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Visualize Your State's Financial Collapse Better Than Ever
Just because wishing away local and state financial collapse doesn't work quite as well as it does at the Federal level (courtesy of everyone's favorite printer genie), attached is a terrific interactive chart from AP which helps in the visualization of unemployment, foreclosures, bankruptcies, and a composite “stress index”, by county and state. Don't miss the "play" bar at the bottom and the time scaling function at the top right (monthly rate vs change, annual).
h/t Chart Porn
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yikes
the only area in good shape is Sodom on the Potomac (DC)
someone call this guy... http://thechive.files.wordpress.com/2010/08/keffiyeh_throwing_cash.gif
Is that what the Detroiters mean when they talk about Obama money?
Talking about Detroit..does anyone think this will work :-
http://news.bbc.co.uk/2/hi/programmes/world_news_america/8890510.stm
I mean when things get really ugly how will they protect their crops
in an inner city area ? what would stop hoardes of hungry people from just " taking " what they need ?
That's what I noticed too. There's no shortage of lobbiest employment around here. Lots of traffic on K Street and on the hill.
Cool!
California's not brown enough.
pun intended?
Intended or not, it was funny as shit.
omg...who junks that? That's some funny shit.
How can this be?? The unemployed are all at the mall spending on Ipods!! Lies... the economy is strong!!
Breakaway nation-states
That's it, then... I'm moving to the nation of Nebraska.
I'm reminded of the phrase 'a rolling loan gathers no loss.'
Speaking of the state of public finance, I went on the US Treasury website to scope for jobs. When I left government service, I was a GS-12. Now, if you live in the VA-DC-MD area (like I used to), your starting salary as a GS-12 is $80k...for surfing the net 7.5 hours a day and 15 government holidays a year. How absurd.
Another phrase from the past. 'The last action of a failing government is to loot the Treasury.'
Sign me up... But I hear that commute is a pain.
Ah Imperail Country you show us all the way!
From the same web site:
http://chartporn.org/2010/08/02/state-budget-deficits-2/
Funny how the appetite for California Muni bond funds is voracious.
Eye-popping moves in many of them...
Babes made from wax, silicone and ceramic teeth...yum.
I'd tap that
Works for me.
Hey robottrader, which one of these gals is you? Judging by your avatar, I'll pick the one on the right.
Short?
Just got back from Fiesta in Santa Barbara. Methinks you might like it. Many future Robo-ho's roaming about half dressed ( as opposed to half nekkid)
Arnold may get a temporary reprieve from the Visigoths.
http://blog.creditlime.com/2010/06/18/illinois-cds-overtakes-california/
Don't worry about the state and county governments, Harry Reid has their back. As of this afternoon, in fact...
I want to see this same chart, instead of being broken out by county, broken out by school district rank/SAT scores/high school college attendance rates/some sort of education-linked metric. Now /that/ would tell you a much more compelling story about the state of the American economy.
Are you saying that the depression is affecting those who have only attained high school /GED's the worst?
I would agree with you, but a lot of small businesses are also suffering and I don't know that education explains that. I think a lot of careers and companies were built for a credit heavy environment....including those reliant on home mortgages, small business loans, credit cards, etc.
You are correct, that and much of our economy is consumer driven. When it's driven like that people need money and if they don't have it they subsidize it via refinancing, credit cards, borrowing and family. This type of funding was in response to the bubbles of the 90's and the 2000's. We should have had a massive recession in 2000 but Greenspan inflated the housing market again and it covered for salaries not keeping up with the fake low inflation over the years and the gutting of the industrial and now the intellectual base of the country via Nafta.
Our leaders sold us a bad bill of goods and we are paying for it now. This rumor of a writedown of mortgages owned by Freddie and Fannie isn't going to be as good as it my sound.
No, I'm saying that there's a strong positive correlation between income and education attained. There's also a strong positive correlation between employment rates and education attained. My point is, smart parents typically have smart kids, and tend to put them in schools that have high standards of and long track records of educational achievement (digression: I'd counter the argument of the rich getting richer with the smart getting smarter). In metropolitan areas at the county level, you lose this kind of resolution since populations aren't uniform.
I don't know for certain, but I can think of about 5 or 10 reasons why that would be a more telling metric of economic health than any other census data you could throw at a map.
I think you're right to an extent, but I think that ratio has begun to shift. As a bachelors degree is now the H.S. Diploma of thirty years ago, a sense of entitlement has gone along with it. Now we are to a point where in certain industries/trades, people who are willing to swill in shit are earning on par even with MBA's, let alone BA/BA's. As the economy worsens, It's getting easier to find help, but two years ago, it was a struggle.
Here is one correlation I noticed. Look at the more rural areas. Upper midwest, flyover etc.. Notice that in many of these areas unemployment is running about par with the national average, but foreclosures are WAay under.
Could one infer from that, perhaps rural people have an easier time living within their means?
It's because they all live in trailers, which are cheap and probably debt free.
That's kind of funny. The other thing about trailer people is that they have good senses of humor and aren't easily insulted by uppity remarks made by people from the west coast.
