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alstry (35.85)

unemployment FACTS....heating up

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November 21, 2008 – Comments (10)

SACRAMENTO (AP) -- California's unemployment rate jumped to 8.2 percent in October, the highest rate in 14 years, just as a state fund that pays unemployment benefits was about to run out of money.

State officials are preparing to ask the federal government to step in with a loan on Dec. 1 so they can continue paying jobless benefits to California's now more than 1.5 million unemployed, nearly a third of whom have lost their jobs in the last year.

The rate announced Friday by the state Employment Development Department was up from 7.7 percent in September, and from 5.7 percent in October 2007.

Notice the rate of job losses is accellerating.  At this rate of change, we are very very close to 10% unemployment.  You can listen to the pundits trying to give you a false sense of security, or you can analyze the facts.  The choice is yours.

10 Comments – Post Your Own

#1) On November 21, 2008 at 5:14 PM, russiangambit (29.34) wrote:

Here in Houston we are up to 5.4% from 4% last year. Readers of Houston Chronicle are outraged that such a good number as 5.4% is presented as a bad news. They are still on the message that our economy is fundamentally stong. -))

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#2) On November 21, 2008 at 5:33 PM, TDRH (99.67) wrote:

Maybe Texas should cecede from the Union.   Housing prices are much more reasonable in Houston as well.   No state income taxes, property taxes on vehicles. or sales taxes on raw food items.   We could elect Ron Paul as our president and start our own currency. 

 

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#3) On November 21, 2008 at 7:06 PM, biotechmgr (35.51) wrote:

Ron Paul and the Amero...how many dollars per for the exchange rate with USD?

We would need a trade agreement of course, the TAFTA (Texas-America Free Trade Agreement).

The NATO equivalent of our military alliance might be TAFFY (Texas-America Fightin' Fer Y'all)

 The exchange program for troubled assets would be something of real Texas value in the BRAT (BBQ Received for in Assets in Trouble).

It's a whole 'nother country!

 

 

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#4) On November 21, 2008 at 8:21 PM, johnw106 (58.71) wrote:

Texas is and Florida are two of the hand full of states that could pull it off.
I can see a strong alliance between Florda and Texas forming.
Monthly trading of our Mexican workforce to keep the crops picked. Oarnges for cactus buds (tuna in spanish.Very tasty).
Gator tails for Angus steaks. Texas oil in exchange for passes to Disney World and deluxe accomodations at the Magic Kingdom. Heck we will even through in three day passes to Universal studios during the winter months.

Sounds like a deal to me.

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#5) On November 21, 2008 at 10:58 PM, Tastylunch (29.34) wrote:

Not to mention there is hiring freezes as well, Cisco systems reduced the number of job listings for them by 93% since october. That's about 1700 people or so that won't get hired.

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#6) On November 21, 2008 at 11:22 PM, alstry (35.85) wrote:

Three Bank Failures on one  Friday....gonna cost the FDIC billions....what a way to kick off Thanksgiving Week and the Holiday Season. 

I just dumped a few bucks at the track with my brothers and father...my horses were fit for glue.....the first time the four of us have been all together in a while.....despite losing some decent cash.....I was the winner in the end.

My brother in law's father just went into a coma following a stroke.  Both of us are blessed that our dads made it into their eighties. 

As times get tougher.....spend more time with family and friends......it's the best return on time that I can think of......stay focused, stay fun, and fondle your mate as often as you can.

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#7) On November 21, 2008 at 11:22 PM, alstry (35.85) wrote:

Three Bank Failures on one  Friday....gonna cost the FDIC billions....what a way to kick off Thanksgiving Week and the Holiday Season. 

I just dumped a few bucks at the track with my brothers and father...my horses were fit for glue.....the first time the four of us have been all together in a while.....despite losing some decent cash.....I was the winner in the end.

My brother in law's father just went into a coma following a stroke.  Both of us are blessed that our dads made it into their eighties. 

As times get tougher.....spend more time with family and friends......it's the best return on time that I can think of......stay focused, stay fun, and fondle your mate as often as you can.

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#8) On November 22, 2008 at 12:26 AM, zygnoda (27.34) wrote:

stay focused, stay fun, and fondle your mate as often as you can.

That sounds like a very good suggestion.  haa

 Do you have any idea about what is going to happen to citi?

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#9) On November 22, 2008 at 12:33 AM, Tastylunch (29.34) wrote:

Sorry about your brother in-law's father.Hope he pulls through

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#10) On November 22, 2008 at 12:52 AM, alstry (35.85) wrote:

Thanks for the sentiment. 

In life, unexpected things come up.  You never know when or how or what....I guess that is what makes it unexpected.......enjoy those times where you can. 

In the mean time, the market is getting very interesting.  The cracks are becoming wider and wider.  As far as citi....the outcome is in the hands of politicians now.

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