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| Economy |
| UCLA predicts grim outlook for California economy |
| 2009-12-11 |
| [Iran Press TV Latest] Forecasters have portrayed a grim outlook for California's economy, saying that the golden state is going to remain stagnant for the next two years. The new study comes on the heels of a forecast indicating a budget deficit of 21 billion dollars which is going to be the highest among all other US states. Senior economist, Jerry Nickelsburg, who is with the Anderson Forecast from the University of California Los Angeles (UCLA), blames the state's economic downturn on America's lack of spending. "California sits on the Pacific Rim and we're the locust of imports and manufactured consumer goods from Asia...the US consumer is not buying so that industry is not really growing," Nickelsburg told Press TV's Ross Frasier. The Forecast director Ed Leamer thinks differently holding the state's government mainly responsible for crippling the economy. Leamer maintains the best way to revive California is to replace the system running it. "We have term limits, we have two-thirds majority, we have total disarray in Sacramento...and this problem with the budget deficit seems pretty familiar because we were here just a few years ago and we're going to be here again unless we change the way the state is governed," he says. Leamer believes California needs to handle it's economic troubles without aid from the federal government. He says bailout money would only make the problem worse. "My own personal opinion is now is the time to let the private sector do the natural thing it does to help heal the economy, help economic growth occur, and help create jobs for Americans," he says. US President Barack Obama's Administration has proposed a hefty 787 billion dollar stimulus plan to revive the ailing US economy and create jobs for Americans. The UCLA Anderson Forecast predicts double digit unemployment for California until 2012 as it argues the state is not creating enough jobs. "The stalled California economy is simply not producing the jobs required for the new entrants to the labor force over the next couple of years to prevent these elevated levels of unemployment to persist once the job lay-offs cease," UCLA says. |
| Posted by:Fred |
| #12 Well, I haven likened Californians to locusts - they move into a state in large numbers and bring their destructive politics with them, eventually stripping the land and destroying it. |
| Posted by: OldSpook 2009-12-11 11:49 |
| #11 I've been known to splash around in the Pacific Ocean in my undies. But my mom didn't know about it. Well, we've been overwhelmed by illegal immigration, raped by developers and mismanaged by the worst frickin' bunch of crooked politicians you could ever imagine. Our schools are a joke and our hospital ERs look like the Third World. I've been telling Mrs. Uluque for several years now that we need to get the hell outta here but it's hard for her to let go. Then you get morons like this guy Nickelsbug who laments the fact that Americans aren't buying enough plastic crap from China anymore. Excuse me but I see that as a good thing. Maybe if we get desperate enough we'll learn how to make things here again. |
| Posted by: Ebbang Uluque6305 2009-12-11 13:37 |
| #10 Doesn't take a genius to make that prediction. |
| Posted by: JohnQC 2009-12-11 11:56 |
| #9 Liberals took over there years ago when it was the Golden State. They assaulted private enterprise and heavy business regulation. IF they are ever put out of business when California is looking like a third world cesspool, they will still go out kicking and screaming because they will be too stupid to know what they did. That is how dumb and deranged liberals are. |
| Posted by: Chunky Phaving7818 2009-12-11 11:37 |
| #8 ....but you didn't splash around in the canal in your undies did you? |
| Posted by: Besoeker 2009-12-11 08:59 |
| #7 I used to live in a distant dirt-road suburb, back up against the Angeles National Forest, with a view of mountains, and a horse in our backyard. We used to hike through the chaparral and listen to coyotes howling way down in the canyon. Used to be a nice place, California. Pity. |
| Posted by: Sgt. Mom 2009-12-11 08:58 |
| #6 Dont you wish you lived in California> Somewhere between Brawley and El Centro with a good view of the Mohave. And an old car in the yard and a clothes line out back. My childhood memories. My mother let me play in the Irrigation canals in my underwear. And the friendly big birds used to land and look at me. Big birds. |
| Posted by: Angleton9 2009-12-11 08:31 |
| #5 Perhaps Mr. Nickelsburg was referring to the CA government and the legions of freeloaders it supports. |
| Posted by: ed 2009-12-11 08:04 |
| #4 Locust, a malapropism, heh. She said, "I love you," with a voice full of emulsion. |
| Posted by: Alaska Paul 2009-12-11 07:37 |
| #3 I'd have thought that "stagnant for the next two years" was a fairly rosy forecast under the circumstances. "Locust" is certainly an evocative description of California. |
| Posted by: James 2009-12-11 02:25 |
| #2 we're the locust of imports Dammit, Jim! I'm a senior economist, not an etymologist. |
| Posted by: SteveS 2009-12-11 00:45 |
| #1 California sits on the Pacific Rim and we're the locust of imports and manufactured consumer goods from Asia... Locust? |
| Posted by: AzCat 2009-12-11 00:07 |