To some, Larry Ellison’s $200 million reproduction 16th-century Japanese emperor’s estate in the hills above Silicon Valley sums up everything wrong with America’s out-of-control real estate market. Imagine how upset Ellison’s critics became this week when they found out that the the world’s 14th-wealthiest person had negotiated a 60% tax break on his property. As a result, his local assessor’s office is sending the 63-year old $3 million.

Ellison won the tax break by essentially arguing that he had squandered money on Larryland, and would never be able to get his investment back. Ellison said that the property had suffered from “significant functional obsolescence” and was therefore worth $64.7 million, not the $166.3 million on record (substantially less than the $200 million it cost to build).

Larry’s 23-acre Japanese emperor estate property ended up featuring a 2.3-acre man-made lake filled with drinkable water, 2,000 tons of imported Chinese granite, a waterfall with a built-in fog machine and an on/off switch, several miles of underground tunnels for domestic staff, a 30-ton boulder in the master bedroom shower, and a replica 16th-century bridge that was built by craftsmen in China.

Workers in certain industries can have more comfort in knowing that, even if they are fired, there is so much demand they should be able to find another job very quickly.

Talk of a recession and creeping unemployment rates are enough to make you wonder: Where can you find stability in unstable times? Kiplinger consulted career experts and combed through job trend data to come up with five industries that should provide safer havens to workers, no matter what the economy is doing. No matter what field you work in, you have the possibility of losing your job. But there are things you can do to protect yourself and increase your odds of getting another job, just in case.

Healthcare  
Many of the nation’s fastest-growing careers are in the health care industry, according to the Bureau of Labor Statistics. An increasingly aging population fuels demand in this field. Some specific jobs with stable prospects include doctor, nurse, pharmacist, physical therapist and physician assistant.

Education
Teachers for any grade level who specialize in high-demand fields such as math, science or bilingual education should have an easier time finding and keeping a job. And the outlook for college instructors looks stable, too. College enrollment is rising as the number of 18- to 24-year-olds increases. Some areas of the country are more stable than others for teachers because education jobs follow population trends. So teachers in fast-growing states in the South and West, such as Nevada, Arizona, Texas and Georgia, will have more opportunity than in slower-growth areas in the Midwest and Northeast.

Security
Crime doesn’t stop in a recession. That makes security jobs, such as police officers, detectives, private security guards and international security experts, a good bet. Layoffs in this industry are rare. In the off-chance law enforcement officers lose their jobs to budget cuts, they have little difficulty finding jobs with other agencies because demand is so high.

Environmental Sciences
The current “green” movement reaches far beyond changing your light bulbs to fluorescents. It’s also translating into a solid career choice. The BLS expects environmental careers, including ecologists, hydrologists, environmental chemists and others, to grow 25% over the next decade.

Government
Some of the most stable jobs around are within the federal government, where firings and lay-offs happen at just one-quarter the rate in the private sector. One reason: Even in hard economic times when big businesses are forced to downsize, the government must carry on. And only one in every 5,000 non-defense workers is ever fired for poor performance each year. Crazy odds! Due to an increasingly aging workforce, the government is doing a lot of hiring lately, especially among the 20-something crowd.

With No Summer Job, What Are Teenagers Going To Get Themselves Into

Nearly half of hiring managers say they have no plans to hire any seasonal workers this year, according to a study of 1,100 companies released today.  When asked why they wouldn’t be hiring, 31% of those polled said they didn’t have the budget. During the recession of 2001, the teen employment rate plummeted maintaining that teens are typically the hardest hit group during tough economic times. 

Adding to the problems is the growing number of older workers going after traditional teen jobs in retail and food services, and also the increase in illegal and legal immigrants vying for those jobs.

Overall, the numbers of teens working in the United States has been on the decline, as parents from all socioeconomic groups have wanted their children to focus on academics and extracurricular activities instead of paying work. This summer, enrollment in enrichment camps and travel plans may decline because of the economy, and that means more teens potentially looking for work.

Acknowledging A Loss Is The Most Difficult Thing To Do

Americans owe a staggering $1.1 trillion on home equity loans — and banks are increasingly worried they may not get some of that money back. To get it, many lenders are taking the extraordinary step of preventing some people from selling their homes or refinancing their mortgages unless they pay off all or part of their home equity loans first. In the past, when home prices were not falling, lenders did not resort to these measures.

