California will muddle through ... With the sixth largest economy in the world it wont go under and even the republicans would not let the state bring down the general US economy - which it could, if it completely failed, which it wont. ... And by all means DONT any of you non-californians come to california... Just keep thinking how terrible it is i.e anti-business, fires, earthquakes, etc ..... I will be thinking about you as I have a nice cool drink at sunset from the roof of my home overlooking the pacific ocean ...
Most of the wall street bulls are still sticking to the mantra that the govts tax cuts will help stimulate the economy. Sorry, but for Californians, they are meaningless. The few hundred in tax cuts recieved by each person will be spent on new DMV registration increases! The perma bulls are living in a fantasy world. California is a great place to live, its got alot of benefits, but the anti business climate is really gathering momentum. In another 20-30 years, if current immigration trends hold, the majority of the state will be hispanic/latino. If per capita GDP in mexico is say, $7,500-$10 k a year, and its $25 k or 30 k here, how is that gap going to close in a generation? The California economy will be dramatically effected.
An Arnold quote, from a fundraiser a couple of weeks back. "Whats the name of California's Govenor? I'm trying to recall him!