[only1percent]

S&P and Moody’s believe it — in their views, California post the tax increase is in better fiscal shape than it has been in many years.

In a perverse way, the tax increase was a huge success. When you have a desirable product, you are suppose to raise the price until you hit the point of declining returns. It turns out that the LA and Bay Area elite will pay a pretty darn high price for to live in California; it’s not like anyone successful in Silicon Valley, San Francisco, or the west side of LA is moving to Dallas or Miami anytime soon.

[hattend]

Well, who am I to argue with Moody’s and the S&P?

http://www.sacbee.com/2014/03/30/6279200/dan-walters-california-budget.html

http://www.forbes.com/sites/thomasdelbeccaro/2013/07/08/jerry-brown-stands-atop-californias-collapsing-house-of-cards/

Oh well. the Dow is over 17K as well, Obama’s economy is also just smoking along.