Saturday, July 11, 2009

Daily California Watch 3

Sunset in the Golden State. Impasse day 9.



NYTimes gets it wrong again.

Muni fallout.

Balanced? NFW.

Ideology trumps reality every time.

And for a bit of humor, this from the comments. Hat tip JP.

R.I.P. Califorina 1849-2009

14 comments:

Tyrone said...

I love the Daily California watch. I'm always the first to get my popcorn out!

averagerainfall said...

Casey Serin destroyed the entire state.

Curious said...

1849 Dawg, 1849.

Sheesh, you transplants.

Son of Brock Landers said...

As a member of the insurance sector with a knowledge of investment direction (forget all of the retirees I know who hold munis), removing the tax free status on muni bonds would be cataclysmic to the muni bond sector and the funding of normal govt actions.

The NY Times doesnt know how to cover this because Obama hasnt hinted if he's going to bail them out or not. Either way, what the admin chooses to do will get support from the NYT.

Lost Cause said...

I heard that there is talk of getting rid of the Hollywood sign. They already no longer illuminate it -- a constant reminder of the $18 billion Enron heist, and the Governator who let them get away with it.

sm_landlord said...

Did anyone else notice that the "Exodus a Myth" piece was written by one Thomas D. Bias? You can't make this stuff up.

An in case you didn't catch this one at the WSJ:

Why We'll Leave L.A.
The business climate is worse than the air quality.

Lost Cause said...

No more cashing IOUs at BofA etc. Must suck.

tj and the bear said...

Dawg,

It was easy enough to find historical revenue, expenditure & population figures for California, but I'm having a little more difficulty finding Cali-specific historical GDP. Ideas?

Rob Dawg said...

CIA Factbook?

This might help:
http://www.usgovernmentspending.com/California_state_spending.html#usgs302

And this works:
http://www.bea.gov/regional/gsp/

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
1,019,150 1,085,884 1,180,590 1,287,145 1,301,050 1,340,446 1,406,511 1,519,443 1,628,599 1,727,599 1,801,762 1,846,757

Captain Nemo said...

Trading IOUs?

Apparently, the state has decided that IOUs can't be bought and sold by just anybody. The IOUs have been deemed a security, so only licensed traders can buy and sell them.

I'm not quite sure who they think they are protecting? Reducing the pool of buyers isn't going to drive up the price of IOUs -- so the recipients are worse off. I'm sure they think that the are protecting people with this move, but it's hard to imagine what they think are protecting people from?

sm_landlord said...

"...but it's hard to imagine what they think are protecting people from?"

Why, the Evildoers, of course!

Mr. Outspoken said...

That piece about the California excess was F-U-N-N-Y. Sure most californians were moving out because their homes were extremely overpriced. But those overpriced homes were being repurchased by other hardworking Americans. Um, no... That is why the population is going down, and homes on the market and in foreclosure are going up. In a side-note the legislature decreed that the sky is no longer blue.

Pleather Murse said...

I don't think the Hollywood sign has been lit in many, many years. I think it had to do with the local residents complaining about the light at night and the excess tourist traffic that it created in the neighborhood around the sign. The last time it was lit was New Year's Eve 2000, in a less than spectacular display.

edgar said...

NY & CA will get more bailouts. Book it.