Such tactics are impeding efforts by policy makers to help struggling homeowners get easier terms on their mortgages and stem the rising tide of foreclosures. But at a time when each day seems to bring more bad news for the financial industry, lenders defend the hard-nosed maneuvers as a way to keep their own losses from deepening.

When borrowers default on their mortgages, lenders foreclose and sell the homes to recoup their money. But when homes sell for less than the value of their mortgages and home equity loans (a situation known as a short sale) lenders with first liens must be compensated fully before holders of second or third liens get a dime. In places like California, Nevada, Arizona and Florida, where home prices have fallen significantly, second-lien holders can be left with little or nothing once first mortgages are paid.

People with weak, or subprime, credit could be hurt the most. More than a third of all subprime loans made in 2006 had associated second-lien debt, up from 17% in 2000. And many people added second loans after taking out first mortgages, so it is impossible to say for certain how many homeowners have multiple liens on their properties.

As our economy worsens, middle-aged Americans move in with their parents.

Taking shelter with parents isn’t uncommon for young people in their 20s, especially when the job market is poor. But now the slumping economy and the credit crunch are forcing some children to do so later in life — even in middle age. Financial planners report receiving many calls from parents seeking advice about taking in their grown children after divorces and layoffs.

Parents “jeopardize their financial freedom by continuing to subsidize their children,” says one financial planner. “We have a hard time saying no as a culture to our children, and they keep asking for more.” Plenty of well-meaning parents must delay retirement or scale back their dreams because they have to help their children.

A new survey by retiree-advocacy group American Association of Retired Persons (AARP) found that one-fourth of Generation Xers, those 28 to 39 years old, receive financial help from family and friends.

Dysfunctional capital markets, frantic central banks, stressed-out consumers, fear and uncertainty — all these are alarming echoes of the global economic cataclysm of the 1930s. Which raises the inevitable question: Could another Great Depression be lurking over the horizon?

On the surface, there are some disquieting parallels between economic conditions in the early 1930s and those of today. There was the popping of an enormous asset bubble — stocks then, housing now. And, as in the Great Depression, the financial system is in disarray. It was symbolized back then by the failure of thousands of banks, mostly small local outfits — 2,300 in 1931 alone.The parallel today is the crippling ofone-time giantssuch as Bear Stearns Cos., Countrywide Financial Corp. and Ameriquest Mortgage Co.

But there are vast differences between the 1930s and today. U.S. unemployment reached 25% during the Depression; last month it was reported at 4.8%. The worldwide industrial economy was in a shambles in the ’30s, thanks to World War I. Today it is coming off a global boom.

“I’ve been asked many times whether we will have another Great Depression,” says David M. Kennedy, a Stanford University history professor and the author of “Freedom From Fear,” a Pulitzer Prize-winning history of the Depression and World War II. “My standard answer is that we won’t have that one again — I’d be surprised to have one of that seriousness and duration. But that doesn’t mean we wouldn’t have a catastrophe we haven’t seen before.”

Economists and historians say the most important difference between today’s economic environment and that of the old days is the governmental response.

Have you ever flipped through a Men’s Health magazine?  

The book, “Eat This, Not That!” by Men’s Health editor-in-chief David Zinczenko writes about food choices at favorite restaurants, supermarkets and holiday items. The book includes a clever ranking of the country’s 20 worst foods in various categories. Here are some of them: 

The cost of filling up the family car climbed to a record high Tuesday.

Gas prices at the pump rose overnight to a record national average of $3.2272 a gallon, according to AAA and the Oil Price Information Service. That’s a tad higher than the previous record of $3.2265, set last May. Still, because gas is so expensive, analysts expect demand for fuel will rise more slowly this spring and summer than in previous years.

Prices have already passed the $4 mark at many stations nationwide. The effect can be seen in states such as California, where prices are consistently 30 cents higher than the national average.

Those with net worth of $1 million to $10 million reshape U.S. culture

• Middle-class millionaires now account for 10% of the U.S. population.

