mission, they cannot reject an unworthy mission.
"Economic SF" can reject any mission they feel is unworthy of their team, their personal talent, and their resources.
So California(and the entire US as well) need to create an environment that is worthy of them.
Just one ugly anecdotal indicator...looks at Facebook's IPO...Eduardo Severin, one of the founders and major shareholders of Facebook is renouncing his US citizenship and has shifted to Singapore like Jim Rogers(a fella who has thus far predicted the peak of the US and the rise of China).
I don't know his reasoning and rationale, but would he have done this 10/15 years ago?
No.
Why not?
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