Tuesday, January 19, 2010

And the fun just keeps on coming…

Sales of businesses in Los Angeles County fell to 3,769 last year, down 32% from 2008, according to a report released this month by the California listings website BizBen.com, which also tracks escrow closings. That decline follows a 33% plunge in 2008 and a 12% drop in 2007. Over 7,000 small businesses are up for sale in LA alone and similar numbers can be showed throughout the US.

Add to this the hundreds of billions in state-deficit, the unemployment numbers that are reaching ‘Great depression’ figures and the strange fact that Mexican immigrants are moving back to Mexico in larger number than ever before, and what do we have?

I think this guy have the right idea:

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