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alstry (36.17)

Hungry Kids in California

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June 23, 2008 – Comments (11)

June 23 (Bloomberg) -- Turning dozens of hungry children away from a free meals program wasn't how Vince Harper wanted to start the summer.

Harper oversees a program in Santa Rosa, California, that provides food to kids during schools' summer recess. More than 90 lined up at a community center on June 9, the first day of the service. Only 50 meals were available.

``It's a terrible feeling,'' said Harper, 41, director of youth and neighborhood services for the Community Action Partnership of Sonoma County. ``You have to tell them to come back tomorrow, and hopefully they will.''

As California schools let out this month, food banks in the state face record demand for free meals from families pressed by food price inflation and economic hardship.

http://www.bloomberg.com/apps/news?pid=20601109&sid=ayjMVLk5GvVU&refer=home

Now those Bloomberg folks are getting a little over the top.  Don't they realize this is America.  Nobody goes hungry in America....especially Sonoma County where Standard Pacific just liquidated its entire remaining inventory in a community in one day at over 40% off.

And some of you think Alstry is extreme? 

What kind of business reporting is Bloomberg writing?  Do they think if people can't eat, they will have a tough time functioning economically?  How far will this go?

11 Comments – Post Your Own

#1) On June 23, 2008 at 6:50 AM, alstry (36.17) wrote:

Both Citi and Goldman laying off 10% of investment banking workforce.

Remember, one layoff can create two unemployed people if the spouse of the released worker is forced to start looking for a job to supplement the family's income.

This is why I am confident we will have well over 20% umemployment by the end of the year.  We are already at 5.5%...over six in a number of areas.  We are seeing entire industries announce reductions of 10%, 20% or more.

My guess is that at least 15% of our population not currently employed or looking for work will be forced to reenter to job market to offset falling family incomes against skyrocketing food and fuel prices.

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#2) On June 23, 2008 at 7:13 AM, Gemini846 (61.93) wrote:

The only job markets I know laying off people are Financial and Construction. (And of course worthless professions like heavy metal manufacturing which needs a heathy death and revamp).

Demand for skilled workers has never been higher. Demand for unskilled garbage jobs that can be done by imigrants and undocumented people for less are seeing cuts. 

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#3) On June 23, 2008 at 7:21 AM, alstry (36.17) wrote:

Finance and Construction directly and indirectly account for over 1/3 of the earnings of the S&P.  As far as other industries such as Airlines and Auto.....I am not sure I would call them worthless.  Now maybe retail and restaurants...but that depends on the quality.  And those tens of thousands of government workers you are not aware of....well that one is definitely open to debate.  And those pharma cutbacks, who need so many sales people with the internet.

So if you think about it..Government, Autos, Airlines, Construction, Banking, Pharma, Restaurants, and Retail are all laying off workers now.

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#4) On June 23, 2008 at 8:23 AM, madcowmonkey (< 20) wrote:

There are so many sides to this debate. I could probably see valid points on both sides, but I am curious if it is a good idea to start people off early in life to learn how to rely on government assistance. 

I read the sites details and it looks a little shaky. They use less documentation for the summer program and make it easier for the kids to come in and get the free food. Not to say none of them really need it, but I am sure some were bringing friends along.

So alstry, I am curious what you do. You write these blogs about how bad the economy is or how bad it will be and I am just curious if you are worried about losing your job or what. 

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#5) On June 23, 2008 at 8:33 AM, alstry (36.17) wrote:

The blogs are simply to provide a perspective.  My guess is that when most of the current bulls become negative, I will likely become positive.

It is just right now I see a very tough and long road ahead.  At this point tough decisions will need to be made.  We have basically too much of too much.

Housing and commercial real estate space are the most glaring.  There is probably close to $20 trillion dollars of debt borrowed against those two assets alone.  $20 trillion of debt is about the value of our stock market.

I blog to stimulate discussion....I am hoping that some of you guys, who are much smarter than me, could come up with some creative solutions.

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#6) On June 23, 2008 at 10:12 AM, wolfhounds (29.15) wrote:

Hey Alstry, I know you have the right to comment on things as you see them. Hell, I fought for that right.  But have you EVER picked yourself up and said  - What can I do to help people I see in such plight?. That's what we Americans are supposed to be so good at. For that matter, have you ever done anything to help your community or serve your country. Right now, the country could use a few good men and women. Can we count on you?

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#7) On June 23, 2008 at 10:13 AM, colonelnelson (44.72) wrote:

Are there no prisons?  No poorhouses?

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#8) On June 23, 2008 at 12:42 PM, madcowmonkey (< 20) wrote:

So what do you do?

I understand why people blog, but sometimes it seems like you spout off the same things every single day. Repeatedly on days. Sometimes when I read your blog and you get to the list of housing, commercial, stores, government,...... I feel like my head spins off and pops into a million pieces. Is that the solution that you suggest for the problem, blogging about it nonstop and striking this unbelievable fear into caps readers. I can see what is going on with the economy and I can count the debt all day long, but it does me no good if I just keep hashing it over. What is your next step after this "crash" comes?

I have creative and concerning discussions with people all over and we discuss how milk, eggs, bread, and gas has doubled for us. I have come up with some solutions for this. Buy local. I buy 3 dozen eggs from the local farmer. I bought a cow and split it with friends for the butcher process. My wife now makes bread or at least tries to:)

My little opinion is that people have become complacent about having certain things provided for them and they pay for it regardless if there is a better deal. When people do come to the realization that there backs are against the wall and it is too late, then they will find a solution. Until then, people will keep doing what they are doing because they don't need to change their ways. I think some of the solutions are easy ones. Some will be very difficult. Most likely, it will be pushed to the last minute. I know, because I am working with people and their debt issues trying to help them resolve them. People are looking for the answer when it is almost too late.

BTW, what do you do? 

 

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#9) On June 23, 2008 at 12:43 PM, madcowmonkey (< 20) wrote:

Hey, I rec'd this for your response. Thank you for not going off on me. I am not trying to be a dic, I just want to have a decent discussion as well. Good luck alstry.

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#10) On June 23, 2008 at 1:24 PM, alstry (36.17) wrote:

I don't take much personally.  I am just here to help accumlate points and maybe give people a heads up for what I see and maybe stimulate some interesting  conversation.  I repeat the same thing day after day because I see the same thing day after day.....and deteriorating.

No one wants the facts to change more than me.

 

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#11) On June 23, 2008 at 2:26 PM, madcowmonkey (< 20) wrote:

Got it thanks.

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