There's a saying that most of us have heard many times before, "As California goes, so goes the nation." The saying is/was intended to recognize Californians for consistently being on the cutting edge of new developments in science, business and innovation.
Let's hope that the current dire unemployment picture in California doesn't end up sweeping the rest of the nation.
This graphic courtesy of the Los Angeles Times. Full article here.
28 thoughts on “"As California goes, so goes the nation"...Let's hope not!!”
Re California and free medical for illegal aliens. This is a very emotionally charged subject and should be left alone in such an emotion free program as Market Club.
However, I`ll comment regarding a stock relationship. To stop paying fraudulent medical claims, seems to me those designing the system would know the company that is able to put a "chip" onto a Medical Verification Card that verifies the identity of the person and this card would not be issued to anyone who did NOT meet certain credentials. For a medical office to accept a card without proper verification would be punishable with a very heavy fine. NO ONE WHO IS NOT A U.S. CITIZEN WOULD GET A CARD.
I think it is just a matter of there being too many ways to control it, and that no one has the ultimate responsibility to decide what to do. Could it be that there are too many people involved and everyone wants the credit?
Thanks for the heads up Adam. If the California lesson is to be heeded then we should be invested in hard assets (LONG); (food)agriculture, precious metals, oil, gas, rare earth minerals, etc. Times are a changing and a new market force is headed our way to create a new kind of cycle: those who ignore its veracity do so at their own financial peril-- Great Depression II.
Brenton Bane: Adam, his comment is pure hate. I don't object to hate in it's proper place. but to allow it in this space, is like allowing vandals to spray vulgar language on your home, and you not caring enough to remove it.
You're a great guy, and I feel like you and I are friends, really. I've developed warm family feelings for you, and it hurts me to see this.
Thank you for your comments. We are allowing strong opinions from both sides of the spectrum. Although I can't stop the opinions/views/disillusions from blog comment posters, I can prevent foul language.
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I don't find anything about Californian politics surprising! After all, Arnold did run on cleaning up the economy in California, thoroughly trashing his predecessor as incompetent and responsible for the financial mess in the state! Well, methinks Arnold is no more capable than the former govenor and is responsible for the current situation. So next time when a candidate promises competence, he or she could just be blowing smoke!
In the past not too many Americans and legal residents were unaware of the happenings in Congress. Today instant contact is a way of life for anybody who has access to a computer. In 1986 other than the paper media, tv and radio gave any evidence of the Immigration Reform package and that was surely limited? The US population was isolated from the truth that was to befall them, after the Simpson/Mazzoli bill passed because the politicians hid the truth? 2 million guest workers were to be given citizenship, but the process became full of corruption and 5.3 million was eventually approved for blanket AMNESTY. Expeditiously the guest workers moved away from agriculture and joined the mainstream of workers. BOTH POLITICAL PARTIES ARE EQUALLY TO TAKE BLAME FOR THE ILLEGAL IMMIGRATION OCCUPATION OF OUR NATION.
The people who picked the fruit and vegetables in the farms vanished, so that meant more floods of illegal workers to take the empty places. Today Obama wants to pass another miserable immigration reform bill, even though the main author Edward Kennedy insisted there would never be another path to citizenship. Millions of honest voter don't believe the rhetoric or lies that spill from the politicians anymore. Again behind closed drapes they have been having a secret summit, with little or no participation of the press or pro-sovereignty groups. When lawmakers declare no more Immigration reform than they better stick to their words. Both parties contain corrupt legislators who care nothing for the working man/women and are ready to present in the House and Senate a new immigration reform bill.
287 G, was a lifeline to train local police authorities to arrest and question people, but that may have seen the end of days. The no-match letter may also have been sold out, as well as ICE raids to pander to extremist groups such as La Raza. A recently released report by the Labor Department's Bureau of Labor Statistics shows that 42 states lost jobs last month with Indiana alone losing 9,500 jobs! With 15 million Americans out of work and most states continuing to lose jobs on a monthly basis, it is completely obnoxious that the United States hands out about 100,000 green cards each month! THIS IS NOT RACISM THIS IS ABOUT SURVIVAL!
President Obama is holding the reins, this time and already confusing the American people over health care. Joe Wilson was right to some degree about no mechanism in the health care package to identify illegal aliens. After the fact and bombarded by livid Americans they added amendments that would cut off all access. That why our legislators need to amplify the verification procedures, to remove foreign nationals from cheating the system.
I trust neither Sen. Harry Reid, House speaker Pelosi and all those who fumble along behind the major conspirators. Harry Reid's Nevada has hospitals in dire need of funds, because of the massive illegal alien population there. The same with California that's having release 20.000 prison inmates, because they were on the edge of bankruptcy, owing to indifferent assembly in Sacramento who allowed unfettered benefits to millions of illegal immigrant families feeding out of the waning state money trough.The businesses that draw them here, pay nothing to their living conditions. Those expenses are left to the taxpayers. Call your Senator or Representative at 202-224-3121 and demand no more Immigration Reform. If you want real facts find out about the corruption and other sinister issues at NUMBERSUSA & JUDICIAL WATCH. Only your irate voices will curtail another AMNESTY travesty and stop millions more arriving illegally in America?
