California To Sell Body For Money (U.S. As Crack Whore Understudy)

Posted by Equity Private, Oct 09, 2008, 1:15pm

Am I the only one alarmed by any article that uses California as a predictor for the economic future of any land mass on which I am presently standing? And if that was unnerving, probably more upsetting is the fact that their analogy really rings some bells. Ouch. The Wall Street Journal jars us into reality with this tantalizing possibility:

Here's the latest trend that started in California and is spreading to the rest of the country: recession.

It's all but certain the U.S. economy is in a recession, as falling home prices and Wall Street turmoil have put the brakes on consumer spending and stoked unemployment. But California got there first. Now, the state provides a template of how a broad U.S. downturn could look.

That's just terrific. I knew I hated California. I mean for a long time it was just this sort of general, ill-defined dislike. Like California was the irritating classmate you had who seemed to have the potential to be part of the clique, but never quite got over the hump of, say, using Oxy-10, on a regular basis. You know. Just a little, off.

But when my most horrible projections of fiscal responsibility abandoned, economic powerhouses squandered and bludgeoned into the bloody soil on the rugby field of the market, are reflected back in my face... horrible woes, indeed. Regulated unregulated power grids. Unfunded pension mandates. Police departments with no payroll. Cats and dogs, living together.

We're #1!

First Into Recession, California Shows Possible Future for U.S. [Wall Street Journal]

Mostly Unrelated: Oxy-10

0Recommend this! 29Comments

Tags: California, Recession

Comments

Comments hidden for your protection. Show them anyway!

Post Your Comment