Monday, June 22, 2009

 

Californian Nightmare

California’s grim fiscal situation is of course not news to anyone, and the media are now filled with reports about the state’s problems. But make no mistake about it — this is not a passing crisis. Take a look at California Collapsing for some hard data and facts that will make your hair stand on end. The sheer size of California’s collapsing economy means that it is turning into a black hole that threatens to drag the whole US economy into itself. Other states will find their abilities taxed just to avoid its event horizon. What’s more, the Los Angeles area is vulnerable to power outages (see the PDF report in the previous post).

Here is another situation that bears close monitoring. California’s collapse could easily have global impacts and repercussions. Get ready for the shock waves.



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