Our Future Is California & Theirs is Detroit
Monty Pelerin / EconomicNoise.com
To understand the fate of the nation, one need only look at the trend-setter — California. Its madness is equivalent to Greece and will end the same way. Capital and talent are leaving the state in droves. The recent election will only accelerate its demise.
There is not enough money in the state to pay for its absurdities. The last election likely seals their fate. From the Canada Free Press comes this assessment:
“Crazifornia reveals a state that has become so misdirected, ungovernable and untenable that the primary driver of change has become the catastrophe.” Following the recent elections a recent Wall Street Journal editorial opined, “So now Californians will experience the joys of one-party, union-run progressive governance.”
Though it may defy belief, Californians voted to let the state tax them more to 13.3% and they gave Democrats a supermajority in both houses while killing a ballot initiative that would have barred unions from automatically withholding money from worker paychecks for political spending. The public service and other unions own California. Add that to a history of progressive politics and you have a recipe for the total disaster that confronts the state and the nation these days.
Now one only need sit back and watch the cities of California slowly morph into Detroit but with better climate.
There are two important points to take from the California debacle:
- California, like Greece, will be headed toward Washington for a massive bailout. That will influence other bankrupt states like Illinois to do the same.
- The recent election in the US, won by creating dependency and handouts, is the California strategy employed on a national scale. It will produce similar results.
As our economy and society has been Europeanized, our problems increasingly resemble theirs. Only the abandonment of such nonsense will avert a new Dark Ages.
http://www.economicnoise.com/2012/11/18/our-future-is-california-and-theirs-is-detroit/
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