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Old 05-01-2011, 01:43 PM
 
5,113 posts, read 4,965,346 times
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California in winter 2011 had the second highest unemployment rate after Nevada, 12.2 percent in February 2011. High unemployment means high unemployment insurance benefits; California's Employment Development Department paid $23 billion in UI benefits in 2010. California has been borrowing from the federal government to pay UI benefits; its UI debt is expected to reach $13 billion at the end of 2011.
California: Heat, UI - Rural Migration News | Migration Dialogue


Millions Set to Lose Unemployment Benefits
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Old 05-01-2011, 02:40 PM
 
2,311 posts, read 2,893,107 times
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There's a lot of shoes that have yet to drop .. We are going to see the real picture quite soon now that all markets are slowing the can kicking. California has been borrowing over $40 million dollars a day to pay for unemployment insurance. If it doesn't curtail and start paying the $13 billion dollar debt back, an automatic tax hike will begin on corporations payroll in order to pay for it ... This is not encouraging to creating jobs .....
As for all of the bleeding hearts.. they have extending this thing approx 3-4 times already .. Each time w/ some SOB story about those who are unemployed. Meanwhile, the large majority haven't gone into survival mode : Move in w/ family.. Sell assets.. consolidate.. focus on : food/water/shelter... So when the cutoff finally begins as it is already, they are going to be just as screwed as they were over a year ago... Suffice to say, unemployment benefits did nothing to curtail idiocy ....Even w/ the recession, people continue to spend like drunken sailors :

The gravy train is coming to a halt.. The music is beginning to come to a stop and there will be lots of people left w/o chairs to place their buts in. This is the reality that is masked from everyday Americans on a daily basis that anyone in Markets sees and breathes daily.... Many profitable days lie ahead for those who are properly positioned. As for the rest, this is where they come to face the consequences of their actions.
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Old 05-01-2011, 02:52 PM
 
167 posts, read 212,743 times
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With the fact the state governemt has been borrowing money for the Federal Government, it looks like the state is right on it's course to default.
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Old 05-01-2011, 03:15 PM
 
Location: Vallejo
14,094 posts, read 16,138,912 times
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Quote:
Originally Posted by SFBAguy View Post
With the fact the state governemt has been borrowing money for the Federal Government, it looks like the state is right on it's course to default.
Nope. That's when the Fed steps in and "buys" municipal and state bonds and muni bonds. And we keep on diggin' deeper.
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Old 05-01-2011, 05:26 PM
 
2,311 posts, read 2,893,107 times
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Quote:
Originally Posted by Malloric View Post
Nope. That's when the Fed steps in and "buys" municipal and state bonds and muni bonds. And we keep on diggin' deeper.
Not going to happen... If you pay attention to markets you would understand that there is no such signal currently ...
Also, there is no signal that unemployment will be extended again.

From the looks of the dollar index and the U.S deficit and rating itself.. It looks like someone is going to need to bail out the U.S soon the fed can't anymore as fundamentals are catching up w/ it. I sold all my CA and municipal bond exposure last year towards September. I switched to U.S bonds .. then i sold those.. then I went to REITs and am now out of those.. Markets are very much signaling another dip.

Last edited by yeahthatguy; 05-01-2011 at 05:45 PM..
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Old 05-01-2011, 05:48 PM
 
5,113 posts, read 4,965,346 times
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Quote:
Originally Posted by yeahthatguy View Post
Not going to happen... If you pay attention to markets you would understand that there is no such signal currently ...
Also, there is no signal that unemployment will be extended again.

From the looks of the dollar index and the U.S deficit and rating itself.. It looks like someone is going to need to bail out the U.S soon the fed can't anymore as fundamentals are catching up w/ it. I sold all my CA and municipal bond exposure last year towards September. I switched to U.S bonds .. then i sold those.. then I went to REITs and am now out of those.. Markets are very much signaling another dip.
I agree. Uncle Ben is about to call "UNCLE". The current actions were a last ditch effort and just kicked the can and will make things much worse. We are headed for some very tough times.
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