California and Bust
The smart money says the U.S. economy will splinter, with some states thriving, some states not, and all eyes are on California as the nightmare scenario. After a hair-raising visit with former governor Arnold Schwarzenegger, who explains why the Golden State has cratered, Michael Lewis goes where the buck literally stops—the local level, where the likes of San Jose mayor Chuck Reed and Vallejo fire chief Paige Meyer are trying to avert even worse catastrophes and rethink what it means to be a society.
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Thanks for posting that, Woody. I just moved East from San Francisco, where tourist dollars help to mask many problems. But the pay & pensions of police and firefighters is a subject that comes up around election time, then fades. Nobody want to touch it and the public acts like they don’t really want to know. All the while the boat keeps filling with water…
Yes, thanks for posting it. I lived in California for many years. It’s a magnificent state, astounding resources, size and diversity. If it is running on all cylinders the economic strength of the state is massive. I wonder how much of that strength was/is “real” bricks and mortar activity.
I love the place, but have no intention of going back, because if it hits the fan California will be on the leading edge of pain. Like leverage- California can go either way good or bad, fast and with great vigor.
btw- Most LA people have celebrity stories. I saw former Governor Gray Davis getting take out in a West Hollywood Koo Koo Roo. People left him alone and the staff nonchalantly addressed him as Governor. It was all I could do to avoid asking him how he allowed himself to get punked by the Texans and blow a billion dollar surplus.