What is truth?

Posts tagged ‘California’

April Employment (US)

 

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The US employment numbers came out this morning, and they were disappointing. But disappointing does not begin to describe the situation I read about today in Europe. I have just finished up with my conference in Carlsbad, California and am getting back to the room late. I have to get up in a few hours (4 AM is rather obscene) to fly to Tulsa to see my daughter graduate from university, but wanted to drop you a note as I normally do on Friday night. But given the time and the need for some sleep, tonight I will draw your attention to the writing of a few friends and some of the more interesting charts I saw at the conference. It will be a shorter letter than usual, but we will uncover a few real nuggets; and next week I will be back to a more normal writing schedule

full article at source: http://www.johnmauldin.com/frontlinethoughts/?utm_source=newsletter&utm_medium=email&utm_campaign=frontline#april

Yes, tax the Super Rich. Tax them now.

SAN LUIS OBISPO, Calif. (MarketWatch) — Yes, tax the Super Rich. Tax them now. Before the other 99% rise up, trigger a new American Revolution, a meltdown and the Great Depression 2. Revolutions build over long periods — to critical mass, a flash point. Then they ignite suddenly, unpredictably. Like Egypt, started on a young Google executive’s Facebook page. Then it goes viral, raging uncontrollably. Can’t be stopped. Here in America the set-up is our nation’s pervasive “Super-Rich Delusion.” U.K. workers protest turns violentA splinter group is blamed for smashing windows and attacking police vans as tens of thousands march against government cuts. We know the Super Rich don’t care. Not about you. Nor the American public. They can’t see. Can’t hear. Stay trapped in their Forbes-400 bubble.

read the rest of this article at source :http://www.marketwatch.com/story/tax-the-super-rich-now-or-face-a-revolution-2011-03-29

This call would never be considered here in Ireland .But we will get to this stage a lot sooner if the government continue to pour the rest of our national wealth down the toxic toilets that are our banks .

On the Edge with Max Kaiser-Revolutions and Economy-02-11-2011-(Part1)

Freak diversion of the jet stream ?

How a freak diversion of the jet stream is paralysing the globe with freezing conditions

By Niall Firth
Last updated at 12:53 PM on 22nd December 2010

The freezing conditions that have blasted Britain are being blamed on a series of weather patterns that are bringing Arctic temperatures to much of western Europe, California and even Australia.

One of the main factors is a change in the position of the jet stream – the fast-moving current of air that moves from west to east, high in the atmosphere.

Changes in the jet stream’s path can cause massive changes in weather conditions across the globe and may be why Australians are now shivering their way through summer and the current freezing conditions in California.

In a normal British winter – when conditions are mild and soggy – the jet stream lies over northern Europe, at an altitude of between 35,000 to 50,000 feet.

Daily mean temperature anomalies around the world between 1st December and 20th DecemberDaily mean temperature anomalies around the world between 1st December and 20th December compared with the 30 year long term average between 1961 and 1990

During these grey winters, Britain’s prevailing winds come from the west and south west, and bring with them warm and moist air from the sub-tropical Atlantic.

This year a high-pressure weather system over the Atlantic is blocking the jet stream’s normal path and forcing it to the north and south of Europe.

The areas of high pressure act like stones in a stream – blocking the normal flow of milder air from the west and instead forcing colder air from the north down across the UK.

In California more than 12 inches of rain has fallen in parts of the Santa Monica Mountains in the south and 13 feet of snow has accumulated at Mammoth Mountain ski resort.

And Australians expecting to bask in early summer sun this Christmas are instead shivering as icy gusts sweeping up from the Southern Ocean have blanketed parts of east coast states New South Wales and Victoria with up to four inches of snow.

When the jet-stream is blocked by high pressure it dips southwards and lets freezing air flood in from the Arctic regions.