• 7.6% of American households, or 8.4 million households are middle-class millionaires

• The average middle-class millionaire works 70 hours per week

• Middle-class millionaires are five times more likely than the average worker to say they are always available for work

• 89% believes that anyone can attain wealth through hard work

• 62% believes that networking, or knowing many people, is the key to financial success

• 9 out of 10 middle-class millionaires say they made a bad career or business move, but almost three-fourths say that was crucial to their business success

• They are five times more likely than the average middle-class person to continue on in the same business course in spite an earlier failure

• 65% of middle-class millionaires characterize their approach to negotiating as “doing whatever you need to do to win“

• They say they need a net worth of $24 million to feel wealthy, and $13.4 million to be considered rich.

There Are No Excuses For Why You’re In Debt

Self-deception and a lack of control are the chief reasons for many poor spending decisions, and whiny explanations about wasteful purchases are nothing more than excuses for bad spending behavior.

1.  I could die tomorrow, so I’ll live for today. This immature attitude justifies actions of the buy-it-now and pay-for-it-whenever class. It’s the primary excuse for not saving money.

2. I work hard, I deserve it.  While it is true that many Americans are overworked and that you have to treat yourself occasionally, self-gifting is more prominent today because of advertising pitches to buy things “because you deserve them.” You also deserve to live out a retirement.

3. I don’t have a head for numbers. This is the excuse given for not paying attention to personal finances. Managing money doesn’t require complicated mathematics. Consumers now have a plethora of free online tools to help with all sorts of financial planning.

4. I’m too busy to compare prices or manage money. This might be true for a small fraction of people, but mostly it’s a lie. Shutting off the TV one night a week will provide most people plenty of time to manage their finances. For those truly time-strapped, consider hiring a good financial adviser.

5. It’s an investment. Most consumer purchases aren’t investments, because almost all of them plummet in value the moment you leave the store. So you don’t “invest” in a car, a plasma TV or a new pair of shoes unless somehow they’ll make you money. They are expenses. Calling them an investment is self-delusion.

6. I don’t earn enough to save money. Saving is not about what you earn, it’s about what you keep. If your paycheck truly covers only the cost of bare necessities, you have an income problem. It’s time to work more hours or earn more with the hours you work.

Families moving out of apartment complexes, schools reporting enrollment drops, business owners complaining about fewer clients. What’s going on?

While it is too early to know for certain, a consensus is developing among economists, business people and immigration groups that the weakening economy coupled with recent curbs on illegal immigration are steering Hispanic immigrants out of the state. The state has enacted one of the country’s toughest laws to punish employers who hire illegal immigrants, and the county sheriff here in Phoenix has been enforcing federal immigration laws by rounding up people living here illegally.

State Representative Russell K. Pearce, a Republican from Mesa and leading advocate of the crackdown on illegal immigration, takes reports of unauthorized workers leaving as a sign of success. An estimated one in 10 workers in Arizona are Hispanic immigrants, both legal and illegal, twice the national average.

Although prosecutors in the state do not plan to begin enforcing the sanctions against employers until next month, several employers have reportedly already dismissed workers whose legal authorization to work could not be proved, as required by the law. Property managers report that families have uprooted overnight, with little or no notice. The Cartwright Elementary School District in west Phoenix, for instance, reported a loss of 525 students this school year. Maybe this is another reason why.

Britain Bows To China 

Beijing Olympic organisers said Monday they backed a ban on political protests by athletes attending this year’s Games, amid uproar over an effort to silence British athletes. China is believed to be concerned that some of the 10,000 athletes expected here for the Games could be used by human rights activists and other groups to stage protests designed to draw attention to their causes.

The controversy erupted in Britain after a Sunday newspaper reported that the British Olympic Association (BOA) had threatened that any athlete who refused to sign the gag order would not be allowed to travel to China. Basically, any British participant who signed the order and then spoke out during the Games would be sent home, according to the initial plan.

Prince Charles has already let it be known that he will not be going to China, even if he is invited by Games organisers.  His views on the Communist dictatorship are well known, after this newspaper revealed how he described China’s leaders as “appalling old waxworks” in a journal written after he attended the handover of Hong Kong. The Prince is also a long-time supporter of the Dalai Lama, the Tibetan leader.