Certainly I would like a Public option for some family members, but not if illegal aliens can benefit from US taxpayers paying the bill?
As long as a politicians "job" consists of getting elected and he stops producing there he needs to be fired and stripped of ALL benefits of having ever been elected to ANY position.
The only problem with this plan is the people that would be responsible the inacting of such legislation are the thieves currently in office.
So far Obama is doing a great job as Bush's stand in. What change? SSDD.
For those that are not aware of the abreviation Same S--- Different Day
or it could be SSDP
Just like Limbaugh minions or dwarfs who spin the truth there is 'No' FREE HEALTHCARE FOR ILLEGAL ALIENS . Have you read the proposals ? Or are turning them to suit someones agenda or propaganda. Leave this for the stock comments Benton Bain
According to Mayor Villagrossa, illegal aliens do not cause any harm to California. They add to the economy and there are no garage apartments anymore in LA. Code enforcers have closed them up. Further, Sen Fabio Nunez retired to keep his son from going to jail for assault and battery. But he will be back to save the State Senate. Everyone loves the low ttaxes in Calif. 9 1/2% income tax, 9 1/2% LA County sales tax, 1% of market value property tax on new homes, 4% closing costs on home loans, all part of California low cost of living.
Farmers are turning to gtowing the state's second largest cash crop, weed!! Medical MaryJane shops are springing up at Venice Beach Boardwalik in LA.
So stop knockin California, this is the home of California girls and California Dreamin. No one here has called for any investigations into where all the tax money goes. They tell us to smoke more cigarettes so the 50 cent per pack tax will help fund children free health care. We don't need any Obama handout!
The Greenies are forcing Farmers to the Bread Lines in order to save some precious Minnow. Amazing.
Better check your facts on the California illegal alien #'s. Go to http://www.snopes.com and check it out for yourself. 2 of your statements are true.
The statement will only be true if the Nation follow California's example.
1) Massive government spending programs.
2) Environmental extremist have control.
3) High Taxes
Hmmmm. I guess we are in for a ride.
As a Californian, a Financial Planner, and a Tax Advisor, I read with interest Jay Foster's comment about California. While there is great pain in California with its high unemployment rate and its high foreclosure rate (soon to be even higher due to these Alt-Ds), there are pockets here in Northern California that are doing ok. For example, my hometown has a surplus budget. Our city council is made up of very financially conservative members, so we saved when times were good, and now we can hire people to do landscaping and other infrastructure work at discounted prices. This is happening even when other cities around us are having trouble paying their police departments, etc.
My clients, many of whom earn 6 and 7 digit incomes, are like kids in a candy store. Having heard my mantra on financial common sense, they are in position to take advantage of opportunities as they present themselves. They had saved when times were good. I have taught them to watch the news and think the opposite. In other words, be wary when the "experts" say it's good and invest when when the "experts" say it's bad.
We have a government in Sacramento that Jay Foster is referring to. Sometimes I wonder if these legislators can even balance their own checkbook. Wells Fargo is a California bank that I hate dealing with. If they go under because of their stupid derivative holdings and their disrespect for their clients, so be it. There are other banks in California who do not deal with derivatives and who treat their clients with respect - Silicon Valley Bank, Comerica and Borel Bank are several. Disclosure: I own shares of Silicon Valley Bank.
S&P overvalued? Remember, even if the S&P went up 15%, but the dollar goes down 20%, you're losing. So I don't really care about the S&P since my portfolio is geared to overseas investments and precious metals. By the way, there are still some great companies in the U.S., just not the whole American market these days.
Thank you for your response. I am glad some areas are doing well, I really am. It just sometimes gets frustrating hearing about all the problems in California. It sounds like you are doing really well and that is wonderful.
8th largest economy in the world...wait till the other states report their year end on Sept 30th...all but 2 will be holding their hands out, I'm sure
Mike,just curious about which two states that won't be needing a handout and why.
we are not out of the woods yet. now is the time more than ever to be completely committed to our trading plans and not falter for a second and only view the information without emotions and to be ready to pull the trigger to protect our investments.
Who cares any more man, who cares...
The marked went up 400 point (that is 20.000 for each contract!!)
We have been bluffed by the media to sell and get out in March, when the market hit the bottom! And now they have been threading us not to buy cause this is a bear marked... shouldn’t believe them and trade what you see
I don't know about the nation, Adam, but New Jersey, for sure, is in hot pursuit.
Then we are in serious trouble. California has no financial discipline. The whole state is in a Great Depression!!!! I have no sympathy for them. They spend money like a two year old!!! There is no logical thought in California.
The S&P is so overvalued!!! This bear market rally is almost fraudulent!!! Things are getting worse, but the media is talking about how great things are.
Alternative Documentation loans will be at least 5-10 times more damaging the Sub-Prime loans. Prime loans are defaulting at the same rate as sub-prime. Commercial loans will be a disaster. Derivatives are a ticking time bomb. Check out Wells Fargo=a ticking time bomb!!!!
