Discussion in 'Economy' started by Jeremy, Jul 27, 2010.
Damn it feels good to be a gangsta!!
N Dakota, Alaska lead US job creation, study says | Reuters
Greetings from Las Vegas! (current 14.5% official unemployment rate).
During our boom years here of the 90's and early 2000's, Nevada blew it by not diversifying the economy here. Periodically, there were calls back then to diversify, away from having an all-eggs-in-one-basket tourism/gambling based economy, but our political/economic leaders never took diversification seriously. Their mantra for not doing it was that Nevada had survived all previous recessions okay, and we had.
As a result of, this semi-depression/great recession, whatever you want to call it, has thrown this state for a loop. Remember, Nevada has no state personal income tax. So the vast majority of taxes come from property/retail taxes/and casino taxes, that are the lowest gambling taxes in the U.S.. Now, being not just the unemployment, but, also having been the foreclosure capital of the U.S., and with no signs of a greater recovery appearing here, we're fukked.
Homeless tent encampments appeared here well over a year ago and continue to grow. The media, for all intent and purpose, ignore the growing homeless problem here. Local gov't here in Vegas has 7 'cool-off' stations open during the oppressive summer heat during the day and they close around sundown, where the homeless return to their washes and desert encampments.
We very well may be the first state to go bankrupt, as the great recession hit us first, and if and when the rest of the country recovers, we surely will be the last to recover.
And here we have da Prez and his droogs doing all they can to stymie oil and gas development in the U.S. Oh wait - these Alaska and ND jobs were created by massive subsidies to the energy industry. Nevermind...
And don't forget the benevolence of Harry Reid got us ranked 50th in federal funds.
Hmmm.. imagine if more effort was placed on increasing the domestic supply on a national scale.
It's only an imagination (akin to a mirage) under the next 2.6 months of this administration.
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