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Old 08-11-2010, 09:18 AM
 
Location: Sacramento
13,997 posts, read 25,813,850 times
Reputation: 7029

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The federal Bureau of Economic Analysis said personal incomes of Golden State workers fell by $40 billion in 2009 compared with the previous year – the state's first year-to-year decline since World War II.


Californians' income falls for first time since WWII - Sacramento Business, Housing Market News | Sacramento Bee (http://www.sacbee.com/2010/08/11/2950736/californians-lost-out-on-40-billion.html#ixzz0wJKtwwMC - broken link)
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Old 08-11-2010, 09:23 AM
 
4,811 posts, read 9,671,935 times
Reputation: 2783
lovely.
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Old 08-11-2010, 09:33 AM
 
25,626 posts, read 34,662,869 times
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More happy news.
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Old 08-11-2010, 09:51 AM
 
Location: Sacramento
13,997 posts, read 25,813,850 times
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Could have some cascading effect too, such as lower sales tax revenue at the local level.
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Old 08-11-2010, 09:56 AM
 
11,715 posts, read 38,771,553 times
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Quote:
Originally Posted by NewToCA View Post
Could have some cascading effect too, such as lower sales tax revenue at the local level.
Raising the sales tax rate last year already took care of that.

Last edited by EscapeCalifornia; 08-11-2010 at 11:03 AM..
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Old 08-11-2010, 11:01 AM
 
Location: Piedmont, CA
35,655 posts, read 62,948,971 times
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Actually this is a national trend.

According to the Bureau of Economic Analysis, only 3 of the 52 largest Metro Areas in the ENTIRE country saw their incomes grow and ALL 3 were solely due to GOVT SPENDING.

Quote:
Among the 52 MSAs with a population of one million or more, only three had an increase in both net earnings and personal income in 2009 (Washington, D.C.; San Antonio, Texas; and Virginia Beach, Virginia). The biggest gains in compensation in these three MSAs were in the federal government (civilian and military combined). Private sector compensation declined in these three MSAs.
BEA: News Release: Personal Income for Metropolitan Areas, 2009
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Old 08-11-2010, 11:03 AM
 
Location: Piedmont, CA
35,655 posts, read 62,948,971 times
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Incomes dropped across the country, from SF to LA to Dallas to Houston to New York. From sea to shining sea. California is hardly alone in this respect.
http://bea.gov/newsreleases/regional...df/mpi0810.pdf
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Old 08-11-2010, 12:01 PM
 
Location: SW MO
23,594 posts, read 35,218,656 times
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Quote:
Originally Posted by 18Montclair View Post
Actually this is a national trend.

According to the Bureau of Economic Analysis, only 3 of the 52 largest Metro Areas in the ENTIRE country saw their incomes grow and ALL 3 were solely due to GOVT SPENDING.
Sounds like everything is going according to plan. Hello socialism!
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Old 08-12-2010, 10:04 AM
 
Location: Clovis Strong, NM
3,376 posts, read 5,711,930 times
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Quote:
Originally Posted by 18Montclair View Post
Incomes dropped across the country, from SF to LA to Dallas to Houston to New York. From sea to shining sea. California is hardly alone in this respect.
http://bea.gov/newsreleases/regional...df/mpi0810.pdf

Globalism and "spreading that wealth" is really biting us in the rear now.
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Old 08-12-2010, 10:11 AM
 
Location: Northridge, Los Angeles, CA
2,685 posts, read 7,018,998 times
Reputation: 2396
Quote:
Originally Posted by 18Montclair View Post
Actually this is a national trend.

According to the Bureau of Economic Analysis, only 3 of the 52 largest Metro Areas in the ENTIRE country saw their incomes grow and ALL 3 were solely due to GOVT SPENDING.



BEA: News Release: Personal Income for Metropolitan Areas, 2009
Quote:
Originally Posted by 18Montclair View Post
Incomes dropped across the country, from SF to LA to Dallas to Houston to New York. From sea to shining sea. California is hardly alone in this respect.
http://bea.gov/newsreleases/regional...df/mpi0810.pdf
Somehow, I don't take solace in that fact. But hey, at least California isn't alone. We're all on the sinking ship together, holding hands singing "kumbaya" as the vertiable Titanic sinks.

Since this IS the California forum, everyone is going "woe is me" first. Good job Baby Boomers and Generation X for messing opportunities up for people like me! I guess I'll know what it feels like to have a Depression.

Imagine how the rest of the world is doing? It almost gives me the shivers to think what's going to happen to economies like Japan, Spain, and Greece.

Oh well, if its anything like the last Depression, at least we'll have World War 3 to look forward to. WHOO!
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