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San Fran Fed Blames High California Unempolyment And Rising Poverty On Highly Efficient Workers
For the past three years we have been pounding the table on one very simple fact: when it comes to jobs, there is a quantitative picture, which is often muddied by seasonal adjustments and political narrative but which the mainstream loves for the simply, clear plotline: "the US created [ ] jobs in the past month", and there is a qualitative one: one which takes into account the far more important quality of the jobs created in the US economy in whole or in part (such as in various states). It appears this simple logic has finally trickled down to those masters of the obvious at the San Fran Fed who have just released a paper titled "Job Growth and Economic Growth in California" whose summary is as follows: "California job growth over the past two decades has been relatively anemic compared with gains in the rest of the country. Nevertheless, economic output has grown faster in California than in the rest of the United States. One factor underlying this pattern may be the growth of higher-wage jobs in California, which has contributed more to output than to employment growth. This creates relatively few opportunities for low-skilled workers, which may help explain why poverty increased more in California than in most states over the period."
What this means in English, is that California businesses realized it's a buyers market, and hired exclusively "overly productive" workers, paying them bargain basement wages, as a result generating higher then normal economic output, while underqualified workers got the shaft, or extended benefits and disability as the case may be.
More from this profoundly, profound, and taxpayer-funded paper:
Evidence suggests that the reason California has experienced faster economic growth than job growth is that employment has shifted to high-wage industries. Slower job growth, particularly in low-wage industries, is a potentially important problem if it implies fewer opportunities for less-skilled workers.
A related concern is the growth in the poverty rate over this same period. California’s poverty rate adjusted for housing costs grew over five percentage points from 1990 to 2011, the third largest increase among all states (see Neumark and Muz 2013). Even excluding the Great Recession, California’s growth in the poverty rate still ranked 13th highest among states. This rise in poverty is consistent with relative declines in job opportunities for less-skilled workers. California’s relatively high economic growth combined with its relatively low job growth may have disadvantaged less-skilled workers, highlighting a key challenge facing policymakers. That is, the greater economic efficiency that helps spur economic growth sometimes comes at the cost of social equity.
In other words, the SF Fed has caught up not only with common sense, but with the flipside to what our argument from December 2010 implies: that in a world in which temp-workers comprise the bulk of the marginal hiring at the national level for purely optical and political purposes, the economy is doomed to stagnate and generate an ever lower standard of living for the average person.
This is delightful: it means that after a few hundred million more in taxpayer funded research, the Fed will, some time in 2025, realize that QE was counterproductive all along and that it was the Fed whose constantly central-planning, micromanagement interventions were the cause for all that is wrong and broken with the economy. Or something that has been clear to most with a frontal lobe since March of 2009 when the first monetization program was launched in earnest.
We jest of course: there will be no Fed in 2025.
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And of course the terrible state of goverment practicies in California have absolutely nothing to do with unemployment.
/end sarcasm
What this means in English, is that California businesses realized it's a buyers market, and hired exclusively "overly productive" workers, paying them bargain basement wages, as a result generating higher then normal economic output, while underqualified workers got the shaft, or extended benefits and disability as the case may be.
People are verrrry reticent to acknowledge this. Anyone who brings up this issue on zh gets down voted to death.
No... No... No...
~~~
Read the headline again... What it 'MEANS' is that if you hire LESS EFFICIENT workers... Employment numbers will IMPROVE...
From your keyboard to God's ears.
Optimist.
#FORWARD SOVIET
There's also something to the fact that a shitty economy will motivate marginal workers to produce more, for fear of losing their jobs.
Just spoke with Paul Krugman, and he suggests the following:
1) Increase the minimum wage
2) Eliminate unemployment insurance
3) Break everyone's right hand so productivity drops and more employees are needed
No more poverty! No more unemployment!
Quick - where is Harrison Bergeron?
The reason there are more poor, is because there are more rich! Silly, how could you not see that?