Do your own research and use credible research.
Good luck to all of you!!!!
I agree with your comments regarding the stock market bear rally, but I would not have described it as "ALMOST" fraudulent?
I should have explained what I meant as fraudulent with more clarity. Things are getting worse, but the media continues to try and hype and deceive the public that this is a new bull market. Deception is part of fraud.
This is a bear market rally. Some things to think about:
*Derivatives are a time bomb!
*Commericial real estate is a huge problem. Janet Yellen says it is the biggest problem we are facing for a recovery in the economy.
*Alternative Documentation loans
*Our national debt is soaring=predicted to go to 17+ trillion in ten years. I would bet it will go much higher=20-25 trillion is my guess.
I hope all of you reach all your goals. I am writing this because I don't want people to be crushed by the market. If you look back in the 1930's, the same thing happened. People thought it was a new bull market and it wasn't. People got crushed!!!
Wake Up America!!!
California is on the verge of bankruptcy and Our Government has yet to stop the invasion of illegal aliens.
Take a look at that always shining gem of political know-how, the state of California which is looking more like Mexifornia everyday and your state is next.
A List of 10 Facts Caused by the Illegal Invasion From the L. A. Times.
1. 40% of all workers in L. A. County are working for cash and not paying taxes. They are predominantly illegal aliens working without a green card and will be ELIGIBLE FOR FREE GOVERNMENT RUN HEALTH CARE.
2. 95% of warrants for murder in Los Angeles are for illegal aliens and they will be ELIGIBLE FOR FREE GOVERNMENT RUN HEALTH CARE.
3. 75% of people on the most wanted list in Los Angeles are illegal aliens they will be ELIGIBLE FOR FREE GOVERNMENT RUN HEALTH CARE.
4. Over 66% of all births in Los Angeles County are to illegal alien Mexicans on Medi-Cal, whose births were paid for by taxpayers and they will be ELIGIBLE FOR FREE GOVERNMENT RUN HEALTH CARE.
5. Nearly 35% of all inmates in California detention centers are Mexican Nationals here illegally and they will be ELIGIBLE FOR FREE GOVERNMENT RUN HEALTH CARE.
6. Over 300,000 illegal aliens in Los Angeles County are living in garages and they will be ELIGIBLE FOR FREE GOVERNMENT RUN HEALTH CARE.
7. The FBI reports half of all gang members in Los Angeles are most likely illegal aliens from south of the border and they will be ELIGIBLE FOR FREE GOVERNMENT RUN HEALTH CARE.
8. Nearly 60% of all occupants of HUD properties are illegals and they will be ELIGIBLE FOR FREE GOVERNMENT RUN HEALTH CARE.
(There are 10.2 million people in L.A. County) The fact that California is on the verge of bankruptcy is just a coincidence right? It has nothing to do with illegal aliens, right? 60% of Americans agree that illegal aliens are the cause of this and they do NOT want them to be ELIGIBLE FOR FREE GOVERNMENT RUN HEALTH CARE.
25 New illegal aliens JUST CROSSED our border while you are reading this and will be ELIGIBLE FOR FREE GOVERNMENT RUN HEALTH CARE.
Consider item 6 above: These illegal aliens are the ones that work in meat & vegetable processing plants, there are not that many garages that have toilets, showers, or running water facilities. Have you ever heard of Escherichia coli (E coli) and the number of people that get sick, hospitalized and die every year from contaminated food???
This is the kind of change Obama is rushing at break neck speed to impose on the 97% of Real Americans that work hard for a living. It is time to stand up for what the majority of Americans believe in a free America, where the government represents the people, not use them for their own gains.
If you do not get involved in trying to stop this governmental crime against its citizens then you will not be a free citizen for long. Contact Hussein Obama (NOT a NATURAL BORN CITIZEN as required to be the president), your senators & representative and give them HELL!!!
IN GOD WE TRUST
Veteran (Veterans are considered potential terrorists by DHS)
If I wanted to hear about the world according to glen beck or rush limbaugh I would tune in. Stocks please, just the stocks, jeez...
The problem is not the illiegal aliens or any other country or neither the Americans the current economy system as what you trade on the profit base economy system is collapsing and it will be wise to get out of any of these the stocks fx are all artifically conntrol and created. I have been in this business for more then 25 years now and I believe it is not same as it was use to be before. So take your Investments out convert them in to the pure gold or buy land for cultivation and prepare your selfs for a new disaster coming on to your way.
Beacause it ain't pretty that is all what I can tell you.
I don't want anymore change, LOL.
I thought this blog was goingin to give me good prospects for purchasing stock option next week. Instead I am not sure what it is doing
John, let us not be dependent on this blog for our personal direction in the marketplace. I am careful to maintain a bevy of sources, even though it is extra work managing email. Watch the markets Monday on a 60min. chart. If in afternoon trading they fall under their midday lows we will have formed an intra-day top. That could possibly signal a pullback.
If a tropical island is "pay dirt," then let us be careful to steer clear of the reef, in search of a clear passage to a safe and prosperous harbor.
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