Posted on 07/11/2018 8:19:42 PM PDT by SeekAndFind
When venture capital funds leave the Bay Area, it is over.
they are already leaving
Like all socialist governments, they will end up with the rich elite and those with connections to the leaders who all live in special economic zones, and a mass of people trying to make toilet paper out of the kelp that washes ashore and food out of the garbage of the elite.
gimme my free stuff!
You can’t have much of a discussion about the
impending California meltdown without including
the liberal high tech gurus and the Hollywood
Kingpins who are so proud of their handiwork.
The richer cities will hang on for a while yet but cities like San Bernardino have already disbanded their police dept. and contracted out with the Riverside County Sheriff dept.
This author may be right, but it’s a LONG way from now to failure.
CA is running a SURPLUS of over $10bil this year, even after all the extra spending. That’s on a budget of over $200bil. All debt payments are current and new borrowing is minimal.
State GDP is on fire. You have to hire trucks to haul all the money away.
That said, if they go after tech, ag and aerospace for more...this will go sideways FAST. Tech and aerospace can move.
They wouldn’t be dumb enough to kill agriculture, would they? This state is #1 in the nation in AG. By far.
Sadly, AG is usually the first casualty of communism.
And when it does, it will be capitalism to blame.
You actually haven’t driven the 5 and noticed the signs on the dried up fields that say ‘Congress Created Dust Bowl’? Or maybe they aren’t there anymore.....I haven’t driven that route in 9 years.
By the left I meant.
California will find some pretext to close its own borders so that people cannot leave the state.
I guess, but it’s been 15 years since I read articles about California being on the precipice of an imminent financial failure. Didn’t happen. Some of the same arguments were made back then.
Some things can’t be predicted timing-wise even though you are sure they will happen eventually. When will the Yellowstone caldera erupt?
Got my wife and kids out of Cali twelve years ago. We’re now firmly rooted and flourishing in Texas.
It’s like a whole ‘nother country.
Not there.
Drought is over. All fields in production. Many of the dead almond trees have been replaced with olives...the right crop in comparison. In the Sacramento valley it’s green for 200 miles north of SAC, and 75 miles wide. Same with the San Joaquin to Bakersfield. That’s another 300 miles and 75 miles wide.
There’s nothing else like it anywhere in the world.
This Big Valley is still the most productive farmland in the world, by HUGE margins.
It is not at all a long way to the city pension collapse.
Fort Worth in Texas isn’t looking too good either.
All municipalities in CA subscribe to the state pension system...CalPers.
That system is in trouble, but it’s not severe due to the flood of money here. One day...maybe.
But as with all pension systems, one day the working and living just refuse to pay. They say NO MORE.
In my city we have 7.25% sales tax. The city just voted in a 1% increase. I’ll be this becomes common.
WTF could possibly go wrong?
CA tax payers have been looted and economically gang raped by these cities, counties and the state.
California’s debt is nearly $428 billion at the time of this comment. California’s spending is more than $576 billion.
http://www.usdebtclock.org/state-debt-clocks/state-of-california-debt-clock.html
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