Posted on 07/15/2017 6:07:49 AM PDT by Mariner
Frustrated about unaffordable housing or clogged freeways? Think of it as the price you pay for living in one of the world’s largest economies.
California’s economy ranked sixth in the world in 2016, according to rankings released by Palo Alto economist Stephen Levy on Friday. That’s the same as the year before, when California overtook France and Brazil. But the state’s economy isn’t stagnating; California’s economy is growing so quickly that Levy thinks the state will overtake the United Kingdom this year for No. 5.
Levy, head of the Center for Continuing Study of the California Economy, said the rankings are evidence of the state’s vigor in the aftermath of the recession. As recently as 2010, the state had fallen to 10th in the rankings and some policymakers were wondering, “Are we losing our mojo?” Levy said.
More broadly, he said the rankings show the state is prospering despite a host of problems.
“It does say we’re doing well,” he said. “It does say that despite the housing, despite the transportation challenges and despite the air quality, we’re kicking (butt).”
Although there have been signs recently that the state’s growth rate is slowing, California’s unemployment rate fell to 4.7 percent in May, the lowest in nearly 17 years. The June figures will be released next week.
Levy calculated the numbers from World Bank estimates released earlier this month and the U.S. Bureau of Economic Analysis, which breaks down state-by-state economic output. The U.K.’s economy totaled $2.62 trillion, with California at $2.60 trillion.
(Excerpt) Read more at sacbee.com ...
I have no use for NY. I never criticize those who dump on NY. I hope to move to ‘America ‘ someday. You should consider doing the same.
Ps. As an alternative I would suggest splitting the very large state in two. Leave the coastal Lefty counties to their devices.
Having left California a year and a half ago, my only comment is that the author is delusional.
Uhhhhhhh...You might want to rethink that.
I knew that wasn't true.
So I went to look it up.
Found this on Wikipedia:
"As of 2014, 33.0% of electricity was imported, and of that, 45.4% was of unspecified origin."
https://en.wikipedia.org/wiki/Energy_in_California
33% seemed high and I never take Wikipedia as gospel
So I found this
http://www.energy.ca.gov/almanac/electricity_data/electricity_generation.html
California grand total power generation plus imports. 295,405 gigawatts.
California instate power generation 196,194 gigawatts
Almost 100,000 gigawatts, about 33%, is imported to California.
CA is fueled by Tech companies. Sooner or later the federal and state governments will turn their loving ways fully on these companies. So far they have escaped, unions, anti-trust, EEOC, OSHA, etc. They get almost a complete pass because they espouse all the correct leftist causes.
But their revenue will be too hard to ignore. Then bye bye CA. Then their pensions, enviro laws, lax law enforcement will come cashing down hard and bury them.
5th largest economy? Not for long. The democrats are driving business out and raising taxes to unheard of levels.
Yep, sure did. The question is "What did he step in?" He was nullified by The California Deep State and they have two pieces of his anatomy in a glass jar to prove it. Just a trial run for Trump.
If it is so good why are not thousands of people moving there?
Great weather won't save the state. Beirut, Latakia, Antakya and Algiers have a similar climate, but no one wants to move to any of those places.
They are - wetbacks looking for welfare
As well as their debts Ca is so far in debt it will never recover hell they can’t even repair their roads.........
I have a hard time believing this.
California (the state itself) is broke, yet somehow continues to spend more and more and more. (I’m guessing this is because of Federal grants.)
On the other side, California has one of the most hostile business environments in the country. Even Hollywood is fleeing the giant taxes.
I think the booming California economy is just a myth.
Then they shouldn’t be taking ANY government money
But we have a different picture if we look at U-6 unemployment numbers.
California U-6 is 11.1%
Only Alaska 12.9%, Nevada 11.9% and New Mexico 13.0% are worse.
If a company is big and politically connected, the effects of that are greatly mitigated. It's only the smaller companies that get crushed. Crony corporatism at its finest.
“Best advice for someone calling themselves a Conservative living in CA. Leave now. It isn’t worth the nice weather.”
Nope.
Stay, fight and kill for the best land in the world.
The White man is still best at that.
The idea being to increase unemployment even more?
I’ve been corrected.
Your FACTS are questionable, but then, moved there in ‘58, left in ‘94. http://californiapolicycenter.org/californias-total-state-local-debt-totals-1-3-trillion/
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.