Commercial Real Estate, Construction and Finance Employment: How Commercial Real Estate will drag the California Economy Deeper into Recession. 32 Percent of California Construction Jobs Gone.
California is heavily dependent on real estate. That should be of little surprise to you but many have a hard time understanding how devastating the housing crash is to employment in various sectors. California for 30 years relied on housing even though in many years, it was in a bubble. That is why in 2009 […]
Financial Brinkmanship: Forcing Americans to Spend and Discouraging Savings. Americans Decide to Save Forced by a New Austerity. Banks Offering Zero Percent on Your Savings Account.
Spending more than you earn is a financially devastating recipe for individuals and nations. I’ve read countless pop financial books on how to gain and sustain wealth and those that have any substance always emphasize saving your money, spending less than you earn, and being prudent with your funds. In no book did I ever […]
California Budget Miscalculation: The $60 Billion Budget Gap. Cargo Levels near Decade Lows. Why the Financial Recovery will come last to California.
The largest singular economy in the United States is still facing a fiscal mess. California is still trying to grapple with the budget deal that is now in place. The challenging part seemed getting a budget passed but the more challenging aspect of the budget process is enacting the $26 billion in fixes. Over the […]
The End of the Peak Credit Era: 3 Quarters of Contracting Consumer Debt. Credit Card debt Contracts on a Year over Year Basis for First Time Ever.
There is a small silver lining in the unemployment report released on Friday. The positive side was the amount of people being fired slowed down in July (if you can call an annual rate of 3 million layoffs positive). However, there is still a major reluctance for firms to hire. We still have 26,000,000 unemployed […]