State’s economy remains mired

September 21, 2012

A declining rebound of California’s economy is being predicted by the UCLA Anderson Forecast, with fiscal situations on other continents given as the primary reason. (San Jose Mercury News)

China’s economic tumble, Europe’s recession and the slow U.S. recovery have caused the respected forecast to revise predictions from just three months ago, which called for a stronger state rally. Among the group’s prognoses is a stagnant unemployment rate which will continue to hover near 10 percent.

But the outlook is not all bleak. Metropolitan areas like San Francisco-San Mateo, and tech regions like the Silicon Valley, are posting the fastest rate of annual employment growth in the country.

“This tech surge is real,” said John Silvia, chief economist for San Francisco-based Wells Fargo Bank. “People are spending money on smartphones, on tablets, on iPads, on equipment to interact and communicate with each other.” Economists believe the technology boom won’t vanish anytime soon.


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8 Comments

  1. justme says:

    QE3, $50 bil.a fricken month of additional debt with interest for us while Goldman Sachs gets the pure tax free money. WE will pay it back with our “hard earned”. But pay what back? It’s was merely a computer entry by the counterfeiting Fed. theives??

    This scam is merely a continuation of their own bank bailouts, assurance they can continue to steal and enslave us. Their answer is to just continuously bleed us monthly now to prevent another collapse (they caused) by a steady transfusion of our money going to mostly offshore banks.
    Ben Baby must listen to his Money Masters in NYC and Europe and they told him they want MORE MONEY!!

    There is no recovery and there is no real power in a President or Congress, they are only the world’s power elite’s “delivery devices” for the real power in this world of asses, Banksters, Wall St., Financiers, etc.

    But of course CA’s economy is shot, while the Chinese work their buts off making N-E-C-E-S-S-E-T-I-E-S and Brazil enriches by pouring lumber, oil, minerals, food, etc. into the world markets, we got yer nerdy crapola to oogle at while half of us sit on our asses.
    Isn’t it wild how we continually invent more and better communication devices but these devices never communicate any basic overwhelming, elephant in the room truths?
    Dem, Repub, Obama, Mitt…..Just like the new gadgets, just diversions.

    And isn’t it wild how Ron Paul isn’t going to be the President after informing us what exactly is going on?
    It just was too much, too soon for our media-dumbed down brains.
    What’s the name of that disease that makes people fall asleep at any time? Oh Yeah, the Media.
    Wakeup Gang.

    (7) 7 Total Votes - 7 up - 0 down
    • kayaknut says:

      Another reason not to re-elect anybody, if they currently hold an office then they allowed this to happen and need to be told to find another line of work. Goodbye to all incumbants of all parties.

      (8) 8 Total Votes - 8 up - 0 down
      • The Gimlet Eye says:

        Maybe city gov in SLO should just go on holiday-will a year do? Three? Five?

        (1) 1 Total Votes - 1 up - 0 down
  2. r0y says:

    Whenever people are willing to have “that adult conversation” this is usually the result (sugar-coated).

    I do not understand how QE3 can come out without any end defined and NOT have anyone with 1/2 a braincell worth of intelligence concerned.

    Seems all the central banks are beginning to panic. I must wonder: what is California’s plan for world-wide economic collapse? How are we going to pay the good folks who run the power and water and farms (aka the necessities) when the dollar collapses further? Or will milk just continue to go up $1… $2… or more per gallon every six months or quicker?

    Remember when we cried about gas being TWO dollars a gallon? Or when we could get 8 oz. (not 6) of yogurt for $0.50 or less? Yeah, those were the good old days.

    Think we’ll ever see a $10,000 bill? Who’s face will be on that? Bernake’s?

    (8) 12 Total Votes - 10 up - 2 down
  3. The Gimlet Eye says:

    There is no legitimate reason for this to be happening. This is economic sabotage.

    (3) 9 Total Votes - 6 up - 3 down
  4. Paso_Guy says:

    The states mired economy is the greatest slow-growth apparatus ever concieved.

    Who does one thank for that?

    (24) 24 Total Votes - 24 up - 0 down
    • isoslo says:

      The democratic legislature

      (16) 24 Total Votes - 20 up - 4 down
      • Mike says:

        Don’t forget to thank the voters that put them there.

        (1) 1 Total Votes - 1 up - 0 down

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