Since most people have NO idea about Kurt Vonnegut's amazing short story Harrison Bergeron, here is the link to read it, it's very short only two pages long, pretty much explains everything you need to know about feminism and statism:
http://www.tnellen.com/cybereng/harrison.html
P.S. you're still a crazy mofo for suggesting bitcoins since $18 million dollars in bitcoins sold reduces the price 60%, whereas it took a few tens of billions to affect the gold market as it did. I'll take the larger pool to swim in myself. Maybe when bitcoin maxxes out and it takes a shitload more money to crash it, we'll talk then.
"The reason there are more poor, is because there are more rich! Silly, how could you not see that?"
Make fun of it all you want, but one cannot state that EVERYONE can be rich. This is trick of carrot-and-stick that TPTB have trained us to play (to the point of producing the extremes such as the likes of Hollywood actors [top ones] and "esteemed" business leaders [like Bill Gates- better than that dweeb who cursed us with FB I suppose].
There are finite elements. No such thing as being able to make (this) "pie higher."
"They" control the game and you all are continuing to use their adjectives/adverbs, to measure against "their" system!
Sorry I forgot the sarcasm tag. I thought it was obvious. Any gold coins you own is one less piece of money they can't fractionalize. That is one way to play outside. You could also expatriate or get a second passport if you want to play the game on advanced level.
I thought it was "Melissa Moon Gompers" (Oh well)
Could also be a general shift toward business that on the whole pay less? Food production? If one were to pay attention to THE fundamentals of Food, Shelter and Water one would KNOW that such a shift is expected.
As wages go down the (relative) cost of machinery (and the operation of- energy) is likely going to go up. Deferred purchases on new equipment will mean increased maintenance requirements, more people fixing than designing/building new stuff!
Cheap energy helped us crawl up from the dirt. We're going back... rather than blame and kick and scream about it (which we can do little to go against) I've opted to accept it: folks can continue to chase after perpetual growth on a finite planet, and unicorns as they desire, but don't blame folks like me when you find that it's a false reality (and start blaming everyone and anything as to why it's not doing what you expect).
Thank you! My thoughts exactly.
Yes. Highly efficient workers, IN CHINA.
Thank godt, they didn't blame raising pigs on clover..., yet.
At this pace, anything sane or productive will soon be an enemy of the state.
Great book...a classic along with Heart of Darkness...my Dad used to read these books to me to put me to sleep at night....That's the best edge-U-kation I ever had.
My best education went unnoticed by myself until I started getting in to farming. My father subjected me, as a youth, to hell on a hobby farm. I often cursed about it. Now I curse at the things that I struggle with as I attempt to force my learning curve to go parabolic (a battle with time)- I've learned more in a couple of years than ever (at least meaningful things). BUT... I also acknowledge the benefits I've gotten from the Internet and all the usable data and research that many, who might have happened to have received a "formal education/training, have provided.
Tops will always be "critical thinking."
No ... No ... No
This means hire more government workers. In almost every sector govt employees are paid more and produce less.
This is THE KEY to all our worries. If 100% of the population were employed by the govt all our problems would be solved.
Immigration reform will help that on both sides - more H1B's for high skill foreign nationals willing to work for cheaper wages (you go Job's widow) and more underqualified to fill the public welfare rolls.
Called registering the unregistered Democratic voters
Yeah, one party pads their corporate affiliations by helping to produce cheaper labor* (and stomps on unions as they like to do) and the other gets more to pad their "poor" lobby.
* I suppose that in true free-market fashion this ought not be any sort of negative.
must.hide.inflation
must.hide.deflation - deflation signals decline in growth, not to mention eats "wealth" from TPTB
Deflation is forcing money from "Shelter" to "Food" (inflation on this end).
Reduced employment and wages tends to favor deflation as the correct diagnosis. Inflation would have more money flying around and more employment (and, possibly, higher wages).
TPTB fear deflation the most. The will do anything to NOT acknowledge it, hence all these BS stories (that sound good to the numb masses).
It's more must.counteract.deflation... The issue is that cheap labor is necessary to be able to afford anything... If it was domestically produced, then the cost of the final product would be insurmountable for americans... we decided to invest in our military and print the difference, hoping the soldiers would be enough of a deterrent to keep the charade going. Then, without anything to do any longer (jobs), we've been thrust into masturbatory distractions of all persuasions. Our only job being not to discuss anything substantive.
