Reply #6: The writing has been on the wall in CA for a while now. [View All]

[girl gone mad]

I remember talking with a wealthy relative a couple of years ago about all of the jobs leaving the state because businesses couldn't attract young people since the housing prices were so high. He just didn't get it. As long as people believed they would get rich selling real estate, they could ignore those kinds of unintended consequences and prop up the economy with debt.

With gas prices as high as they are, your tourism industry is going to take a hit this summer. The film industry has been in a slump which could also get a lot worse as discretionary income shrinks and the internet keeps gaining popularity.

You guys don't deserve it, but you got screwed by the Wall Street banks like Enron screwed you with a manufactured energy crisis.