What is Digg?96 Comments
- LordSkywalker, on 04/26/2008, -5/+20Yet another article that would benefit from the proposed No ***** category that people have been talking about.
- FarmPunk, on 04/26/2008, -2/+14Where I live, rents have more than doubled, gas has tripled, everything has inflated, and salaries are pretty much static over the past six years for most people, yet there are seemingly infinite numbers of people who can afford million dollar homes. i am unemployed, couch surfing, and miserable. i don't know if that's a recession, but it seems like a precursor for class war.
- bjornski, on 04/26/2008, -1/+11You wouldn't know a communist or socialist regime if one bit you on the ass.
And your economic ignorance is staggering. - cubicledrone, on 04/26/2008, -0/+8The unemployment rate only counts people who are currently taking unemployment benefits. It does not count the millions who have exhausted their benefits, have still not found a job or have given up looking for a job. It also fails to count underemployed people.
- researcher1941, on 04/26/2008, -7/+15this is not a recession this is deregulated capitalism self destructing.
bye bye middle class. Reagan was a genius. was able to eliminate the middle class and get them to vote for him. pure genius from a second rate actor in a dumbed down society.
it appears that most Americans have this secret desire to be wal mart greeters.
they have been sold a bill of goods on capitalism while the have mores smile all the way to the bank.
karma time in America and even the rev wright knows this while Americans throw their hate at him. kind of like the folks 2000 years ago threw hate at Jesus.
the base of bush Jr the have mores and the haves and the wanna be's. - Daz3, on 04/26/2008, -0/+8"This is so ***** ridiculous that it's still some kind of debate as to whether we're in a recession or not. The cost of goods is going up regularly at this point. Wages are down, the value of the dollar is horribly down, job loss is up. Throw in the current state of the housing market and you're retarded (or very well insulated) if you can't see that the economy overall is in a recession."
Technically, to be in a recession all you need to have achieved is thee consecutive quarters of negative economic growth. - KLowD9x, on 04/26/2008, -2/+10If there are no jobs to pay for our debts, how can outsourcing help us?
- jaydoj, on 04/26/2008, -0/+7Okay, I feel for you, but you'd better hope there's not a reading or spelling question on there or you are *****.
- bjornski, on 04/26/2008, -0/+7How important is California in determining this?
If I have to answer that for you, it's not even worth trying to answer your second question. You wouldn't get it anyway. - 55mph, on 04/26/2008, -0/+7What's interesting is how many diggers either find this information either repetitive or useless.
We are headed for an all out Depression. The kind our grandparents remember. This isn't a typical bump in the road we've come to expect since Reagan took office. It's a whole new battle field. All thanks to the Federal Reserve, their shareholders, special interests and the Politicians they paid for along the way. Bush put the last nail in the coffin. - iamcool, on 04/26/2008, -2/+9Times are bad and getting worse. I used to work in IT and have been out of work for longer than I'll admit to. With life savings drained I buy nothing unless it's absolutely a necessity. This of course contributes to lost jobs, and less money going to the state as well as social security and other government programs our taxes pay for.
- cubicledrone, on 04/26/2008, -0/+7Losing a lot of good jobs does not produce more benefits for everyone. Where the ***** do people come up with this *****?
- zomgflamer, on 04/26/2008, -1/+8Here is how bad it is. I just got a notice that our lease on the apartment expired and we have to sign new contract, and they ***** raised the rent for 12 month contract by $150 and month-to-month by $300. Just 4 years ago rent for 2 bed room apartment was $1600 in San Jose, California. Now its ***** $1800 and soon it will be $1950. WTF is the point of raise from ur job if the ***** cost of living is more than the god damn hard work we put it. *****@!!!!!!!! ***** You mother ***** ***** ass hats with god ***** dam votes. I swear no ***** should be allowed to vote if they don't pass a 100 question quiz at the voting pole. *****!!!!!!!! AMERICAAA ***** you piece of ***** democracy!!! I hope the dollar completely plummets and all the rich ass hats have to burn their money to keep warm.
- haylel, on 04/26/2008, -2/+8or the "irresponsible" people's jobs got outsourced.
- KLowD9x, on 04/26/2008, -8/+14This is what happens when jobs that the American people could be doing are sent over seas.
But, we did it to ourselves. - kevisazombie, on 04/26/2008, -5/+11anyone want to start a militia?
- louiebaur, on 04/26/2008, -2/+8bleak in California is an understatement
- msezell, on 04/26/2008, -2/+8Yes things are getting bad and people and states are suffering. Recession is a economical term and has a precise definition. We are in a recession when we have had two consecutive quarters of negative growth. We haven't had one quarter of negative growth to-date. There is no supposedly.
