Some things to think about (again)

The unemployment rate has been rising, even locally.

http://www.latimes.com/news/politics/la-fi-economy6-2008sep06,0,1992624.story

I haven’t heard recent figures for Pasadena, but among other things, the recent stories note:

California’s unemployment rate remains significantly higher than in most of the rest of the country, hitting 7.3% in July — a 12-year high. Unemployment is even higher in metropolitan Los Angeles, 7.5%, and is close to 9% in Riverside and San Bernardino counties, which have been slammed by the housing downturn.

Fannie Mae and Freddie Mac face possible fed takeover.

http://www.latimes.com/business/la-fi-fannie6-2008sep06,0,1703824.story

Fannie, Freddie takeover possible

Paulson discusses a rescue plan with the mortgage giants’ chiefs, who may have to step down, sources say.

By Peter G. Gosselin, Los Angeles Times Staff Writer
September 6, 2008

WASHINGTON — Treasury Secretary Henry M. Paulson Jr. called in top executives of Fannie Mae and Freddie Mac late Friday to hammer out details of a rescue plan for the troubled mortgage giants that could go so far as a full government takeover, according to people familiar with the effort.

Meanwhile, our electric and water rates are headed up and ballot proposals are asking us to tax ourselves to pay for transportation projects for METRO (MTA), balance the budget (if the lottery scheme won’t fly) and fund capital improvement in local schools.  and the statewide bond measures…

Paul