Economic Downturn...

This summer I read a book about the Great Depression called The Forgotten Man by Amity Shlaes.  In it she says that the depression wasn't that bad if you had a job.  Unemployment numbers during the 1930's reached as high as 23% - today I think they are 6-7%.

Companies are laying people off and trying to make up for lost revenue. I think the LIRR (Long Island Railroad) is starting to sell booze on the trains to bridge their budget gap.  Yesterday there was a beer cart on the train in the vestibule!  How's that for being creative?  Most people I talk with say that their business is "slowing" down; I would say the same about my job.  We do not seem to be as busy.  Which is actually a little bit of a relief because an 8 hour day is much more feasible than six months ago.  

Today I read that California, the world's eighth largest economy, may be out of money in March.  How can this be possible?  Where does all the money go in that state?  I guess The Govenator can always put a windfall profit tax on Hollywood. Do Brad & Ang and TomKat really need all those millions?  Spread the wealth around a little in Cali.  ;)

I really do not know a whole lot about economics because in high school all we did in economics class was play the stock market with fake money.  (Not to go off on a tangent or risk offending people but I really think the public school system will be obsolete in my lifetime.)  My pseudo economics teachers are Walter Williams and Thomas Sowell.  Check out there columns if you have time.

Some do not believe the market can correct itself.  I am seeing an example of supply and demand at work.  A few months ago you couldn't find a contractor and if you did his price was extremely high.  Today you can easily find one and their prices are much lower.  Score one for the free market.

I'm not sure what I can do to help the situation.  This is what I will reflect on this weekend. 

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