Latest cost estimate I've seen is nearly $100 billion. (By comparison, the entire annual Cali budget is just over $200 billion).
The first segment? Joining the metropolises of Madera (nowhere) and Bakersfield (nowheresville). Driving time between the two towns is less than 2 hours. Even if a train took less than 45 minutes (unlikely), the total trip would be about 2 hours, counting all the parking, ticketing, terminal stuff, etc.
Who wants to ride the Bullet Train? Nobody. I've lived here in the Golden State for decades, I know zillions of liberals, and nobody has ever said to me that they would willingly ride that thing. Nobody!
The train promises to go from S.F. to L.A. in less than 3 hours, is this possible? Nupe. Even if it didn't stop at the 6 or so stops, one seriously suspects that it's not going average anywhere near 200 mph (and that's on a good day. Trains are always late, always).
The Dems think that at least there will be a jobs benefit, which we conservatives know to be nonsense. The opportunity cost of the loss of 100B will cost more jobs (and cause more business emigration) than any temp union jobs to build the thing (which will never be completed, anyway.)
I could go on...
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Most of the substrate along the route is clay. Methinks the passengers will get the heaves.
The whole point of this gambit is for investors to play "pump and dump" with the applicable penny stocks and real estate affected by the project. Richard Blum is one of the biggest players in this game.