LOS ANGELES — Californias unemployment rate in August hit its highest point in nearly 70 years, starkly underscoring how the nations incipient economic recovery continues to elude millions of Americans looking for work.
While job losses continue to fall, the states new unemployment rate — 12.2 percent, according to the Bureau of Labor Statistics — is far above the national average of 9.7 percent and places California, the nations most-populous state, fourth behind Michigan, Nevada and Rhode Island. Statistics kept by the state show Californias unemployment rate was 14.7 percent in 1940, said Kevin Callori, a spokesman for the California Employment Development Department.While California has convulsed under the same blows as the rest of the country over the last two years, its exposure to both the foreclosure crisis and the slowdown in construction — an industry that has fueled growth in much of the state over the last decade — has been outsized.
Total building levels in California have fallen to $23 billion this year from $63 billion in 2005; home building this year is less than a quarter of what it was in 2005, according to the Center for Continuing Study of the California Economy. Roughly 500,000 of the states job losses have been in construction, finance, real estate and industries related to construction.
Gerald Celente , a well-known trend forecaster who is called by many a modern-day Nostradamus, has said he believes a bright future awaits Turkey thanks to the country’s proven ability to live through the worst of crises largely owing to the fact that it has learnt from past experiences.
While he predicted that world markets would likely suffer a giant collapse this year, Celente said countries such as Turkey, which has the ability to apply past experiences to the present, will manage to overcome difficulties relatively earlier.
Speaking to Sunday’s Zaman last week, he drew connections to Turkey’s ability to combine the opportunities of its past with the opportunities of the present day, indicating confidence that the country obviously has the potential to play a prominent role in the future of the world by relying on this capability. Read Full Article >>>
There is no recovery it is a Stimulus recovery , there could not be a jobless recovery it is like being half pregnant , You cannot have a sane economy based on consumption on credit and debt , The Too greedy to fail have hijacked Washington , this is not a fall and rise on your merit capitalism , buy gold and be ready for some very bad times coming ahead warns Gerald Celente, it all boils down to six words says Gerald Celente “Princeton Harvard Yale , Bullets Banks and Bombs ” “Gold is my nest eggs ” says Gerald Celente
Gerald Celente is a respected media commentator on business and consumer trends in the US, and publisher of The Trends Journal. His presentation aims to help exporters understand the key global niche markets they should be designing new products and services for, and signal what the key business and consumer trends will be. The Trends Research Institute is on record as accurately forecasting many major social, economic and political trends. such as the dot.com crash, the rise of gourmet coffees and organic foods. They are currently predicting a rise in ‘simplicity hip’ for the average US family with downsizing in cars,houses and extravagances but a strong requirement for quality products that reflect personal styles and which are simple, reliable and can be repaired – not trashed – when broken. Trends Expert Gerald Celente is also known as Dr Doom and the Nostradamus of Modern Times , Gerald Celente is regarded as one of the foremost trend predictors in the world. This author of Trends 2000 and Trend Tracking, and publisher of The Trends Journal, is frequently a guest on television news and talk show programs. The New York Post said “if Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.”Subscribe to the Trends Journal >>>
Following are Gerald Celente’s Forecasts for 2010: · The Crash of 2010: The Bailout Bubble is about to burst. Be prepared for the onset of the Greatest Depression. · Depression Uplift: The pursuit of elegance and affordable sophistication will raise spirits and profits. · Terrorism 2010: Years of war in Afghanistan and Iraq and now Pakistan have intensified anti-American sentiment. 2010 will be the year of the lone-wolf, self-radicalized gunman. · Neo-Survivalism: A new breed of survivalist is devising ingenious stratagems to beat the crumbling system. And, they’re not all heading for the hills with AK-47’s and pork & beans. · Not Welcome Here: Fueled by fear and resentment, a global anti-immigration trend will gather force and serve as a major plank in building a new political party in the US. · TB or Not TB: With two-thirds of Americans Too Big (TB) for their own good (and everyone else’s), 2010 will mark the outbreak of a “War on Fat,” providing a ton of business opportunities. · Mothers of Invention: Taking off with the speed of the Internet revolution, “Technology for the Poor” will be a major trend in 2010, providing products and services for newly downscaled Western consumers and impoverished consumers everywhere. · Not Made In China: A “Buy Local,” “My Country First” protectionist backlash will deliver a big “No” to unrestrained globalism and open solid niches for local and domestic manufacturers. · The Next Big Thing: Just as the traditional print media (newspapers/magazines) were scooped by Internet competition, so too will new communication technologies herald the end of the TV networks as we know them.
Gerald Celente Blog 