... while underqualified workers got the shaft, or extended benefits and disability as the case may be ...
For the sake of argument, let's just say your thesis is true.
I fail to understand why this is a problem? Is there something inherently wrong with those who like low prices?
Why should an employer hire "under qualified" workers when they can hire the best folks available for the job?
sschu
The SYSTEM is distorting who/what are "employers" and "employees."
"Low prices" is kind of an empty qualifier. China, through near-slave-labor, IS producing "low prices." This is all akin to mental masturbation as real costs for commodities is going to start exerting itself; at this point "wages" will be far more insignificant...
Don't get me wrong, I'm all for actual/real market forces to maintain things, but we're not in any way in an actual/real market, and much of what we're talking about mostly applies to/for the BIG corporations (because it's They who wish to frame this argument [their "low prices" will come in some fashion by way of externalization of costs, just as they've always done- if it's not wages then it's raw materials, or, environmental damage; in all cases the imbalance will pop up, setting us to "argue" about what it is, and always failing to acknowledge the elephant that is perpetual growth on a finite planet]).
Plenty of work in fag town plantng twolips and packing fudge.
As a whole, I have never ever met a bunch of lazier workers than here in the People's Republic of California. the private sector folks are OK. Work and laid back. But the Government employees out here (largely ex the fire, police and rescue who are pretty good eggs work ethic wise) are a bunch of sloth like lazy entitled hypocritical statists who'd just as soon raise taxes as get out of bed in the morning.
Highly skilled my ass.
You also mean, I take it assholes, that here in much of the nations fruit and vegetable growing region, the immigrant illegal labor fits your highly skilled definition?
Bbecause the good high paying jobs are leaving the state due to high taxes and burdensome regulations.
The fucking data tells such to be the case.
This is Paul Krugmnanesque type research.
Jesus!
ironic that-the ones in parentheses (that you could get people lined around the the block to fill those low-skill positions- cops,FF, EMTs at 1/2 or 1/3 or 1/4 the 200k salalry) are the ones that cause the high taxes
I have a liberal college buddy who works for the state govenrment in a department that will remain secret. He's senior and makes about $150,000/year and unbelievable benefits. All he does is post liberal shit and Obama shit on Facebook all day and I'm paying for it. Fuuuuuuuuccccckkkkk! We need to import some conservatives, take this shit back!
"Bbecause the good high paying jobs are leaving the state due to high taxes and burdensome regulations. "
It couldn't be because growth in sales is dropping off a cliff and that such entities are pushing into places like China in order to try and salvage margins?
Listen, I won't deny the negative impacts of taxes and "regulations" (though, when the financial sector fucks up left and right we're all about pointing out how they failed to abide by "regulations"), but there are SEVERAL other forces at play.
If you think that "high paying jobs" are essential for "success" then travel to D.C..
It's VOLUME and MARGINS. Much of the "left the area" companies are likely faltering tech companies. Most tech is R&D, relying on "new products" to stay a step above competition. When others are delaying purchases of new plants and equipment then those whose businesses depend on lots of R&D will struggle. Basic shit, like food and common (thus low margin) stuff tends to keep going because it's essential; as a result more discretionary spending drops off, which dries up more capital-producing opportunities for those in the R&D-heavy sectors.
Interesting export data for CA:
http://www.census.gov/foreign-trade/statistics/state/data/ca.html
Since CA is heavy into computers and that the world market demand for computers is plummeting I'd think that this is a fair harbinger and is more of the primary reason for CA's condition than "high taxes and regulations" (though, as I'd stated, I do NOT claim these as being inconsequential).
Easy, there, Ruffcut.
This is America. If some men prefer to stick their penises in and out other mens' assholes to achieve orgasm, then we Americans say that is just fine.
In fact, the Fed and our congress have been fucking all of us in the ass for 100 years, and nobody complains too much, so it must be ok.
