Even as the price of gold soars, the stock of the Golden State plummets. But, as the election returns of two weeks ago demonstrate, the majority of the people of California are still not serious, still not quite feeling the pain. The legalization of medical marijuana, perhaps?
Anyway, give it time. Absent a subsidizing sugar daddy, i.e., the rest of the country, liberalism invariably destroys everything it touches. And it's not only touching California, it's got it in a choke hold. The state's short-term problem is that it's just too big and the rest of the country is just too broke.
Long term? Well, the Great Reckoning continues. The bills keep coming due and they have to be paid. But California remains huge, resource rich, and almost idyllically beautiful. Check it out. Land there is getting cheaper every day.
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