Godlike Productions - Conspiracy Forum
Users Online Now: 1,327 (Who's On?)Visitors Today: 587,991
Pageviews Today: 739,736Threads Today: 169Posts Today: 2,638
07:22 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

7 US States That Are Worse Off Than Greece, Portgal, Ireland, And Spain

 
Anonymous Coward
User ID: 883154
Canada
02/05/2010 02:45 PM
Report Abusive Post
Report Copyright Violation
7 US States That Are Worse Off Than Greece, Portgal, Ireland, And Spain
This is only getting started folks!

[link to www.businessinsider.com]
The inevitable coming of the sovereign debt panic finally engulfed Europe this week as the derisively (or perhaps affectionately) named PIGS spilled their slop on the continent. But Portugal, Ireland, Greece, and Spain are hardly worthy of so much attention. In truth, they are little more than the currently favored proxies among the leveraged speculator community (cough) for the larger problem of all sovereign debt. Indeed, the credit default swaps on these smaller European satellite states were not alone this week in making large moves higher. UK sovereign risk rose strongly, and so did US sovereign risk. With a downgrade warning from Moody’s to boot.

Notable among three of the PIGS are their relatively small populations, and small contributions to either world or European GDP. While Spain has a population over 45 million, Portugal and Greece have populations roughly equal to a US state, such as Ohio–at around 10 million. And Ireland? The Emerald Isle has a population similar to Kentucky, at around 4 million. While the PIGS are without question a problem for Europe, whatever problems they present for Brussels are easily matched by the looming headache for Washington that’s coming from large, US states such as California, Florida, Illinois, Ohio, and Michigan.

I’ve identified seven large US states by four criteria that are sure to cause trouble for Washington’s political class at least for the next 3 years, through the 2012 elections. These are states with big populations, very high rates of unemployment, and which have already had to borrow big to pay unemployment claims. In addition, as a kind of Gregor.us kicker, I’ve thrown in a fourth criteria to identify those states that are large net importers of energy. Because the step change to higher energy prices played, and continues to play, such a large role in the developed world’s financial crisis it’s instructive to identify those US states that will struggle for years against the rising tide of higher energy costs.

The seven states to make my list are California, Florida, Illinois, Ohio, Michigan, North Carolina, and New Jersey. Each has a population above 8 million people. Each has had to borrow more than a billion dollars, so far, to pay claims out of their now bankrupt unemployment insurance fund. Also, each state currently registers broad, underemployment above 15% as indicated by the U-6 measure for the States. And finally, each state is a large net importer of either oil, natural gas, electricity, or all three of these energy sources
Anonymous Coward
User ID: 758025
United States
02/05/2010 03:20 PM
Report Abusive Post
Report Copyright Violation
Re: 7 US States That Are Worse Off Than Greece, Portgal, Ireland, And Spain
moderate doom!
RedSheDevil
Logical Geek

User ID: 641806
Canada
02/05/2010 03:26 PM

Report Abusive Post
Report Copyright Violation
Re: 7 US States That Are Worse Off Than Greece, Portgal, Ireland, And Spain
Excellent observation..

Put into perspective that in 2005 and 2006 those states were considered in the top for growth and wealth and "bubble" up status.. you will see them go down first and hard..

Those areas are where the panic will ensue. all you need is some essential services to be cut with regards to energy and services.. Those areas are prime to riot..

Who would think Carolina a riot state.. :)
I really am not nearly as interesting as I should be but I certainly will try to find interest in nearly everything I can be. self quote.
Anonymous Coward
User ID: 857236
United States
02/05/2010 03:26 PM
Report Abusive Post
Report Copyright Violation
Re: 7 US States That Are Worse Off Than Greece, Portgal, Ireland, And Spain
Never trust someone with the last name macdonald or can't spell portugal! :damned
GraftedPromise
User ID: 870586
United States
02/05/2010 03:54 PM
Report Abusive Post
Report Copyright Violation
Re: 7 US States That Are Worse Off Than Greece, Portgal, Ireland, And Spain
.
... BUT ... the reality of the u$ofa is WHATEVER PeBO says it is ...
.
aCorn

User ID: 801787
United States
02/05/2010 03:55 PM
Report Abusive Post
Report Copyright Violation
Re: 7 US States That Are Worse Off Than Greece, Portgal, Ireland, And Spain
all is gonna be ok

:avsocialis:
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Frédéric Bastiat

food, water, ammo, weapons, battery back up solar, hand well pump, wood stove and 1 year of food...oh yeah PM's too...good luck

News