All together now......."NOT THAT THERE'S ANYTHING WRONG WITH THAT."
Amen. Now get back in the bilge and continue rowing, you lazy bastards.
Hey Horseman, I've had my asshole sown shut and now shit out of my mouth I learnt on a south park episode. ONly getting dry humped like a monkey fucking a football and the occasional ocular penetration and I purchased a motorcycle helmet for that.
actually.. government workers are the sollution....
NEW LAW:
EVERY MANAGER IN THE PRIVATE SECTOR SHOULD HAVE LEAST WORKED FOR THE GOVERNMENT FOR 5 YEARS
that should fix the productivity issue...
At this point, the private sector and public sector are practically indistinguishable... the only private businesses left are those within a degree or two of separation from government largesse... everyone else has thrown in the towel.
One of the most meaningful contributions that I've read in this entire thread.
The entire web is fucked up. I blame it all on the notion of having to promote growth at any cost. The "defense" industry is a great poster-child.
From time to time I think back to Ross Perot's campaign for POTUS (I was cheering him on), that I later learned that a lot of his rise in business was due to the very govt spending that he was lambasting... It's SO fucked up that those who sense this can't even come close to nailing how fucked up it really is (it's so distorted that they tend to chase their tails more than chasing real leads).
Danke.
I believe this is the quintessential issue plaguing us from moving forward... everyone has benefited from the arrangement and now we're impotent to change. We simply cannot bring ourselves to admit our follies and vow to correct them in the future.
If you look at the protests in greece and elsewhere, what people are protesting for isn't an equal chance to earn a living... isn't a desire to have the boot raised from their throats or the whip stopped from striking their backs... no, not a chance. They're demanding more entitlements. The argument is thus, "we know that we agreed to depart on this voyage of moral hazard, but our bargain was foolish in that you've managed to steal and squander more of the treasury than us and we feel like we should be able to more equally destroy the country and share in its plunder." (a faustian bargain for sure). This is why I consistently joke to "wake me up when people are solely protesting to go to work." At that point, we'll finally be ready to roll up our sleeves and hoist the black flag so to speak.
As an anecdotal story, look at small town politics. How is it that you can get city tax increases despite no one being able to afford them and everyone understanding the long term ill effects of the measures? Pretty simple really... Everyone is dependent upon the success of governmental employees and the more money that flows through them, the more money that flows to private enterprise. As a result, the vast majority end up conflicted in their voting and choose to save the civil servants. [of course, the political maneuvering is always to cut essential services first and not any paper pushing busy bodies or ask any of them to work harder (actually work)]. Now apply this to the macro...
This is moral hazard... and it permeates everything if left unchecked for long enough.
These stupid bastards could at least admit that California is one of the most over regulated states in the union.
you got a permit to say stuff like that?
No, a license.
Does this cover the Enron fiasco?
Because it could neverrr be there horrible policy making.
http://ericsprott.blogspot.ca/
Shit, I hope the targeted hiring women to get that wage differential advantage!
FORWARD SOVIET!
Cut that fucking shithole off with a giant chainsaw and kick the thing out into the Pacific where it belongs.
MOAR Earthquakes NEEDED NOW
Sincerely ~ Dr. Paul Krugman [Nobel Prize #winning economist at large]
There are 2 Californias....the cesspools of the Bay Area and L.A......and everywhere else.
It reminds of a Tool song http://www.youtube.com/watch?v=D7ErpFBO7RI
Not in defense of CA, but isn't Silicon Valley, a major driver of CA's economy for quite some time now, in the Bay Area?
And, really, what big city isn't a cesspool? (all cities, by default, are NOT sustainable, it doesn't matter what State or Country they are located in)
I'm thinking that people just find CA a convenient scapegoat (the death of growth was always going to show up somewhere first).
What we really need is a bunch of conservatives to come live here for a year the year before the election. Then we can throw out the assholes in Sacramento and put 55 electoral votes in the conservative column!
California, always smarter than everyone/everything else.
Clearly, they are not talking about any state workers, especially in the Bay Area.
