The only way to truly expereince what california offers is to live there--once you ve lived there everything else pales. The reason for progress is progressive thinking - India and china would still be the same if the thinking didnt change to improve and do what they r doing. There is a reason silicon valley exists in California - not in Canada, not in mexico, not in mid west with cheap land, not in the good ol' racist south. Its the thinking and dont forget midwest agri is all subsidised by silicon valley tax dollars.
In 1983 there were 13 billionaires. 26 years later in 2009 there were 793 billionaires. Billionaires are increasing, not decreasing.
Yes, but dollars are increasing in quantity as well, while the value of each dollar is decreasing. That's why USD is trading near 15 year lows against JPY and nearly at parity with AUD.
It's a good thing that these new startups don't need the dirty money from wall st. America is where it is at, because all it's corporations sold itself to wall st. and look at what happens, everything gets transferred outside the country all for GROWTH for the next QTR. Main St. and Wall St. should be parallel streets never intersecting, the second they meet.... shit happens (most of the time).
If California is such a damn hotspot of economic activity, how come they pay people in IOUs? You can dance around the numbers all you'd like, but income is a lot less than expenditures for this state and they have not been able to either cut spending or raise income. You could have every dime of VC money on the planet and a standard of living that makes Trump look like a chump but if outgoes are more than incomes and you can't fix it, then you are screwed. It's not rocket science. It's hardly even basic econ.
"It's not rocket science. It's hardly even basic econ." correct. but it takes some of us years to see and then more years to accept. in argentina the provinces paid in IOUs. the central government tried to bail out the provinces and the currency and the economy collapsed. as yogi berra said it is deja vu all over again.
If unfunded pension liabilities are 7% of California's GDP and the state of California collects taxes at around 14% of GDP, then half of all tax revenue will be needed to pay these liabilities. That's not good.