Stacy Summary: Anyone here digitally stoned right now?
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Posted in Headlines
Tagged california, digital high, mayor, second life, virtual townhall
Stacy Summary: You guys have been on such a roll! I’m loving reading all your comments every morning. Some really good stuff. Thanks! For all of our Californians out there, let us know your personal experience of what is happening in the state because the article below paints a pretty bleak picture with, however, a few signs of hope . . . what are you seeing? I might add that Max, of course, has been saying for years that China will buy California.
But the state that was once held up as the epitome of the boundless opportunities of America has collapsed. From its politics to its economy to its environment and way of life, California is like a patient on life support. At the start of summer the state government was so deeply in debt that it began to issue IOUs instead of wages. Its unemployment rate has soared to more than 12%, the highest figure in 70 years. Desperate to pay off a crippling budget deficit, California is slashing spending in education and healthcare, laying off vast numbers of workers and forcing others to take unpaid leave. In a state made up of sprawling suburbs the collapse of the housing bubble has impoverished millions and kicked tens of thousands of families out of their homes.
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Stacy Summary: The fact that television news is not covering the fires in California is part of the trend of all charities needing a more and more famous face to front their campaign. I think it may have started with those cable ads asking you to sponsor a child, but went global with Live Aid. Now even local disasters need a celebrity angle to get coverage. So – any uncovered big stories in your non-celeb neck of the woods?
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Stacy Summary: The interesting thing between releasing prisoners and considering legalizing (in order to tax) marijuana is the same thing happened during the Great Depression. It seems that get-in-your-private business-restrict-all-behaviour sort of snooping moral police state is something that can afford to be indulged during boom times. So the disappearance of this state could be one of the bright things to emerge from this crisis. California, and many other states, have way too many people in prison for minor offenses. Money would be better spent on violent crime control and the much cheaper preventive measures.
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Stacy Summary: Anyone out there able to find ANY real factual headlines that support a green shoots theory? Everything is pretty bleak from where I sit!
Updates:
The move to phase 6 reflects the fact that the disease, widely known as swine flu, was spreading geographically, but not necessarily indicate how virulent it is.
“Phase 6, if we call a phase 6, doesn’t mean anything concerning severity, it is concerning geographic spread … Pandemic means global, but it doesn’t have any connotation of severity or mildness,” WHO spokesman Gregory Hartl said.
“In fact, what we are seeing with this virus so far is overwhelmingly to date mild disease. So we would think that this event is really a moderate event for the time being, because the numbers are high but the disease is overwhelmingly mild,” he told Reuters Television before the committee meeting.
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Stacy Summary: Thanks for all the great comments on yesterday’s headlines entry. @Danny, especially, for choking everyone up with your digital love. Some interesting headlines today continue the theme of the third worldization of Western economies collapsing under the debts of the financial oligarchs, but, alas, there is positive news online where – at least for now – people can escape the politician-footsoldiers of the bankers.
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Rick Ackerman
Karl Denninger – Market Ticker The Big Picture Mish David Morgan King World News SmartKnowledge GoldCore
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