I'm doing my part to increase employment
this morning I did shit...
this afternoon, I went for a quick drink and I was half drunk after my desk...
I NEED AT LEAST 5 MORE ASSISTANTS!!!
nice onces...
chicks with big boobs... or short arms... whatever...
I'll call the first monday, second thuesday.... wednesday... thursday and friday...
and on saturdays I'll fuck my own wife and sunday is for resting...
Then why are we printing money? Wouldn't the solution then be to just cut off some arms and legs?
Yeah, there's nothing wrong with flesh wounds!
Wow, talk about irony.
comment corzined
WE NEED MORE.... you'll do just fine.... it's good for employment numbers...
..so in conclusion, we will put a ban on all new patents that add to greater efficiency so to be sure to have work for less skilled publicly educated workers.
I wouldn't be surprised if that actually happens, there were/are the luddities.
Change is terrifying, radical change even more so!
More "efficiency" maps to automation/robotics.
If there was anything that Marx was right about it's the logical outcome of employing more machines. I don't profess to have any "answers," but the consequences of other "answers" are all but clear.
No amount of "education/skill" is going to change the equation that we cannot have perpetual growth on a finite planet. Margins are being squeezed because we are unable to maintain volume-output (to match how scaled up we are- plants and equipment), ALL fundamentally attributable to there being insufficient PHYSICAL resources in which to generate growth (a lack of growth slaps down R&D budgets, things go into maintenance mode).
The needs of the future are shifting our skill sets. And when you're hungry I hope you don't continue with any diatribe about "less skilled workers," because: 1) You are probably way lacking in skills for garnering food; 2) Those that work in food production, as "unskilled as you might peg them to be," will become more plentiful.
The whip never lashed so good. Slaving away in CHINAfornia.
Hand built roads last way longer than those machine made roads. Long pick axes.
Depends...
Takes machines to transport materials.
I've seen shitty roads built by hand (Manila); and I've seen some nice ones built in the Netherlands.
I once built a road-grade walkway (pavers). A neighbor was warning me about frost heave (of course, after I'd built it!)- I just chuckled- it's been holding up perfectly fine for going on 2 decades now (and will probably last longer than the house).
... and chain gangs
oh, how i miss the good ole days
It wasn't a chain gang that was doing the work, but the road where my wife's house in Manila is I got to watch them do a LOT of the construction by hand. Saw guys running with buckets pouring water into the cement mixers (which, fortunately, we're electrically powered- likely tapping off some local electrical patch). Mind you, this was a ROAD! Some of it might have been due to the fact that it was a NARROW street with lots of traffic, but still...
And then I got to watch guys climbing on and working off of the most scary array of scaffolding that I'd ever seen, they were adding on another story to a house across the way. I'm figuring that as the change in demographics sets in the volume of such work is going to drop off...
Anyway, to those who scoff at "unskilled labor," MOST OF THE PLANET ->WORKS<- because of it! Those who don't understand this are likely reliant upon a way of life that requires only a small set of privileged people to operate (spin that Hamster Wheel faster, that is, unless you happen to by one of the masters that most froth at).
They should pass another bill. That always helps.
For the childrenz and stuff.
Don't laugh, my uber-liberal state employee buds think that'll solve the problem
They are also fans of Paul Krugman.
No, they don't dare raise those topics with me.
"For the childrenz and stuff."
In my old town I got to witness business teaming up with govt to build a public facility: I was one in opposition (took them to court). From many of the "other side of the coin" were also selling it all as such.
It's BIG that does the damage. And if it weren't govt it would be business. For the life of me I can't figure out how people can think that only certain human traits arise through power positions in govt: it's POWER! Lastly, all seems just fine until growth stops, and then everyone starts pecking away at each other (that public project was pretty much that, people trying to scurry to make a bunch off of this thing, of course, for the "childrenz and stuff").
Industrial/Information de-revolution bichez!
nothing about illegal immigration..when you ignore facts..your data is wrong...or when its politically correct..its not good info...
The reason for the illegal immigration is that those people can live in California, work for imn wage, and send money back home. The legal residents cannot figure out how to exist on free housing, free food, free healthcare and free phones.
