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1. No, not ALL employees recieved such a letter. SOME were layed off,
some are going to be paid only min wage until a new budget is passed. The
question is passing a new budget, nothing to do with the economy or
finance per se (although of course the economy makes budget negotiations
even harder to make tough choices). BTW, all layoffs and min wage
will recieve their full back pay once a new budget passes. Its really a
free vacation for those laid off. Also, this is old news ... the
intention to proceed this way was announced as far back as 6 weeks
ago.
2. Things are bad? yeah, 2.3 % growth last quarter ... in real
speak that is what was called moderate and healthy growth thruout the
80s. Only the bubble econonmies of the 90's and 00's have grown
faster at a sustanined rate.
3. A lot of the pro investors and tech traders see July 15 as the market
bottom and the lows will not be retested as we cycle up into a new bull
market. You forecast is bold and I congratulate you in sticking
your neck out. Time will soon tell.
Boater805
At 01:58 PM 8/2/2008, you wrote:
everything is
REALLY bad
all employees of california state recieved a letter telling them not to
come to work monday
and, if they do
they only get min wage!!!
mkt should come hard down with this news
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