All the news that’s fit to ignore

October 12, 2009

One would think that the Los Angeles Times, the largest paper in Southern California and a respected national news source, would see fit to report on the massive underfunding of the Metropolitan Water District’s pension fund and on the managers’ efforts to increase that underfunding by $70,000,000 to pad their own pensions. One would think.

One would be wrong.

And they wonder why newspapers are dying.


Good job, Sacramento!

September 18, 2009

The Los Angeles Times reports today that California’s unemployment rate has reached 12.2%, the highest it’s been in 60 years:

Despite signs an economic recovery has begun in the state, California’s unemployment rate inched up in August, once again setting a new postwar high at 12.2%.

The state is one of 14 in the nation with an unemployment rate in the double digits, the Bureau of Labor Statistics reported this morning. Only Michigan, Nevada and Rhode Island, at 15.2%, 13.2% and 12.8%, respectively, have higher unemployment rates than California. The national unemployment rate in August was 9.7%.

California has shed 741,000 jobs in the last year, and the state’s unemployment rate has climbed 4.6 percentage points from August 2008. The state’s July unemployment rate was 11.9%.

Economists predict that jobless figures will continue to rise for the rest of the year.

The highest since World War II. Next stop, the 1930s. That will give the Mandarins of the Golden Dome something to aim for.

Business cycles happen, but there’s no way this was made worse by sky-high state taxes, regulations that drive up the cost of business and then drive away businesses (and the jobs they create), unsupportable spending, and crazed borrowing that sucks money into a black hole of debt repayment, all brought to us by a legislature long-dominated by progressive Democrats.

Nope. Couldn’t be. Nothing to see here. Move along.