I’ve been reading for decades that CA is on the verge of economic collapse. Yet they are the 6th largest economy in the world by GDP. So something must be amiss in these predictions.
It is like so many on FR consider it a hellhole. If it is, and if the law of supply and demand holds true, then why are rents and home prices so high in the Bay Area, den of marxism and degeneracy that is supposedly is? If it’s so anti-business, why is the unemployment rate, at least in my deep deep blue area, low, especially for anyone with tech skills?
Personal opinion- the vast majority of citizens are moderate and sane; the MSM (and plenty on FR) pay orders of magnitude more attention to the loony .02 percent. For every protester you see at Berkeley there are hundreds of normal kids studying, working second jobs and living normal lives.
> I’ve been reading for decades that CA is on the verge of economic collapse. Yet they are the 6th largest economy in the world by GDP. So something must be amiss in these predictions. <
Yeah, I’m scratching my head on that one too. I’ve also read that CA is one of the largest “giver” states, in that it sends more money to DC (in taxes) than it receives from DC.
Maybe CA is just moving by inertia these days. Maybe we’re missing something.
It is their debt on bonds, coupled with the pensions and the unfettered flow of illegals that will kill them. Ticking time bomb as more and more retire and more come in on the dole.