UNITED STATES, May 13 — Many experts feel that the night of foreclosures in California is edging towards dawn. Some say that the darkness of the gloom has been exaggerated. 81,000 jobs had been lost in California but that is a small percentage compared to other big states.
The biggest plus point about California is that it has solid public foundations
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any experts feel that the night of Foreclosures in California is edging towards dawn. Some say that the darkness of the gloom has been exaggerated. 81,000 jobs had been lost in California but that is a small percentage compared to other big states.
California is in trouble but not more than other states. The recession has hit the entire country. Behind the scenes politicians are at play and taking decisions. In the matter of claims political considerations are gaining priority over real needs. It is not a question of under educated Latinos getting work versus white workers. The issue is what can be done to put the maximum number of people to work.
Obama said, “If I don’t help the banks, there will be lots of victims, so get off my back". We agree that the bankers they were idiots, but you gotta do some things to restore stability. There is a greater common interest. You can’t govern from anger.”
California received a bad economic battering with the busting of the dot com bubble in 2000. Again the housing crash has hit California in a big way. Nevertheless the job growth in California is at par with that of the nation. It is time to find out what has given the state this shock-absorbing power – this resilience?
California increased its share of venture capital and till recently the entire entertainment as well as tourist industry had been growing. In California is concentrated hectic development in computer programming, architecture, designing and researching. It is here that there is plenty of scope for creating of green jobs. The Obama team is favouring many things that California has already been doing.
Over 300,000 added to the employment force of California in 2008. Thus it cannot be said that California has become a land of lost opportunities. Rather there are still opportunities in California.
The work force comprises of immigrants and may who have not as yet retired. Why should people retire at a time when jobs are at a premium? Immigration has grown because it has been a family based expansion. In the 1990’s at the time of recession in the aerospace sector people moved out of California. But today this is not happening because there is nowhere to move to – all the other states are in trouble. Recession has spared none.
The biggest plus point about California is that it has solid public foundations. It means public investments are sure to attract private investments.
ReferencesCalifornia is in trouble, but not more than other states. Behind the scenes of politicians are involved and make decisions
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