California -- America's first failed state?

Eh, that was like declaring Magic Johnson Day or whatever. Fairly meaningless and ceremonial. On the list of what ails California it wouldn't rank in the top 100, and it really isn't symbolic of much dysfunction either.

 

City Councils all over America pass similar useless resolutions every day.

 

People borrowing against their house was not just a California phenomen. It happened in all the real estate bubble markets (which was most of the country). I read that 80% of the mortgages given during that period were refi's. Wages were not increasing in the 2001-2007 era so people started to sue their cash as a checking account. I read somewhere that the best indicator the auto companies had of sales were mortgage refinancing. People would take money out of the house on a 30 year refinancing and buy a car.

When those actions caught up to California, and the rest of the country, there was a collapse.

 

What's with California wanting to require the porn industry to wear rubbers?

Sounds like a great way to get a cottage industry to move to Arizona.

 

Not California. Just Los Angeles city, and it was approved by the voters. Just means porn will be shot in places like Ventura and Pasadena and Long Beach and Santa Monica and West Hollywood and the huge parts of the county that aren't within city limits.

 

Actually, it was an LA County issue, I believe. I voted against it, and I am not part of LA City.

 

America's First Failed State? Hardly. I can name 11: Virginia, North Carolina, South Carolina, Georgia, Florida, Alabama, Mississippi, Louisiana, Tennessee, Arkansas and Texas. More than 150 years ago, they thought they were so awesome that they left the country to form their own union. They failed.
In 2012, there are still plenty of people who refuse to accept this.

 

With the passage of Prop 30, California's budget is balanced this year. Thank goodness. On the road to recovery. Funny how that happens when you increase revenues when you run a deficit.

 

You have more faith than I do, qt. I held my nose and voted for Prop 30, knowing it was necessary as a stopgap but we are hardly in the clear.

So now, what's the first order of business with that money we have from Prop 30 passing? Pay off Wall Street for the bad interest-rate swap gambles the UC Regents took!

http://www.sfgate.com/opinion/openforum/article/Prop-30-funds-for-UC-will-go-to-Wall-Street-4031472.php

 

Hey, we've got to start somewhere. Yes the first steps are to fix the crappy decisions that were made before but those decisions were made and we've got to pay up sometime.

 

This is going to be an interesting case study in economic geography. Seriously.

The reason the porn industry is headquarted in the San Fernando Valley is the availibility of a skilled temporary workforce. A producer of porn can easily find experienced directors, technicians, etc. who are between television series, comemrcials, etc. and are willing to pick up a few extra bucks working on his movie under an assummed name. Phoenix, for example, does not have this labor supply.

So does the industry flee due to the more onerous regulations or stay because of this availibility of skilled labor.