American Recession

[akdiver 3]

http://abcnews.go.com/Business/Economy/Sto...8877&page=2

Recession Nation: 49 States at Risk

In March, Five States Were in Recession; Now There Are 30, With 19 More at Risk

No state is immune from falling into a recession, except for one: oil-rich Alaska.

Now - Texas, Louisiana and Oklahoma all have oil - and a better grade of oil than Alaska has too - so, why do they single out Alaska as being oil-rich?

I thought this statement was interesting:

"The state governments are an exercise in irresponsibility. Through the property boom, they enjoyed the increase in people's assessments," Morici said. "They are just not structured to handle the cynical movements in their revenue the way they should be. "Just like companies, municipalities can behave irresponsibly in good times, not shore up any money for bad times and then go crying to the federal government when they need cash," he added.

Ah well.

[IAMX 3,055]

Alaska

Population: Less than San Francisco

Land mass: Greater than Texas

Resources: Plenty (for now)

Conclusion: They'll be prosperous for some time until the sustainability of the profiting from resources no longer becomes viable. They're pretty reckless about how they treat their environment (and the way they give money out for free and keep taxes pretty much non-existent shows how fiscally responsible they are) so I imagine they'll eat things up fairly quickly. Since the goal is profit, get a small little vacation house, go rake in some profits in Alaska, then bail when #### hits the fan there.

[akdiver 3]

Conclusion: They'll be prosperous for some time until the sustainability of the profiting from resources no

Well, duh. Given that natural resources are all we have in this state, your statement should surprise no one (:

They're pretty reckless about how they treat their environment

Really? I gotta hear this one. Go ahead.

(and the way they give money out for free and keep taxes pretty much non-existent shows how fiscally responsible they are)

Um..yeah - unlike Texas and other oil producing states, Alaska had the sense to create a sovereign wealth fund - which was ranked 17th in the world last I looked. Doesn't sound like something a fiscally irresponsible entity would do. Edited November 8, 2008 by akdiver

[IAMX 3,055]

Conclusion: They'll be prosperous for some time until the sustainability of the profiting from resources no

Well, duh. Given that natural resources are all we have in this state, your statement should surprise no one (:

They're pretty reckless about how they treat their environment

Really? I gotta hear this one. Go ahead.

(and the way they give money out for free and keep taxes pretty much non-existent shows how fiscally responsible they are)

Um..yeah - unlike Texas and other oil producing states, Alaska had the sense to create a sovereign wealth fund - which was ranked 17th in the world last I looked. Doesn't sound like something a fiscally irresponsible entity would do.

Kinda need a few people to work, don't you? Makes no sense if no one lives out there. Free money is always an incentive. Now Alaskans expect it. Texans don't really get free money, they get help on education, which we get out here in California as well, without oil.

Well, you live in Alaska so if you really don't know the resource exploitation and how it harms the environment (animal species, marine species, trees, bees, etc.), dunno what to tell you. However, I'm hedging my bets there's largely apathy from your corner in regards to it anyways. I don't expect it will be long before drilling goes full force in the ANWR, either.

Edited November 8, 2008 by SRVT

[Niels Bohr 72]

akdiver is pondering whether to move there or not.

[NickD 203]

It beats the hell of me in WI, governor comes out and says due to decreased tax revenues is short 3 billion bucks on the budget. I wonder how in the hell this state was run 30 years ago. Total car gas tax was 8 cents a gallon with great roads, today, over 50 cents a gallon, property taxes were around 4 bucks a thousand on assessed value, today more like 26 bucks a thousand, sales tax was 3% but on on shipping costs, many services, food, or clothes, today 5 1/2 % on everything. We had great schools, far better than today, great state parks, but would charge you a buck for camping, today, more like 30 bucks. Garbage pickup that would pick up anything, if you have a small TV set or monitor, today have to pay 30 bucks to get rid of it plus drive it there yourself.

They talk about having to cut back on services, what services? Only thing I can think of is garbage pickup, police are worthless, had to spend a lot of time with my kids because the schools aren't teaching anything today, even home schooled one, the list goes on. Did write my governor to ask him what changed in the last 30 years, while he normally replies, never answered this letter. I sure ain't getting any of my tax value back, but somebody is. Haven't the slightest idea who that is, but really feel I am getting screwed. Even a lot worse in Illinois.

[Reba 2]

What's the population of WI compared to then? What's the cost of goods and services compared then to now? How many homes have gone into foreclosure and owners are living elsewhere, ergo not paying their property taxes? How many business have closed their doors and now they're not paying taxes?

The good ol' days are gone.

[DanielParul 50]

Its a cycle and its 'depressing'