[peterb]

It’s a classic credit bubble deflating. Except this time, we have a historically gigantic public and private debt ratio to deflate. These things take many years to unwind. 11% of the population now recieves food stamps. U-6 unemployment is in the 20% range for the state and now the nation.

Global economic contraction is firmly in process now. But we’re also a very large welfare coutry now and will probably become more so in the future. I doubt there will be devistation, but the standards we’ve grown used to in the last 30 years are going to be for only the top few percent to enjoy.

[peterb]

It’s a classic credit bubble deflating. Except this time, we have a historically gigantic public and private debt ratio to deflate. These things take many years to unwind. 11% of the population now recieves food stamps. U-6 unemployment is in the 20% range for the state and now the nation.

Global economic contraction is firmly in process now. But we’re also a very large welfare coutry now and will probably become more so in the future. I doubt there will be devistation, but the standards we’ve grown used to in the last 30 years are going to be for only the top few percent to enjoy.

[peterb]

It’s a classic credit bubble deflating. Except this time, we have a historically gigantic public and private debt ratio to deflate. These things take many years to unwind. 11% of the population now recieves food stamps. U-6 unemployment is in the 20% range for the state and now the nation.

Global economic contraction is firmly in process now. But we’re also a very large welfare coutry now and will probably become more so in the future. I doubt there will be devistation, but the standards we’ve grown used to in the last 30 years are going to be for only the top few percent to enjoy.

[peterb]

It’s a classic credit bubble deflating. Except this time, we have a historically gigantic public and private debt ratio to deflate. These things take many years to unwind. 11% of the population now recieves food stamps. U-6 unemployment is in the 20% range for the state and now the nation.

Global economic contraction is firmly in process now. But we’re also a very large welfare coutry now and will probably become more so in the future. I doubt there will be devistation, but the standards we’ve grown used to in the last 30 years are going to be for only the top few percent to enjoy.

[peterb]

Crammer, the contrarian indicator. If you think things arent about to get a lot worse for the economy, take a quick read from Nate’s latest analysis:
http://economicedge.blogspot.com/2009/06/st-louis-fed-latest-monetary-trends.html

[peterb]

Crammer, the contrarian indicator. If you think things arent about to get a lot worse for the economy, take a quick read from Nate’s latest analysis:
http://economicedge.blogspot.com/2009/06/st-louis-fed-latest-monetary-trends.html

[peterb]

Crammer, the contrarian indicator. If you think things arent about to get a lot worse for the economy, take a quick read from Nate’s latest analysis:
http://economicedge.blogspot.com/2009/06/st-louis-fed-latest-monetary-trends.html

[peterb]

Crammer, the contrarian indicator. If you think things arent about to get a lot worse for the economy, take a quick read from Nate’s latest analysis:
http://economicedge.blogspot.com/2009/06/st-louis-fed-latest-monetary-trends.html

[peterb]

Crammer, the contrarian indicator. If you think things arent about to get a lot worse for the economy, take a quick read from Nate’s latest analysis:
http://economicedge.blogspot.com/2009/06/st-louis-fed-latest-monetary-trends.html

[peterb]

The tax break that congress gave the average couple of $500K tax-free cap gains on the sale of their personal residence was a huge gift to the people of CA. This made buying and selling every 2 years since the mid 1990’s, very lucrative.
The party is over for a while. And they’ll probably recind the tax break. Great while it lasted, though.

[peterb]

The tax break that congress gave the average couple of $500K tax-free cap gains on the sale of their personal residence was a huge gift to the people of CA. This made buying and selling every 2 years since the mid 1990’s, very lucrative.
The party is over for a while. And they’ll probably recind the tax break. Great while it lasted, though.

[peterb]

The tax break that congress gave the average couple of $500K tax-free cap gains on the sale of their personal residence was a huge gift to the people of CA. This made buying and selling every 2 years since the mid 1990’s, very lucrative.
The party is over for a while. And they’ll probably recind the tax break. Great while it lasted, though.

[peterb]

The tax break that congress gave the average couple of $500K tax-free cap gains on the sale of their personal residence was a huge gift to the people of CA. This made buying and selling every 2 years since the mid 1990’s, very lucrative.
The party is over for a while. And they’ll probably recind the tax break. Great while it lasted, though.

[peterb]

The tax break that congress gave the average couple of $500K tax-free cap gains on the sale of their personal residence was a huge gift to the people of CA. This made buying and selling every 2 years since the mid 1990’s, very lucrative.
The party is over for a while. And they’ll probably recind the tax break. Great while it lasted, though.

[peterb]

Look at the graphs. Spending is exactly the problem. State and locally. Parties over. Tax revenue is falling off a cliff. They will try to change this regardless of the economic contraction we are now experiencing.

Pandering to unions with jobs and comp package increases can no longer be done. And the private sector does not want more taxation. I’d say the politicians in office right now will have a hard time getting re-elected in the next round.

[Author]

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