- nixfu, on 04/26/2008, -1/+7>appear to be in a recession
APPEAR?
How is this ***** accurate reporting? - Dumbledorito, on 04/26/2008, -2/+8In this day and age, if you say "we are in a recession" during a Republican administration, right-wingers will claim you're part of the left-wing bias bunch.
- jedmed, on 04/26/2008, -8/+14Until governments are required to use the managerial or cash accounting methodology, governments (and corporations) will continue to cook the books. It's basic human nature.
Currently the law requires everyone to file their taxes using the accrual accounting system. This makes sense as it allows business to balance costs and profits to offset each other so that the entity can spread their costs out over time and not suffer unfair tax consequences. For an ongoing governmental or business entity it makes good tax sense.
Unfortunately, it is also severely distorts the actual fiscal health of this entity in the present. That is why entities use managerial or cash accounting for internal purposes. If they didn't, they could not compile accurate information or make realistic decisions.
Accrual accounting distorts reality so badly that you often simply could not possibly ascertain the current fiscal health of you entity even if you wanted to. Imagine what you could do if you set out to issue misleading figures?
Fortunately it is very easy for an entity to maintain their books using managerial accounting practices, and then simply convert the figures to accrual accounting methods strictly for tax purposes. They could then file yearly statements using both systems and provide an accurate fiscal picture of their operation while still reaping the tax benefits.
Unfortunately for the taxpayers and investors, governments and business entities do not want to publish accurate reports to the public. - SubjectiveC, on 04/26/2008, -1/+6Wow, that is amazing. Tell us more.
- Dumbledorito, on 04/26/2008, -0/+5I just got back from Las Vegas to my humble midwestern Missouri digs and was horrified to see gas prices were the same in both places.
- bjornski, on 04/26/2008, -0/+5And just how many LARGE states do you think have to fall into that situation to affect the nation as a whole? And with enough massaging and bail-outs, we can delay the "textbook definition" term of a recession for a long time. Longer than it takes to break the bank.
So your ignorance on the fact that when the states suffer, the nation suffers is just beyond the pale for me.
And "stupid *****"? Excuse me? I'm not the one here who is ignorant about these things. You just sound a bit butt-hurt.
I may be an *****, but I'm not stupid. I wouldn't want to deny you of that title, you moron.
And I hope you're enlisted. You sound ALMOST smart enough to pull a trigger when told to. Balancing a checkbook might be a bit beyond you. But I'm sure you could hold a gun just fine. - jaydoj, on 04/26/2008, -0/+5oh and Bush outsourcing jobs to private firms for our most recent shall we call it a 'stay' in Iraq didn't affect it at all, nope, not one single bit, how much did Blackwater make off of the Bush administration? Yup all Billy Boy's fault, you got that right.
- Lynxplus, on 04/26/2008, -0/+4SCREW YOUR ***** HEAD ON THE RIGHT WAY, then take it out your ***** *****.
- atbnet, on 04/26/2008, -0/+4You just wrote a ton of ***** to make it look like you know what you are talking about, but you don't. Managerial accounting has nothing to do with cash accounting. I'm guessing you took an accounting class along the way and automatically think you're an expert.
- bphicke, on 04/26/2008, -0/+4Do you have a credible source for this information? I think your FOS, but I'm always willing to learn.
- mzx639, on 04/26/2008, -4/+8Interesting how the two states appearing to be suffering the worst just happen to be the states with the highest illegal immigrant population....coincidence?
http://tiny.cc/bMgkP - siszam, on 04/26/2008, -1/+5At one time companies spent the money and effort to train employees. They did that because they valued a good employee and intended to keep them over a lifestime. Now they consider profit more important than people and there is no loyalty to employees or countries. Why train an American when you can hire an illegal for reduced wages or run a sweat shop in China? It's a Republican wet dream. They'd bring back slavery if they thought they could get away with it.
- cubicledrone, on 04/26/2008, -0/+4It's got to be a recession at least.
- swiftheart, on 04/26/2008, -2/+5I'm not sure how you can describe Delaware's $69 million shortfall as "grim." Delaware's state budget is $3.5 billion and while it's unfortunate, $69 million is just a near miss.
California's $16 billion shortfall. Now that's a problem. That's about 1/9th of the state budget. But it's not necessarily caused by recession...California had crazy money during the dot com heyday, and spent it like the money was going to always be there. Suddenly those very rich incomes and capital gains disappeared. - bphicke, on 04/26/2008, -1/+4@pogfreak, Public high school doesn't count.
- Lynxplus, on 04/26/2008, -1/+4... No *****? The world is flat, It's a book - for sheep.
