John Judis offers a very thoughtful overview of the ways that the present economic crisis repeats that of the 1930s. There are some differences though including the changed nature of the world economy. And given the ongoing policy mistakes of international economic and political leaders those changes mean that things might end up worse than the 30s.
Contrary to the ideologists of hi-tech, the outsourcing of hi-tech jobs is a huge driver of US trade deficit and a serious contributor to high unemployment.
The latest Anderson Report suggests that inland California will lag behind in whatever recovery the State manages. Without building and population growth inland unemployment will continue to be high. But Anderson doesn't believe that either the state or the nation will fall back into another recession. Of course that presumes that we aren't in one already.
2/3 of Californians oppose the automatic trigger cuts that were written into the state budget.
SJSU students protest being displaced from campus housing by large entering class.
Legal proceedings for Berkeley March Protesters continue.
Closing arguments in the Irvine 11 case are moving towards completion. Defense attorneys defend the students' free speech rights. Of course the Prosecutor doesn't like that argument.
In addition to his call for some tax increases, it seems that Obama's deficit plan does include serious cuts to Medicare and Medicaid.
The IMF is now worried that policy makers in Europe and the US have bought into Neo-Liberalism too much. When the IMF thinks you are too neo-liberal you really think it might give policy makers pause.