"The legal residents cannot figure out how to exist on free housing, free food, free healthcare and free phones. "
Really?
Sorry, but that's all an excuse.
CA built up a bubble (like everyone else), and, because it's a good weather climate and has a long coastline, it's bubble was able to grow bigger. Whenever there is growth there is a rush of people looking for work- there will always be MORE people showing up than are able to be hired (that's how employers like it- competition). Boom times create lots of scrap jobs, and those at the very bottom pick these up.
Much of the "illegal" immigration push was set up by NAFTA. And lots of big food corporations were able to push across the border into Mexico to utilize breaks and to drive farmers there off the land and up into the US as cheap labor- talk about a BIG win. And, we already know about HB1 (there is NO hiding what that was about- this was mostly a device to bust up unions [I am neutral on this point because I think that the reason is less of a worry than the results, and the results tend to speak for themselves]).
Now that the bubble has burst there's even more of a scramble for the crumbs. The "natives" (ha! whiteys) were so far removed for so long from physical labor that it is They that end up in the safety-nets more so than the "illegals" (who also pay into SS and never get That back).
I implemented systems that improved efficiencies and lost my job in SoCal. No surprise tho.
"Systems" are typically about injecting efficiency into processes. This will always reduce labor (one need only understand the concept of "re-work" in manufacturing to know what better controls over production means- automation/machines tend to be more consistent).
"Nevertheless, economic output has grown faster in California than in the rest of the United States. One factor underlying this pattern may be the growth of higher-wage jobs in California, which has contributed more to output than to employment growth."
Wages are part of the costs of doing business, they are not an "output." Therefore, higher wages do NOT mean higher margins and higher economic output.
As usual, no one mentions the elephant in the room- robotics/automation.
CA's major export (revenue production) is Ag. Just WTF has changed Here? Nothing, other than, perhaps, exports to China? (more income from selling abroad than internally)
All of these fuckers just want us on the Hamster Wheel. Take Nancy Reagan's advice: Just Say "No!"
As usual, no one mentions the elephant in the room- robotics/automation.
Basically what is being said in the article. A lot of highly skilled people get paid to more or less babysit automated systems, or engineer them.
A LOT of boomers can't even open Excel. They're running the business sector in this state and they're not doing very well.
Just remembering while working a union job back in Chicago in my youth, when they use to warn me to not to work so hard whenever I had the silly notion of wanting to kick-ass and get somewhere in the company.
That's the spirit we need now a days ...
REMEMBER:
YOU AREN'T A FAILLURE IF YOU NEVER TRIED.
That's why there's so few fuckups... and than they land a CEO job or become president.
the bottom line is that there is an overcapacity of people so. in order to have a truly efficient economy with the best allocation of resources, people must be creatively destroyed. i can think of a few people who i would volunteer to go first.
Guess what fellas? We in India are not far behind . . .
http://articles.timesofindia.indiatimes.com/2013-04-14/special-report/38...
Higly efficient workers...it gets worse all the time with the digital illits! I just posted a really good speech given at Columbia by former Quant Cathy O'Neill..logic is the name of the game.
The layman can understand most of this too. She's talking models and that's what's either making or ruining things out there. You have to love what she says about hedge fund existence..there' to skim off retirement funds...one sentence. Modeling for inequality and segmentation...she's about as logical as you can get and honest. She makes no bones about educating the Occupy Bank group too.
http://ducknetweb.blogspot.com/2013/04/modeling-for-inequality-with.html
Is the Fed talking about these folks shown in the Bill Moyer expose about the United States of Inequality...see Google cafeteria workers living in tents..
http://ducknetweb.blogspot.com/2013/04/bill-moyersthe-united-states-of.html
yOU SHOULD RE-POST TAYLOR'S WSJ EDITIRIAL ON HOW QE IS COUNTERPRODUCTIVE, CAUSES MORE HARM THAN GOOD. BUT ONCE IT WAS TIED TO UNEMPLOYMENT, YOU REALIZED THEY JUST WANTED AN EXCUSE TO MAKE IT ENDLESS
Wasn't this report created while Christopher Dorner was still around?