A swan tries to break free of the ice on the frozen lake at the Fairburn Ings Bird Sanctuary near Castleford, as the deep freeze in the UK continuesA swan tries to break free of the ice on the frozen lake at the Fairburn Ings Bird Sanctuary near Castleford, as the deep freeze in the UK continues

 

Australia.jpg
California.jpg

Snow and ice covering buildings at Mount Hotham as snow fell in Australia, left, while parts of California, right have been swamped with rain and inches of snow

Other weather patterns are also causing havoc across the may also be affecting the weather, such as the current in the tropical Pacific Ocean, called La Nina, which is disturbing the jetstream over the north Pacific and North America.

A combination of our usual wet Atlantic weather systems striking these freezing cold fronts results in huge amounts of snowfall – and brings Britain grinding to a halt.

A Met Office spokesman: ‘The problem is we are not getting the warmer Atlantic air that normally keeps our winters mild.’

‘We can see that it is unseasonably warm over Canada and Greenland, this is where warm air has been diverted.’

He said that any change in the pressure over the Atlantic would need to last for several days before we would notice any change in the weather in Europe.

Freezing-cold winters and milder winters tend to cluster in groups, as the jet stream changes its path.

Experts are still unsure why this is but suspect it may be related to the EL Nino weather system as well as changes in sea temperatures and solar activity.

A system of high pressureA system of high pressure has forced the jet stream further south, allowing biting cold winds in from the north

Read more: http://www.dailymail.co.uk/sciencetech/article-1340436/Why-cold-warm-Greenland-Diverted-jet-stream-letting-icy-blast-Arctic.html#ixzz18xnOZKWA

We are been lied to by the Central Bank and the CSO

I see California Governor Arnold Schwarzenegger declared a state of emergency over the state’s finances on Wednesday last , raising pressure on lawmakers to negotiate a state budget that is more than a month overdue and will need to close a $19 billion shortfall.
The deficit is 22 percent of the $85 billion general fund budget the governor signed last July for the fiscal year that ended in June, highlighting how the steep drop in California’s revenue due to recession, the housing slump, financial market turmoil and high unemployment have slashed its personal income tax collection.
So far I could be talking about Ireland but for one vital difference Schwarzenegger does not dance around the issues, he can’t afford to because of the effectiveness of the opposition. The fiscal facts are made known to all political parties and they have to come up with real solutions or face the people who are notoriously unforgiving
The yanks have no time for waffelers, gombeenmen and crooks unlike here in Ireland we are it seems are to be saddled with them !
I am indebted to Dr.Constantin Gurdgiev for having provided this excellent article on the subject
We are not been told the full facts of our financial situation and a lot more pain is on the way
We are been lied to by the Central Bank and the CSO who have a vested interest in talking up our economy

Thankfully we live in the age of the Internet and the real figures cannot be kept hidden from the people

Source http://trueeconomics.blogspot.com/
Last week the State of California declared official emergency in relation to its fiscal shortfall. The problem, you see, is that torn between various vested interests, California’s legislature is unable to approve a new budget for 2011. The State deficit is currently running at $19bn, which represents 22% of the general budget fund. As a part of emergency declaration, Governor Schwarzenegger ordered three days off without pay per month beginning in August for tens of thousands of state employees to preserve the state’s cash to pay its debt, and for essential services. Now, 3 days out of each month represents roughly speaking a 14% straight cut across all lines of wages, pensions liabilities, overtime etc. A bit more dramatic than Irish Government 2-year old programme of cutting PS pay by an average of 5-7%.

May be the depth of California’s crisis is that much (say 2.5 times?) deeper than the fiscal crisis in Ireland?

Well, let’s compare, shall we? To do so, I took budgetary projections (latest available) for California and Ireland and put them side by side. I computed the extent of expected and planned deficits in both locations as a share of the net Government expenditure.
It turns out that in its state of emergency, ‘insolvent’ California is not 2-3 times worse off than Ireland. It is the ‘turning the corner’ Ireland that looks 1.5 times worse off than California. And not just now – all the way through the next 4 years.

So California – its Governor and Legislature – are at the very least trying to work through the summer to hammer out some sort of a resolution. Our own legislators and Government are out to enjoy a spot of recreation. And why not, you may ask, if the economy has finally turned the corner… err… sort of… for the 15th time since May 2009 that is…

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