Oh California !
Well the (1)>>Lockdowns have hurt a number of States in America . Before the pandemic, most states had generally healthy budget situations and were working on adding to their reserves, which had been built over the decade since the Great Recession. Now state finances are in peril regardless of the actual number of infections. In nearly every state that has estimates, the projected budget gaps are bigger than the emergency savings. As it appears that California finance officials revealed a $54 billion deficit. So here is the conflicting news. Governor Gavin Newsom proposes billions in California budget cuts while releasing prison inmates and supplying stimulus to illegal immigrants. Makes sense to you ? OK? Wasn't California the state that put a balanced budget into law or something? Or was it a "no tax increases on anything" law? but you know that California may have never had a budget that was ever fiscally sound. The 30 or so years that I have been reading and studying politicals and the California economy for example going back to Gov. Pete Wilson . California has always been the tax and spend state. The state has a huge buget that exceeds over 300 billion since 2000 AD. For weeks people have begged to go back to work. They don’t want government money, they want to earn it for themselves. But Newsom and county health officials would not allow it. They would rather risk making more people dependent on the government to survive. The problem is that as more people become dependent on government support, there are fewer people on which the government can depend for taxes. And the deficit grows. Without sugar-coating how hard the prolonged shutdown of businesses and job losses will hit the state, Gov. Gavin Newsom’s administration released bleak projections on key statewide indicators: 18% unemployment rate for the year, 21% drop in new housing permits and nearly 9% decline in California personal income. Well how the "hell" did this happen? (2)>>In California the Democrats blew the hole in the budget as it were they who ordered business closed and folks laid off, not some microscopic virus. They the Democrats should be proud of the financial implosion they caused, and if not, then why did they cause it? Do not tell me they don't have the intellect to look down the road a short bit to understand what it is they wrought with their orders. Aren't saved lives more important than money to run government? Or is it lives saved are only more important than the common citizen's livelihood as we were told when the orders came down?Gov. Gavin Newsom, who ordered the country’s first statewide stay-home order March 19 to slow the 'virus’ spread, hinted at the mounting economic toll of shutting all but essential businesses.“These numbers are jaw-dropping, and it is alarming,” Newsom said in his daily news briefing, recalling that it was just January when he announced a $6 billion budget surplus. We may be we were all lied to . OR Gov. Newsom like Donald Trump and the rest of the Federal Government was making its estimates based on an over infalted , over estimated data . AS AGAIN On March 18, the governor wrote a letter to the president stating, “We project that roughly 56% of our population — 25.5 million people — will be infected with the virus over an eight week period.” Apparently the governor also believed that the case mortality infection rate was at least 1%, meaning there would be at least 255,000 deaths in California. At any rate Gov. Newsom over reacted . The worse part is he spent a billion dollars traying to get medical grade face masks by cutting a deal with a Chinese manufacturer 👉“"Newsom $1B mask deal too fragile to disclose?" While a year ago , perhaps going back to 2018 , there was a lot of unchecked spending on the state level that coincided with increased taxes. The idea that California had a rainy day fund , or surplus can't be believed . AS Newsom acknowledged all of that has disappeared “in a blink of an eye” as he walked back many of his January proposals. Will it has been 3 months , Newsom's frighting projections turned to fizzing out like a bad batch of soda . So what else is wrong with California? Answer now its not the virus but it's budget .
Fake Covid Victims?
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| George Stephanopoulos a victim of COVID -19 ? seen self isolating taking a walk , just where is his mask??? |
Mysterious Childhood inflammatory illness?
