9.4% Really Means 12%

Official national unemployment published rate 9.4%. We all know that really means 12%.
Bernanke is giving early warning signals of trillion dollar a year deficits and (oh what a surprise) long term interest rate increases, and this means (read between the lines) Inflation folks. Meanwhile Geitner is overseas being laughed at by the Chinese as he tries to convince him our T-bills are still good.

The hard edge of this recession looks like it hasn't arrived yet, but here it comes. As if things weren't hard enough out there. Here in California the governator has announced that "the wallet is empty" with plans to cut summer school, home care for the elderly, all welfare, work fare and food stamp assistance programs and who knows what else. What will out of work people do when they can't even get food stamps? Time to clean your gun.

California only needs 24 billion or so Washington, can't we siphon a little of that tarp money off to save a whole state? GM got 30 billion for God sakes. California is looking at being bankrupt by July-and oh yes, water rates just doubled as well as car registration fees. Thank you legislators.

Where are the jobs? Time for some 'New Deal/WPA projects. San Diego needs a near-shore airport extension, California could use an aqueduct from water rich Washington State, what about the wind power grid? Let's get something going already big O.

In the mean time, jobs will more than likely be created slowly, as they always have from the innovative entrepreneurial fabric of of real Americans starting or running small businesses. Look around my fellow gringoes. There are lots of needs that need fulfilling on a local basis. I recently ran into a guy who had started a business cleaning out foreclosed houses to get them ready for auction. I was sorry to hear that he was as busy as he could be.