The controversial clause in the contract stated that athletes “are not to comment on any politically sensitive issues.” It then refers to Section 51 of the Olympic Charter, which says, “No kind of demonstration or political, religious or racial propaganda is permitted in any Olympic sites, venues or other areas.” Issues considered politically sensitive in communist-ruled China range from human rights, religious freedom, Tibet, Taiwan to Beijing’s role in Sudan.

The BOA took the decision even though other countries – including the United States, Canada, Finland, and Australia – have pledged that their athletes would be free to speak about any issue concerning China. To date, only New Zealand and Belgium have banned their athletes from giving political opinions while competing at the Games.

The government’s efforts to stimulate the U.S. economy by doling out checks to workers could backfire, according to two surveys asking consumers what they will do with their checks.

Nearly three-quarters of those asked on both surveys said they will either pay down debt or save any money sent to them as part of an economic stimulus package. The remaining quarter indicated they would spend the money, which is the goal of the program. So that’s $25 billion, not $100 billion, and it’s not clear how quickly it will be spent. What’s more, money that is directed toward lenders, be it to pay off mortgages or credit-card bills, is money that’s already been spent. In other words, it’s already done its job in helping the economy.

International Council of Shopping Centers  found that 46% of respondents said they would mostly pay off debt with the checks while another 28% said they would save the money. Both surveys found that the results didn’t differ across income levels.

The rationale behind the stimulus, which is primarily aimed at lower- and middle-income taxpayers, is that those with less income are more likely to spend the money on things they might not have been able to afford otherwise, such as big-screen TVs or new clothes. That in turn would boost economic activity and help the U.S. avoid a recession.

This is madness. As our infrastructure crumbles and our nation devolves into an uneducated, uncivilized social wasteland, we continue to amass trillions of dollars in debt creating bomb craters in the sands of Iraq.  If this continues, we will follow in the footsteps of all previous corrupt, immoral empires.

Why Americans Are Going Broke 

Times are bleak for the U.S. consumer. The average household owes 20 percent more than it makes each year. The personal savings rate is in negative territory. Record numbers of Americans are losing their homes to foreclosure, and millions more are struggling to keep up with their monthly bills and obligations. And the nation’s economy isn’t in much better shape.

The government is counting on recipients not to save it or put it toward debt but to do what they’ve done best over the past 30 years: spend it. NEWSWEEK’s Jennifer Barrett spoke with author Stuart Vyse about the wisdom of such a stimulus plan and why it’s getting harder for so many Americans to stay afloat.

NEWSWEEK: You say the common assumptions about why Americans can’t hold onto their money are insufficient. Why?
Stuart Vyse: The most common assumption is that people are irresponsible and that they are not wise about their money. It’s basically victim blaming … an attempt to shift the blame onto individual consumers. The other point of view on this issue is that it is primarily the fault of predatory lending practices–the “evil” credit-card companies. One of the most important factors is the easy availability of universal credit.

The House and Senate have passed economic stimulus packages that include rebates to taxpayers, which the government is encouraging them to spend. That seems like an irresponsible message for taxpayers who have debt or no savings.

Why is it assumed that the poor and middle class are likely to spend the rebates? Because, under normal circumstances, they are the ones who have less disposable income. If you are on the lower end of the curve, you are more likely to need the money for immediate expenses.

Why wouldn’t they save it or put it toward a debt?
If they are smart, they would. The problem for most who are seriously in debt is that $600 or so doesn’t amount to much. So what can consumers do in a world designed to encourage them to overspend? Using techniques from behavioral economics, it helps if you can make saving automatic. I also recommend automatic monthly bill payments. Split your paycheck into two with some going into a bill-paying account in which you have no ATM access, and the rest should go into another account that would house your disposable income.

What would you propose the government do to help reverse the trend in consumer debt?
One of the most important things is to promote savings … and obviously we need reasonable limits on credit.

If consumers actually saved money and paid off their debt, could it hurt the U.S. economy?
One reason we have all these problems is that we are supposed to. It drives our economy. If everyone had no debt and was into saving, then our economy—as it is designed today—would not be performing as well as it should, according to economists.