Besides having to deal with fake media celebrities on televison claiming to have the virus.There is a new twist to the COVID-19 scare that is now going full swing just to frighten parents . Several anecdotal reports have noted that some children with this strange inflammatory syndrome show similar symptoms to children with Kawasaki disease, which is a childhood illness that triggers inflammation in the blood vessels and can cause lasting heart damage, according to the National Organization for Rare Disorders (NORD). Well lets suppose that the Childhood inflammatory illness is not COVID -19 after all , it's REALLY Kawasaki disease ? I often had that in mind , you know in this day and so call "new normal" that "they" are finding new ways to scare us , to keep you locked up. CNN did a report last week that COVID-19 can be transmitted by sexual intercorse. That story was a whopper of a story from fake CNN !!! It's like the media outlets , those behind it are just pushing outlandish material to make the Coronavirus as some sort of living creature that mutates like some monster that is out to get us, so far the symptoms are no longer like the flu , but more like the bubonic plague. The Idiots are trying to make it appear far more deadlier than it really is . Look I am not mocking the Children who may have suffered Kawasaki disease it's a serious illness that has been around for a long time. It's the sheer magnatude how the virus now is weaponized as a tactic spreading fear .So far the medical report goes on that " Physicians are calling the condition a "multisystem inflammatory" disease that appears "Kawasaki-like," meaning it shares some symptoms with Kawasaki disease, including high fever, skin rashes, and in some cases, heart inflammation, Live Science previously reported. Some of these symptoms also appear in toxic shock syndrome, a life-threatening condition caused by toxins produced by certain types of bacteria". So is this COVID-19 related ? Probably not , its seems like everything is now COVID-19.
The NEW ABNORMAL "NORMAL"
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| Long Lines at retail stores. Forget it if you want to get inside . |
Just what the HELL you call the "new normal"? Well ist not NORMAL when your trying to get into a store like Target and you have to get stand in long line that goes for miles , because of the social distancing most stores are only letting a few people at a time . For the last two days of observation at Target I saw people getting in a line that seems to grow , and the store emplyoees taking orders . As more parts of the country reopen businesses, many retail workers have reluctantly turned into de facto enforcers of public health guidelines, confronting customers who refuse to wear masks or to maintain a wide distance from others. The risk of a violent reaction now hangs over jobs already fraught with health perils.At Target you will also notice staff wearing gloves and masks over the next two weeks as the company steps up its coronavirus protection measures. Masks have been recommended by public health officials as a key way to diminish the spread of the coronavirus, with at least a dozen states requiring them and many others issuing a hodgepodge of county or municipal orders. They have also turned into a flash point in the country’s culture wars, with some defending their right to not wear one Many people are choosing to stay home and order groceries online, but that's not an option for everyone as long lines at some Target's prove.Stores will now allow no more than five customers for each 1,000 square feet at a given time, roughly 20 percent of a store's capacity. It's slowing down the economy at best , not the virus? BUT doesn't management help out with long lines?NO!
Bailing out Wall Street Again.
So we've been talking about this pandemic what the financial ramifications are going to be in a stimulus bill that gives crumbs to the citizens of the United States but a four point two five trillion dollar bailout to big companies on Wall Street isn't gonna make it any better it's gonna make it worse it's actually gonna be the biggest theft worse than that then what happened ten years ago from the housing crisis under Obama this is gonna be worse and you know who's saying it the head of Blackrock a wave of bankruptcies surging taxes and Americans harboring lasting scars from coronavirus lockdowns the head of the world's largest asset manager warns of a grim outlook this is actually in market watch and was reposted in Yahoo Finance this came out May ninth this is pretty nuts the CEO of one of the world's largest asset managers cautions that everyone should brace for even rougher days ahead now we're three weeks away from another month of people paying rent who large portions of them can't because they're not working and I know some people are getting unemployment and that's great I haven't I mean even if you got you twelve hundred dollars what's that supposed to do this guy might know a thing or two about this I mean he's one of the corrupt problems in this country but black rocks chief executive Larry Fink interesting last name forecast a dour near-term outlook for the economy as states and businesses grapple with reopening from kovat nineteen this is the thing I've talked about a lot if you watch my mmt playlist what is so the federal government can just issue currency and and finance whatever they want local governments are dependent upon tax revenue and some money and if they get any money from the federal government so like take a state like California where I live while tourism is shut down all these companies are shut down nobody so the state of California makes its money on income tax and sales tax and property tax mainly but mainly income and sales tax so if nobody's working income tax goes down if nobody's buying anything it is already is it a fifty three billion dollar shortfall the state of California and the state of