Posted on 07/15/2017 6:07:49 AM PDT by Mariner
Frustrated about unaffordable housing or clogged freeways? Think of it as the price you pay for living in one of the world’s largest economies.
California’s economy ranked sixth in the world in 2016, according to rankings released by Palo Alto economist Stephen Levy on Friday. That’s the same as the year before, when California overtook France and Brazil. But the state’s economy isn’t stagnating; California’s economy is growing so quickly that Levy thinks the state will overtake the United Kingdom this year for No. 5.
Levy, head of the Center for Continuing Study of the California Economy, said the rankings are evidence of the state’s vigor in the aftermath of the recession. As recently as 2010, the state had fallen to 10th in the rankings and some policymakers were wondering, “Are we losing our mojo?” Levy said.
More broadly, he said the rankings show the state is prospering despite a host of problems.
“It does say we’re doing well,” he said. “It does say that despite the housing, despite the transportation challenges and despite the air quality, we’re kicking (butt).”
Although there have been signs recently that the state’s growth rate is slowing, California’s unemployment rate fell to 4.7 percent in May, the lowest in nearly 17 years. The June figures will be released next week.
Levy calculated the numbers from World Bank estimates released earlier this month and the U.S. Bureau of Economic Analysis, which breaks down state-by-state economic output. The U.K.’s economy totaled $2.62 trillion, with California at $2.60 trillion.
(Excerpt) Read more at sacbee.com ...
But any talk of "cutting California off" over sanctuary status is a bit silly.
CA is a net contributor...by about 20%...to the Federal budget and the largest market for everything in the country.
Nearly all tech is here along with about 25% of the nations agriculture.
The socialist states seem to be growing economically faster than the reothers.
The socialist states seem to be growing economically faster than the others.
The article is pure propaganda.
CA is not in good shape and their economy is not as robust as stated.
I worked for a 100 year old company who bought a similar company in CA. Eventually, it brought the bankruptcy of both companies. The TX based company never had an unprofitable year, last year in business they made over 1 million bottom line. The CA company consistently lost more than the TX company made. BAMM! Both gone.
The Looney Left in CA is killing the state.
Let’s look at just one problem, of the many not mentioned, the welfare rolls. One-third of the people on welfare in the US live in California.
If California was a stand-alone country without an inflow is US tax dollars, picking up that expense alone would sink their economy.
Not enough? Where does California get its electricity? Cut off or put a tariff on electricity from other states, and where are they? I ask, because they are going to be hard to spot in the dark.
Not to fret. The lefties will fu*k it up in good order. They always do. But it’s important to me because of the ports.
You can’t always go by what those left wing idiots do. Remember when they fudged the books to the point that the governor was recalled and Arnold stepped in?
Your logic is faulty. The federal taxes and payroll taxes that Californians used to be paid to DC would now funnel to Sacramento. Not much change for the Californian taxpayer.
Unemployment in the "deplorable" Deer Hunter states: Pennsylvania 5.0%; Ohio 4.9%; West Virginia - 4.5%; Michigan 4.2%, Indiana 3.2%; Wisconsin, 3.1%. (Average 4.15%)
Yeah, California Boomin' -- considering their business environment, $15 minimum wage, spending and debt is Rosy Scenario on marijuana.
There is no economic reason why both the USA and California can't exist as independent countries. The issues preventing that are political and not economic.
#CALEXIT: how can I help make it happen!
Please. Spare me. The problem isn't the size of our economy. The problem is we vote greedy left-wing Libturds to manage it.
I drove through Sackatomatoes last week for the first time in years and I was appalled at the conditions the roads were in.
With the amount of money we pay in gas taxes, property taxes, lumber taxes and the thousands of other things we are taxed for, you'd think those roads would be paved with gold. Instead, it's like driving on a washboard while playing dodge-the-pothole.
Give me The State of Jefferson. Dammit.
You judge the relative health of two economies by the health of two companies?
That’s funny.
Tech and real estate keep CA in a bubble. Remember that both of those collapsed in the past. They still are billions short of funding their govt pension funds.
Right. It’s sometimes easy to overlook the sheer size of the state. California’s coastline is comparable to the length of the Eastern Seaboard from Portland, Maine to Norfolk, Virginia.
See how much agricultural they have when we cut off their water supply to make the Arizona desert bloom.
“If California was a stand-alone country without an inflow is US tax dollars, picking up that expense alone would sink their economy.”
So, you just invent stuff for fun?
CA pay 20% more in Federal taxes than it receives in Federal expenditures. And has for over 50 years. Every year.
As for power, CA is a net exporter.
Sounds like his job is to put out positive projections.
“Give me The State of Jefferson. Dammit. “
Amen, brother.
They ar ready to do statewide single payer. When they do, the cost will be three times the current total state budget. That’s growth alright.
Why would water be cut off? Terrorism? Please explain that scenario.
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