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economy
what happens to most college students after graduation?
The 18-34 year-old demo is one that grew up on great wealth and what we're facing could be the first real financial jolt we've seen. Sixty-five percent of college seniors plan to live with their parents after they graduate. When you consider that they also have an average of three credit cards and 73 percent will graduate with student loan debt, that makes sense. From a college student who has no savings, to a recent graduate trying to move out of his parents' house, to young people who are trying to stay afloat living on their own, this half-hour takes a look at the personal side of our economic crisis.
UC Berkeley is broke and has over $100 million of red ink
Six weeks ago, UC Berkeley faced a $67.2 million budget gap for 2009-10. Amid California's budget crisis which puts the state on the brink of bankruptcy, that anticipated shortfall has now grown to $145 million. The recently-enacted 9.3% student fee increases and other revenue-enhancement measures that become effective July 1, have reduced the $145 million gap by about $30 million, which means that UC Berkeley is still short $100 million. The budget situation is so servere that the Chancellor and Provost of the University of California just sent out the following urgent email this afternoon to all students, staff, faculty, and alumni at UC Berkeley...
In summary, this is what's expected to happen to UC Berkeley this upcoming academic year... Read more
revolution, food shortages, higher education myth, and what to do?
The following few videos I recently came across are extremely disturbing. Gerald Celente, a legendary trend forecaster who has accurately predicted every major world event since the 1987 stock market crash and the fall of the Soviet Union and CEO of Trends Research Institute, is now warning Americans (and the world) to prepare for a broad economic collapse, potential bank holidays, ghost malls, civil unrest, food riots, and possible revolution by 2012. The only possible salvation is a new technological innovation as revolutionary as fire or the wheel. Read more
who gets what? Obama's stimulus infrastructure spending by state
Click on any state for details on likely spending projects. The funds listed are the state's total allotment for roads and bridges. The projects are those each state will likely recommend for funding to the U.S. Transportation Dept., which has the final say. There is additional federal money for mass transit, Amtrak and water projects. The job creation numbers are rough estimates.
Obama's stimulus plan and state of the economy
In a previous article "Why Our Economy is Heading Into A Depression" I wrote at the beginning of February, I made the case for why I think the economy will worsen and enter into a depression based on numerous market indicators and opinions by economic experts. Almost three weeks later and after the recent passage of the heralded Obama $787 Billion Stimulus Plan, market news and experts continue to suggest the forthcoming of a depression. Here's an updated snapshot of the progress of our economy...
1 in 7 homes in Santa Clara County is "underwater"
This is pretty shocking... A recent news report shows that 1 in 7 homes in my hometown (San Jose, which is part of Santa Clara County) have property values "underwater" as a result of the current housing recession. In other words, 1 in 7 homeowners' home values are below what they owed on their mortgages.
Here's a map showing areas of Santa Clara County most affected by homes going "underwater" (click image to enlarge). I am from 95120, which has been minimally affected. Not sure why but most of the hardest hit areas happen to be on the east side. Go figure.