California very wisely several years ago under Jerry Brown set aside an extra little tax thing to fund a rainy day fund for the state of California we have twenty five billion dollars in an emergency fund for this very type of thing that's great but even that is not enough - it still only takes care of half of the shortfall so what's gonna happen and then when people okay sure you can't get evicted or foreclosed upon but some companies and pork and landlords are not giving a about that and even if you go back to work after not working for 3-4 months you still have three or four months of back rent or mortgage and how much debt did everyone is everyone having to wrack up if they're not working think speaking privately with clients of a wealth advisory firm yeah privately and they found out about it outlined an unattractive future in which the economy continues to weaken bankruptcies soar and Americans consumers taxes on corporations and individuals would eventually need to be raised to finance the trillions of dollars in economic aid that has been doled out by the government in the federal reserve butjust keep the seven wars going you know just keep spending seven what is it seven hundred and sixty three eight hundred billion dollars a year on war just keep doing that keep giving the bank's imagine if that 4.25 trillion dollars didn't go to banks and big corporations but it went to the States and to individuals what if the federal government went to California and in all 50 states cuz all states are gonna have some typeof shortfall California's probably gonna be bigger because California has 45 million residents and it has an as the 5th largest economy in the world but any state Delaware Omaha you know Nebraska whatever it doesn't matter every state's gonna have a shortfall that's what the federal government should have done gone hey states here's money for unemployment - your services - all this stuff what are cities and states gonna do oh we can't afford to pay overtime for the police department or whatever already talking about they're having a city meeting about cutting services this is a city with a decent amount of money but one of its big revenue streams istourism it has all these nice hotels on the beach they're empty man they're this big nice outdoor mall and downtown the Third Street Promenade it's empty some of the stores are finally opening it's empty man 2 months we've had the whole economy shut down the outbreak leading to the biggest drop in gross domestic product in the first quarter since 2008 indeed the first reading of GDP for the first three months of 2020 20 point 2 million jobs were lost in April according to payrolls processor ADP Inc down 0.9% more than 30 million people have applied for jobless benefits in the past six weeks that's 10 almost 10% of the total population is about 330 million people living in America but a lot of those people are not more thereunder children they're under 18 or they're retired they're senior citizens so that's the workforce is probably I don't know what somewhere between 150 and 200 million people let's say it's 200 million people. Democrats and Republicans that Levi Strauss and you know Stanley Black & Decker laying off all these employees and then giving millions and tens and hundreds of millions of dollars in stock buybacks to their the big shareholders we have a broken system and it's gonna screw us all over you think what happened in 2010 is six million foreclosures that's nothing that's romper room compared to what's gonna happen now they're gonna scoop up homes they're gonna scoop up small businesses people are are if they get Cova 19 and go to the hospital for 2-3 weeks that's the other thing it's gonna start happening people went to the hospital they survived it they're better they're doing better and they had insurance they're gonna get a 10 a 20 a 30 thousand dollar medical bill in the next couple of months and then what they weren't working for three months they haven't paid their rent in two three months now they got twenty thousand dollars in medical bills with it having insurance what's gonna happen another bailout for Wall Street when does Americans gonna wake up something is wrong with the economic system of our nation and something is wrong with capitalism maybe Americans should move toward a democratic socialism like system , but that would be too much . Now we must develop programs that will drive the nation to the realization of the needs of the people first.
NOTES AND COMMENTS:
(1)>>Lockdowns have hurt a number of States in America . Many states expect their revenue to plunge by 15 percent to 20 percent because government-ordered lockdowns have wiped out much of the economy and caused tax collections to evaporate. That puts statehouses billions of dollars in the red for the fiscal year that usually begins in July, with no end to the crisis in sight. The nation’s governors have petitioned Congress for $500 billion in direct funding to help address lost revenue. Without this aid, the states — which, unlike the federal government, cannot run budget deficits — will have to start slashing costs(2)>>In California the Democrats blew the hole in the budget. Just prior to the 2020 "pandemic" there were signs that California's budget was not as rosey as it was claimed . Spending had risen . In investigating the January $214.8 billion spending plan, the state inched closer to universal health coverage, expanding Medi-Cal to all low-income young adults regardless of immigration status. State lawmakers also charted a course to increase tax credits to the working poor and boost subsidies to middle-income Californians to buy health coverage. There were significant investments in early education and housing, also, while a portion of the surplus was diverted to pay down pension liabilities.[infoembed size=”half” override=”” align=”right” padding=”light”] The state may have hiding a huge fiscal bomb waiting to explode .