- KLowD9x, on 04/26/2008, -0/+3What type of engineer is not plentiful here in the US?
- mzx639, on 04/26/2008, -0/+3I say, if they are illegal, send all of their asses back! White, black, brown, yellow, if you aren't legal, get the hell out!
http://video.google.com/videoplay?docid=5871651411 ... - AxeSwinger, on 04/26/2008, -0/+3Sure the rate is similar. But look at the quality of the jobs. The average hourly income is lower. The cost of living has risen. The total compensation per hour is lower as well. The spending power of the dollar is lower.
As a gross oversimplification if in the mid 90's the average hourly wage was $25 and today it is $15 but 90's era unemployment was 7% and today it's 4% our economy is not better off. - KLowD9x, on 04/26/2008, -0/+3We are the sheep. We are the ones that demanded cheaper goods no matter who made them. Companies took advantage of this, moved production over seas where it was dirt cheap and only recently are people starting to realize how much money these other countries are making off of us and how bad this is hurting us.
- chessmaster2000, on 04/26/2008, -1/+4WHAT?!? WE'RE IN A RECESSION??!? NO WAY!!!!
- roosterjack, on 04/26/2008, -0/+3Appears to be?!? It looks like they already are!
- xedd, on 04/26/2008, -1/+4"Okay. If many states are in a recession, how can it be possible that the country overall is not in a recession."
Probably because the federal/national numbers have been cooked for about two years running. - MadN, on 04/26/2008, -1/+4You can't afford to think about recession; we've got to go bomb Iran!
Gas doesn't cost enough yet; got to stop those pipelines or we'll never reach the $4 a gallon Dick Cheney promised the oil executives at the energy meetings in Spring of 2001. - thebaron2, on 04/26/2008, -0/+2Not sure about everything else, but here's the current and historical unemployment rates. Current (03/08) is 5.1%.
http://www.bls.gov/news.release/empsit.nr0.htm
http://research.stlouisfed.org/fred2/data/UNRATE.t ... - thebaron2, on 04/26/2008, -1/+3Which we haven't hit *yet*. It's our rate of growth that has been declining.
- lpse2000, on 04/26/2008, -0/+2Here's a link for the inflation data.
http://inflationdata.com/Inflation/Inflation_Calcu ... - joe8pack, on 04/26/2008, -0/+2Amazing diversity of view points in these comments. Half the commenters want to bury the post for being too obvious or too late, the other half deny that it is true. This nation is polarized, a fact that becomes even more obvious when we can't agree about the economy we participate in. This suggest we are becoming a 2 class society, the haves and the have nots and neither can conceptualize or understand the other. It looks like most folks cannot even admit that we have become a polarized 2 class society. The rich feed off the poor but can't admit it, or even admit the poor exist and if they do, its their own damn fault. The poor cannot understand how they got there, why they cannot move up or how they are being manipulated by the banks, the stores, and the government.
This dialog would not even be taking place if the tires weren't coming off this badly managed economy that is running into the ditch. The recession is foreplay for the real ***** to come, be ready, be prepared. The days grow short until the ***** hits the fan. - Daz3, on 04/26/2008, -0/+2Because it is entirely possible for certain states to have had three quarters of negative growth without the entire economy of the country having had three consecutive quarters of negative economic growth.
- Spoomeister, on 04/26/2008, -0/+2I suspect some of the people complaining about the recession we're in, are still driving a car too expensive for them, still carrying credit card debt that didn't go to emergencies or necessities, still buying hi-def TVs, etc. Kind of like those who agree that this is a nation of overweight, out-of-shape people... while horking down fast food for dinner every night.
There's lots of people who've posted here who are legitmately, unfairly, royally screwed by the economy. They're not spending crazy, not trying to living beyond their means, but the basics of being able to work and eat and live are getting too expensive. But that's a minority of people. Most people want to have their cake and eat it too. They want $1.50 gas for their SUVs. They want $1500/month for their oversized house. They want to be able to buy plastic crap from China as fast as they can load it into their mini-vans. And so on.
What will get us out of the recession is not a change in policy, not a change in leadership, not a change in the freakin' price of gas. It's going to take a cultural change. The same practicality, frugality and plain common sense that our grandparents and great-grandparents had during the depression. We'll have to be like them again (only, without that pesky sexism, racism, etc.).
Until it's more than just a fringe, quirky thing with a cutesy 'green' label to actually live within one's means, nothing will change. - kesam, on 04/26/2008, -0/+2If there's no middle class and everybody is a walmart greeter, who are going to be the customers? There aren't enough rich people to support a chain like walmart.
-
Show 51 - 100 of 101 discussions
© Digg Inc. 2009
— Content created and posted by Digg users is