If California is a bellwether, we should be the first out of this too.
Besides, seems like the financial health of the state should be irrelevant if the employer is solid. Just do us all a favor and rid of your car before you come here. All major California cities have a halfway decent public transit system if you plan your life (live near transit) around using it.
if you plan your life (live near transit) around using it
He probably did. LA has light rail, heavy commuter rail, express busways and regular buses. While big parts of the metro aren't covered by useful transit, there's definitely enough areas that are.
Live light, save, save, save, live in Oakland or Dublin and use the BART time to read or something; consider riding a bicycle and ditching a car. Just live like you're poor and save as much as you can.
"Stagflation is an economic situation in which inflation and economic stagnation occur simultaneously and remain unchecked for a significant period of time."
I just asked him and will put reply in this post, but I'm assuming that the difference is that stagnation seems to be zero growth, and depression remains negative.
[update]Here's what he sent me:
Pretty much the same thing.
However, in the 1970's stagflation, there really was a more supply and demand driven component to inflation with extra pressure from wage growth.
In our current situation, I see a huge component of deflation coming from credit and housing, and the inflationary component comes/will come via the currency. Compared to the 1970's this is less messy, in a way. it's very clean. Classid deflation from a burst credit bubble, and then classic currency-based inflation via lost purchasing power.
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[ 5.4 ms ] story [ 29.9 ms ] threadBesides, seems like the financial health of the state should be irrelevant if the employer is solid. Just do us all a favor and rid of your car before you come here. All major California cities have a halfway decent public transit system if you plan your life (live near transit) around using it.
He probably did. LA has light rail, heavy commuter rail, express busways and regular buses. While big parts of the metro aren't covered by useful transit, there's definitely enough areas that are.
And isn't that what Stagflation is meant to refer to?
http://en.wikipedia.org/wiki/Stagflation
"Stagflation is an economic situation in which inflation and economic stagnation occur simultaneously and remain unchecked for a significant period of time."
[update]Here's what he sent me:
Pretty much the same thing.
However, in the 1970's stagflation, there really was a more supply and demand driven component to inflation with extra pressure from wage growth.
In our current situation, I see a huge component of deflation coming from credit and housing, and the inflationary component comes/will come via the currency. Compared to the 1970's this is less messy, in a way. it's very clean. Classid deflation from a burst credit bubble, and then classic currency-based inflation via lost purchasing power.