Wasn't an uppity comment, statement of fact. I work in rural areas a lot. First off, the populations are much lower. Of the folks that own land, many received the land they are on 4 or 5 generations ago from land or homestead grants, it stays in the family. This is a small minority, many of them wealthy ranchers or farmers. The people who are not part of those families are very poor, most live in trailers, a lot of them in houses they built themselves (log cabins) if they were fortunate enough to be able to get their hands on some land. So fuck you.
Also, there is nothing wrong with living in trailers, it makes economic sense if you don't earn a lot of money. I built my house myself on my rural land and I love my rural neighbors, we take care of each other.
First off, I was giving you shit. So fuck you back. Sorry I didn't use the sarcasm button.
We live in different rural areas so there are some differences, but many similarities. More middle class here. Plenty of trailers.
I have lived in one, and probably will again. The big advantage is that a trailer does not add value to your property. You pay a fee similar to plates on your car.
When I move full time onto my land I will put a double wide on it. Harder to tax me off of it then.
Ok, I don't disagree with you. My observation is that not only is there a positive correlation in housing prices to the quality of public schools, but that /there should be/ a negative correlation between quality of public schools and homeowner default rates. If the data suggested a similar depth/severity of default as among other school districts of significantly lesser quality, then that would tell you something: either leverage was a significant contributor to increased standards of living, or the unemployment we're seeing now is not only structural, but on a systematic scale. Because counties are made up of various school districts, and the variation inside each county from one school district to another can, and often is, quite large, I would argue looking at anything at the county level becomes distorted other than to compare directionality to other parts of the country.
As far as rural areas, I'm sure it has as much to do with cultural preferences for a cash economy, debt aversion (guessing here, but that's been my experience), and heirloomed real estate as it is the extent to which credit lending is avialable and the sensitivity these areas are to different business cycles. By definition, it isn't like rural areas experience a high degree of capital mobility.
there's nothing like visualizing misery.
Want to SHITE your pants...............
Go here, and see where Obamam is planning on saving the DEMS IN NOVEMBER......yes, again, off OUR backs.
UNBEEELIEVABLE.
http://jsmineset.com/category/jimsmailbox/
Here in Ohio, it's a tale of two cities.....Cincinnati continues to do alright anchored by P&G while Cleveland is in the shitter.....There's really no reason for the rustbelt cities to exist any longer....They really do need to be made physically smaller, creating more greenspace...
That's because Cleveland's economy was based on LeBron James... (go to youtube and search for the hastily made cleveland tourism video)
Hmmm . . . looks like the further you are from an ocean, the better off you are.
Apparently, sea breezes rot gray matter and turn your mind towards Progressive/Decepticratic idealism.
Wow, how could this happen!? Our economy was bought and paid for in the bailouts! I need to buy more gold!! And keep praying...
This picture is worth a 1000 points of stress. And as you move through time, it gets worse. Next year by inference, it will be all dark like NK and Dearest Leader has had its way.
How about 50 million points of stress (and counting) !!
Shovel ready.
It is apparent that the Christmas Eve, 2009 lifting of the $400 billion limit on Government Sponsored Enterprise mortgage lenders Fannie May and Freddie Mac is about to bear some extremely strange fruit as the flailing and foundering Obama administration pulls out all the stops in trying to salvage a November electoral victory in what up to this point is looking like an unprecedented midterm electoral disaster of historic proportions. Rumors are swirling about that as of August 17, when a "much hyped" Treasury Department review of the GSEs is due to take place, some $800 billion in the one out of five US mortgages that were sloughed off into the illimitable black hole of the GSE balance sheets are presently underwater may be subject to a Main Street bailout with "portions" of vast debt unloaded onto the exponentially vast government debt pile. With few options left other than a second round of QE 2, a recalcitrant and expendable Congress, a nation adrift in the murky waters of profound economic uncertainly and all serious economic indicators pouting due south, the Summers, Geithner, Bernanke economic dream team is reaching for one of the last life lines in the increasingly turbulent cataclysm engulfing the administration and the nation, hoping to buy some enough time to postpone the inevitable and outpace that giant suckhole of economic disaster long enough to make it to midterm.
http://blogs.reuters.com/james-pethokoukis/2010/08/05/an-august-surprise...
The center of the country is about the only positive out of this analysis. Straight up the gut and of course this section of the country still produces something of value. From Texas (oil/gas) through the Midwest (base food products) not sure if this is a coincidence or not but the basic needs of humans never really change or go away. The Carolina's are not bad but of course we have the tobacco play down south. As for California, maybe they can figure out a way to securitize the states primary assets including hemp, beautiful women, and wine. If some debt was issued tied to these assets I might bite.
You don't want to live in CA.
Trust me, senor.
collapse is inevitable........http://www.activistpost.com/2010/08/dare-to-prepare-collapse-of.html
Interesting SP500 chart ...
http://stockmarket618.wordpress.com
California doesn't have a deficit, after adjusting for differential taxation and transfer payments to the flyover rural areas.
What's interesting about that is that the transfer payments are mostly from upper income urban people in the metrocoastal areas to middle income people in the flyover areas.
Most of the upper income people have symbol analyst type jobs that are very, very, telecomuter and/or cluster based. They could immigrate in masse to Australia some Labor Day weekend. These people carry their lives and work tools in files small enough to fit on their USB keychains.
No more transfer payments for the flyover.
There are certainly a lot of details like that to take into consideration.I read and understand the entire article and I really enjoyed it to be honest.
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