A cave with all the amenities of modern life such as a kitchen, laundry room including a party room was made available on eBay.

This cave house was originally a 17,000 square foot cave used as a roller-rink/concert venue that entertained MC5, Ike and Tina Turner and Ted Nugent. It is situated in Festus, Missouri and it was turned into a unique home by the Sleeper family. The house has three bedrooms, a laundry room, storage and spare bath plus three freshwater springs and fourteen waterfalls. And now, it is being auctioned on the website where the starting bid is $300,000.

According to Curt Sleeper, he and his family, like so many others, are victims of the economic crisis. So that the can stay, the family is hoping to raise enough money. However, in case they fail to do so, they will give it up. “We don’t want to move, but we need to protect our equity. We put everything we had into this home,” he further stated.

The family has been seeking bank support by means of mortgage refinancing. Unfortunately, the same has been unsuccessful.

California Governor Arnold Schwarzenegger is in the news today.  He recently announced through a spokesman that the state will begin laying off 20,000 workers starting Tuesday.

“In the absence of a budget, the governor has a responsibility to realize state savings any way he can,” said Aaron McLear, a spokesman for the Republican governor. “This is unfortunately a necessary decision.”

The announcement came a day after California lawmakers almost failed to pass a $40 billion budget that would have plugged California’s deficit with tax hikes and spending cut backs.

The lay-off notices which will be handed out this Tuesday will affect roughly 20% of the entire state’s government workers.

To conserve cash, California has had to pull the plug on various government projects, postponed sending tax refunds and has given its state workers two days off a month.  California is the United States’ most populous state and is the world’s 8th biggest economy.  Since the economic crisis, they have experienced a big decrease in revenues because of unemployment, decreased consumer spending and housing downturn.

All positions will be eliminated by June in preparation for California’s fiscal year which will begin in July.

More and more stores are expected to downsize operations this year.  Circuit City, Linens ‘N Things and Mervyn’s have already closed shop.  Experts are warning the public to expect more closures as the recession tightens its grip on US economy.

Stores like Gap, Starbucks and Lane Bryant probably won’t file for bankruptcy but financial specialists say that these companies will be close to one.  Consumers are simply refusing to spend their hard earned money and retailers are all fighting for a dwindling market share amid loose credits and low interest rates.

This trend will continue for quite some time and will unemployment can only last for so long, it will take some time for consumer debt loads and credit access to recover.

“I don’t think we will live the same way for 10 years,” says Howard Davidowitz, Chairman  of Davidowitz & Associates, a New York based retail consultant and investment bank.  “People are so scared they’re starting to save.”

He says retailers at risk in 2009 include: Eddie Bauer, Pacific Sunwear and Zales.  The three stores have already began closing outlets last year.  More closings are expected as the year wears on.  Charming Shoppes which owns Lane Bryant has already closed 150 stores late last year, is expected to close 100 more outlets this year.

Even stores like Sears and KMart are expected to feel the economic pinch.  Already, value is down 30% and the slump in sales will push the number even lower.  Companies like Sprint Nextel and Starbucks are also expected to close outlets.  Sprint because of their narrow target market and Starbucks because of prices.  Other high-priced stores like Mrs. Fields’ Cookies, Applebees and Cheesecake Factory are also expected to feel the economic slump as consumers will  begin to favor more thrifty alternatives like McDonald’s.