Well, there you go, then.
"Industry's stated objective in each case has been to remove supposed bars to increased productivity. Labor's stand has been based on fear that, without protective rules, employers will seek to increase productivity by speeding up operations or by extending mechanization or automation without providing adequately for workers whose jobs are taken away in the process. "
Featherbedding, 1959. An old idea whose time has passed, but is now coming around again?
We're supposed to waste time on this horsesh*t?:
http://library.cqpress.com/cqresearcher/document.php?id=cqresrre1959110400
Thankfully California politicians proven solutions:
Why don't the nutters pass a regulation that does away with automatic telephone switches. No more Faxes or Email, all done by couriers on horseback, eliminate the pump it yourself gas stations. Oh, also outlaw the automatic milking machines. Only lovingly hand milked goats and cows in perfect California. Those are just the beginning of the possible Democrat solutions.
As a business owner in California I can attest firsthand to the thieving polititians in this state having their collective hand permanantly in my pocket.
People this is actually how America works.
The sheep are convinced to "work hard" because the benefits supposedly go to them. They in fact go to the bankers. The bankers then pay off the disabled/lazy/elderly, who end up living like princes.
So to sum it up:
Bankers = kings.
Dependents = princes.
Workers = serfs.
geez, could those Sanctuary Cities" where illegals are welcome have anything to do with it?
Attention CA: Just fucking shut up already.
This IS true. In Fremont, the latinos were whining that the Asians were making the curriculum "too hard".
Has anyone seen the quality of the California school system? Kids can get "straight A's" and score no higher than a 33% on the military ASVAB.
The boomers are also threatened by talent. Has anyone heard the coined phrase "toddler CEO" given to Zuckerberg? The majority of caucasians in this state are... BOOMERS. Most of them are realtors- who are democrats. And they SUCK.
ASians have the highest unemployment rate here, Asians are discriminated as an overrepresented minority. People are angry that Asians "have taken over the UC school system" which keeps it competative. IT's probably a few engineering talent and of course, ASIANS that put CIT as the #1 ranked university in the world.
Trouble is that Asians cannot carry the weight of the losers in this state. Neither can the business class. Hollywood is leaving. There were 19 IPOs last year, Sand Hill Road is a disaster.
Still they want 300% + property taxes to sponsor this. Trouble is that my roots are deeply ingrained in this state and I have no power to fix it.
It never mentioned that the finance sector in CA pays 10.83% in corporate taxes.
Everyone else pays 8%. Arnold Schwarzenegger was a dismal letdown.
S corporations pay something like 3%.Then independant contractors get krapped on.
California embodies the international community and produces the largest agricultural crops in the world- as long as stupid Pelosi and Boxer and the other ugly one stays out of the way. There should be a serious, crazy huge commodity/currencies market in LA. Or even ORange County or San Diego. SF is too stupid for one, they can't do anymore than entertain programmers with drugs and stupid politics (boooring!) The coders don't think enough of themselves to demand better, that's their problem.
Trouble is that the baby boomer voting majority screwed up this state ROYALLY. They can't even turn on Excel- the only thing they know how to do is flip real estate, steal from people in need of shelter, then forclose on real estate, get medicare sponsored botox "for migraines" or "medical" marijuana. Boomers contribute absolutely nothing of value in CA, people or even the canine kingdom. If you want service, you patronize Asians. Not the boomers or their kids working at Best Buy. The reason why California is a failure IS because of the people. There's more bullshit, bad actors (everyone out here is an actor, "I own a home...blahblahblah") and meth for what it's worth. They ruined paradise.
Even a dog knows not to shit in their own bed. Not the liberal carpetbagging UGLY ass freeloading flowerchildren and their crotch fruit. THey'll shit in thier own bed, then shit in yours. FIguratively speaking. The liberal carpetbagging trolls can all go home now! Maybe the tax rates in your states are good enough for hollywood to do business out there. Go ruin that shityhole that you came from. And take carpetbagging Pelosi with you.