People wonder how California does it. How do they run a quasi-socialist nanny-state, with the greatest amount of poor people in the country, free health care for illegals, etc... and still have a big surplus?
The answer is because they are, for now, at the center of our Federal Reserve inspired, printed money debt bubble. Those $ Trillions of QE and massive debt, fed by near zero interest rates, are flowing through a few spots in Coastal California at the moment, mostly because of their legacy. How long can that last?
I hadn’t ventured in to Cali other than driving around Tahoe for decades. Last April we went to a fundraiser for a friend of mine in Ventura. I expected real nice highways and even secondary roads. WOW! Man was I shocked. Where’d they spend the road funds? We found a few stretches that were pretty nice but overall, not so much.