With the recent news of New York City running out of money and will be bankrupt soon, I argued who will be first! California or New York?
Also the recent revelation of California’s expensive train to nowhere project going belly-up and a mass exodus of businesses and residents leaving the state, one has to wonder what will be next for both states? I don’t see it ending well especially if one buys into the narrative that the US and the world for that matter is heading for a major recession.
I found this video which makes a compelling argument about the status of California.
Victor Davis Hanson, has been talking about California’s predicament for quite some time now.
A harbinger of things to come?