August 16, 2012 - California Dreamin’ Turns Into Nightmare for Some: California added jobs faster than the rest of the nation over the past year. Tech firms are showering riches on Silicon Valley, and home prices are soaring in places like Palo Alto. The Golden State is rebounding, but for a broad swath of residents, it is a lot less golden and is likely to stay that way.
Even in Silicon Valley, many aren’t joining the revival. Tech companies are thriving, but only after shifting much work elsewhere. Internet-software experts are in demand; middle-aged semiconductor executives aren’t.
California is “an economy of haves and have-nots,” says Sung Won Sohn, an economics professor at California State University, Channel Islands. Moving from robust coastal areas to languishing inland regions is “like falling off an economic cliff.”
California’s economy is so big—its $2 trillion annual output is bigger than all but nine countries—and so diverse that there are always disparities among regions and industries. Click the link below for the complete story.
The Master of Disaster
California’s Boom Masks State’s Uneven Recovery – WSJ.com.
Like this:
Like Loading...
About wfoster2011
Disaster researcher and current financial and economic news and events: Accidents, economics, financial, news, nature, volcanoes, floods, earthquakes, fires; airplane, ship & train wrecks; tornadoes, mine cave-ins, hurricanes, pestilence, blizzards, storms, tzuami's, explosions, pollution, famine; heat & cold waves; nuclear accidents, drought, stampedes and general.
Futures trader using high volume and open interest futures markets. Also, a financial, weather and mundane astrologer with over 30 years of experience.
Three University degrees from California State University Northridge:
BS - Accounting
MS - Busines Administration
BA - Psychology
Served in the U. S. Army as an Armored Platoon Leader in the 5th Battalion, 68th Armored Regiment, 8th Infantry Division (Retired).
Have published three books and 36 articles available for sale through my blog:
Commodology - Secret of Soyobeans (Financial Astrology)
Timing is the Key (Financial Astrology)
Scum City, a fiction novel (no longer available, under contract to major publisher)
Currently resident of Las Vegas, NV, USA
