That sound you just heard was the State of California irretrievably flushing itself down the toilet.
This is financial news for several reasons, and it’s really the only financial story that matters today.
California’s most dire problems right now are related to public-employee obligations (pensions and healthcare). The power of public-employee unions in California have held the State and local governments in thrall for years, and with the election of Jerry Brown as Governor, the people of California have opted to spray kerosene on a blaze that was already threatening to overwhelm them.
Well, the die has been cast, California. You have placed your fate into the hands of a political party and a governmental machine that cares for nothing except what it can squeeze out of you to keep the party-train rolling. There will come a time in the not-too-distant future when you will have cause to bitterly regret what happened last night, and to wonder when the disaster truly became unavoidable. Well, now you know: it happened last night when you elected Jerry Brown as your governor. You chose to kowtow to the labor unions; you chose to believe comforting lies rather than the horrible truth.
You will reap the whirlwind.
my own two cents on this subject, I grew up in new york, unarguably a state that started the great slide into being a party controlled union driven public employee held “statist” state some time ago. the toilet started flushing for new york a long time before california.
what does that mean? it means for the average joe that decent paying jobs will become more scarce, even in good times for the rest of the country it will seem like you still are only scraping by, it mean that for good paying work you will see people start to consider taking tests for government jobs, the only sure way to be middle class. you will see a system set against the entrepreneurial spirit. the entrepreneurs will migrate out of the state and create jobs else where. and businesses will leave too, which has already started
I left new york about 18 years ago and have prospered on a level not posible in new york with jobs that payed double what was available in new york, and I have started a business which would have had the deck stacked against it in new york.
and I am not alone, most of my childhood friends have left new york for states out west or down south for better opportunity. they were able to stretch thier wings and really produce. most have done very well. contrasted with those we left behind in new york who still struggle.
so whats the jist of this? we are entering a time in america when thier will be two americas and the divide will be even more intractable. one californian said this of this election~~
“CA is the story. The sad story. We are now a lab where all the Dems’ worst policies of the past two years will incubate, hatch–and then devour our state. We will be one giant Detroit.”
the states like new york and california with huge government job rolls, huge government union control will want more and more money from the leaner meaner more prosperous states to subsidize thier leach like lifestyle, and we will not be inclined to be so gracious.
when the ants are storing for winter they are not going to be willing to share with the grasshoppers who squandered all summer.
more from jawa
“With the early returns and the overwhelming number of democrats who are coming out, we’re on pace to maintain the majority in the House of Representatives,” Pelosi said.
besides taking the house, some real scumbags were finally shown the door.
the turd alan grayson was flushed.
and so was Phil “fuck the constitution” Hare
along with the “who are you ?!” drunk Bob Etheridge
North American temperatures have fallen during the past five years.
So much for global warming.
Can continents opt out of global warming?
so, doesnt it seem suspicious that berry sowerto still wants to push carbon taxes even if it means using the epa in a way that circumvents congress and our laws to make it happen?