Now, construction did get out of hands in California and the working migrants, speculators and bad mortgages did make the situation worse too. You had such a cheap and plentiful pool of labor from S. America and a huge pool of dumb mortgage applicants and the speculators to drive all this….and you had a mixture of disaster for the future of the construction industry. Too many houses going up and that eventually had to crash.

What is the diagnoses? Regulate the speculation in the real estate market, create guest worker program for migrants based on labor shortages, and go back to the old 20% down payment and good credit requirement for mortgage applicants.

Slow and steady wins the race.

‘Scuse me, I’m just a bit off from selling my blood today…

http://www.tnr.com/politics/story.html?id=a4893b49-36df-4784-9859-2dfa3a3211bf

The strongest payroll sectors continue to be educational and health services, and leisure and hospitality. Nearly 1.7 million Californians work in education or health, up 3.1 percent over last October. Employment in leisure and hospitality has risen 0.5 percent since October 2007 putting payrolls at about 1.6 million.

who/what will support this public service bonanza ? Is there any manufacturing activity left in CA?

Strange, that we’d be nearly the only sector still going strong, after the gas price shocks last summer.

From the SFGate:

“This all began with the housing bubble, and it was in places like the Central Valley, the Inland Empire and the East Bay where prices got most out of whack,” he said.

Statewide, the department said 26,400 payroll jobs were lost during October. About 100,000 payroll jobs have evaporated in the last 12 months, leaving 15.1 million Californians still employed. The steepest payroll losses continue to be associated with the housing bust. EDD said statewide construction payrolls shrank again in October to about 803,000, down 7.6 percent or 66,000 jobs since last year at this time.

Payrolls in the financial activities sector shrank again in October, bringing to 32,000 the number of jobs lost in the last 12 months. About 836,000 Californians still work in finance, down 3.6 percent since October 2007.

The strongest payroll sectors continue to be educational and health services, and leisure and hospitality. Nearly 1.7 million Californians work in education or health, up 3.1 percent over last October. Employment in leisure and hospitality has risen 0.5 percent since October 2007 putting payrolls at about 1.6 million.

**It’s alarming since California’s economy is frequently measured against the world not the United States. It has been said we have (had?) the fourth or fifth largest economy in the world. As goes California so goes the globe?

I say lets continue the Bush tax cuts for the wealthy so they can continue to stimulate the economy!

Force congress to sign more unfavorable trade agreements with Columbia, Peru and South Korea so that their cheaply made products can be sold here in the USA and more of our corporations can move manufacturing jobs overseas!

Lets give another $700 billion dollars to the banksters and Wall street so that they can buy out smaller banks and have a monoply on our banking institution, just like the Oil companies have. That worked out great for the American people didn’t it?

In closing we really are a nation of whiners. All of us who have no jobs, lost our homes, have no healthcare, watching family members dying because they can’t afford an operation, are dumpster diving for tomorrows lunch…whiners, whiners, whiners. *snark*

California is also now not only one of the states hardest hit by the mortgage crisis, but the fallout now caused by the credit crunch in the financial sector. With 24 Circuit City stores closing in the state and Mervyn’s going out of business, that is feeding those growing unemployment numbers.

What should help stem the unemployment figure is the passage of Prop 1a, which will start construction on high speed railways for much need infrastructure development.

This is the end of America as we know it.

And all I was saying that Mormans could make inroads, I wasn’t prognosticating they would take over.
I love California. I make a lot of money every time I go there.
I’m a firefighter.

All I was saying that a state that has a huge amount of jobs related to tourism, the whole Prop 8 business(besides it being wrong to deny people their rights) was dumb from an economic standpoint.

I was in California twice this year (for work)

As to LDS taking over the state, don’t hold your breath. We’re more secular here then most states and especially the bible belt states. Several years ago a fast growing faith based janitorial company was forced to hire those who didn’t meet their bullshit religious litmus test.

Yeh, we’ve got our fair share of dim wit voters, BFD.

Don’t like CA, stay home.