Time Magazine has a special issue about what went wrong in the once Golden State.Its gross product was larger than all but five countries; were California an independent nation, its per capita income would have been the world's highest. Yet, statistics aside, something was wrong.As the article points out, California is in deep trouble and like the rest of America it is doomed.
4 comments:
Gold doesn't tarnish; it just gets looted, fought over, and overvalued
They became the epicenter of the housing bubble and the mortgage fraud capital of the U.S., because law enforcement there decided that mortgage fraud was no longer a crime.
Maybe they can brush off the 2004 budget that was balanced and use it. Naah, that would be too easy, and would mean that some supporters lose some trough time. Better to take more from the "rich", after all, they can't possibly spend their own money correctly.
I'd just like to point out that the linked article is from 1977 and that the "modest" apartment of Governor Moonbeam now rents for $1895/mo and is 1600sft. It's a short walk across Capitol Park to the Capital Building.
I've been in that building and those apartments are gorgeous. Two flats per floor, good separation between floors (no bleed through noise from other levels) and the views are spectacular.
Every other building around it is a state office building so after 5pm weekdays and all weekend long it's absolutely quiet (except for the fountain in the plaza of the state office building next door).
Oh, the rent's gone down about $800/mo since 2006.
http://cadanet.org/rent_summary.php?id=463
http://www.bing.com/maps/#JnE9eXAuMTQwMCtOK3N0JTJjK3NhY3JhbWVudG8lMmMrY2ErJTdlc3N0LjAlN2VwZy4xJmJiPTUxLjk0NDI2NDg3OTAyODglN2UtOTYuMzI4MTI1JTdlMjIuMTA1OTk4Nzk5NzUwNiU3ZS0xNDYuNjg5NDUzMTI1
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