... and so it starts, the fat cats get away with the looting, at 97:3 leverage, retire to happy isles of caribbean, and the j6p pays, with blood, sweat, and tears
to buy hedonic goods, work at birth-death jobs, and enjoy chain-dollar holidays, and get stuffed the hard way, side ways
in any case, who needs teachers, there is television and cnbc
"we don't need no education ... we don't need no thought control ... "
courtesy of pen pal ...
quote
And so the process truly starts in earnest now -- jumping off the job loss cliff
California lays off over 10,000 teachers -- sfgate.com
I also heard that the City of Los Angeles is announcing major layoffs as well -- all departments except LAPD -- still looking for a confirmation link there, but warnings were already issued -- mercurynews.com
This process will be duplicated all across the USA in other states/cities facing tax revenue shortfalls, killing the government side of the unemployment numbers in tandem with private sector job losses. That loss of personal income in turn is going to suck the breath out of any potential RE or consumer recovery, no matter what the interest rate regime is -- and it will also lower income tax revenues in a vicious cycle
In California you are about to hear about the D word everywhere you go until you want to puke, assuming you aren't already hearing it too much
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