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Home › Forums › Financial Markets/Economics › How severe will the impact of #48 be on the fragile Real Estate Market › #48 being the predicted 48th

May 13, 2012 at 7:27 AM #743706
EconProf
Participant

#48 being the predicted 48th recession in our country’s history.
Well, Paramount, I wouldn’t bet on a recession. But I wouldn’t bet against it either. Hopefully we’ll keep on with our weak recovery and pray europe doesn’t emplode.
More immediate is the future of the CA economy and fiscal problems. Gov. Brown just announced our deficit jumped from his $9 billion prediction last January to $16 billion. Tomorrow, Monday, he’ll give a speech arguing for higher taxes on Californians.
Yes, that’ll fix it. The investors, job creaters, and manufacturers will really want to come to CA then.
We also need high speed rail to attract these taxpayers. And we need to bump up our share of the nation’s welfare population from 32% to 40%. And we need to raise public sector pay and pensions and let them retire earlier. Governor Brown and the CA legislature surely know what’s best for us.