Crime California #1 Economy in US, & has 75 billion budget surplus

[58miles]

Congrats to the 12 people who can afford a home in California! #Winning

California has a serious affordable housing shortage that isn't going to be solved anytime soon and it's that shortage of affordable housing that is slowing California growth. Beautiful beaches, beautiful women and beautiful weather don't mean so much if you can't afford a decent roof over your head.

 

[DavidsGhost]

I feel like moving there now.

 

[Lord Coke]

This year Ive been to NYC, Baltimore, Seattle and I’ll be in LA in August. I go back to San Diego twice a year to see family. Big cities with large homeless populations tend to have these problems.

The rest of California is fine. People like @bobgeese like to make CA into just LA or SF.

I live in San Diego and I went last year to L.A. for the first time in years. I was shocked at how bad the homeless problem was. San Diego has normal levels of homeless for a large city or at least one with good weather. L.A. is on its own level. Whole city blocks with tent cities needles in on the ground. Its sad.

California is I agree a very diverse state. There is a lot of fertile farmland and wooded areas that people don't realize make up most of the state.

 

[Lord Coke]

California has a serious affordable housing shortage that isn't going to be solved anytime soon and it's that shortage of affordable housing that is slowing California growth. Beautiful beaches, beautiful women and beautiful weather don't mean so much if you can't afford a decent roof over your head.

You can buy a house in California you just need to move to Hemet. I.e. the part of California without the aforementioned.
That said there are lots of places in the Midwest that are better for women. Our women lack virtue and there are plenty of places with women just as beautiful. Denver has better women that tend to be more fit. Less yoga and strong and empowered stuff like cross fit and women's bjj. More girls that do hiking skiing and other natural activities. The women have this healthy glow to them that is different than the sort of artificial health you get from the gym.

 

[ocfightfan]

https://www.bloomberg.com/opinion/a...efies-doom-with-no-1-u-s-economy?srnd=premium

How do those socialist do it? I kept hearing how California was dying, but they increased their GDP, Increased household income, increased manufacturing, all the while supporting shit hole states.
From the article.
The most trusted measure of economic strength says California is the world-beater among democracies. The state’s gross domestic product increased 21% during the past five years, dwarfing No. 2 New York (14%) and No. 3 Texas (12%), according to data compiled by Bloomberg. The gains added $530 billion to the Golden State, 30% more than the increase for New York and Texas combined and equivalent to the entire economy of Sweden. Among the five largest economies, California outperforms the U.S., Japan and Germany with a growth rate exceeded only by China.

It's not because of socialism, but despite it. But by all means, feel free to explain the socialist mechanism by which California produces such wealth?

 

[nostradumbass]

Highest income inequality, most homeless, lowest literacy rate, and 36% living near or below poverty. I'm sure it's quite a consolation for all the average person wading through syringes to know that they have the privilege of living in the same state as Harvey Weinstein and Jack Dorsey.

 

[GoldenWolf87]

California is a huge state with huge accomplishments, it also has huge problems but it's not dying by any means.

Like higher taxes right? and banning gas and oil powered vehicles?

 

[Scheme]

The budget surplus is mainly because they underbudgeted due to COVID, not from an increase in production.

 

[maximus__]

California already had a multi billion dollar surplus before the bailout.

That's the issue... Why would you bail them out then?
They have already raised sufficient money and have a surplus during a period of economic down turn. Why throw more money at them ?

 

[deadshot138]

Place with rich celebrities has the most money

 

[Paradigm]

https://www.bloomberg.com/opinion/a...efies-doom-with-no-1-u-s-economy?srnd=premium

How do those socialist do it? I kept hearing how California was dying, but they increased their GDP, Increased household income, increased manufacturing, all the while supporting shit hole states.
From the article.
The most trusted measure of economic strength says California is the world-beater among democracies. The state’s gross domestic product increased 21% during the past five years, dwarfing No. 2 New York (14%) and No. 3 Texas (12%), according to data compiled by Bloomberg. The gains added $530 billion to the Golden State, 30% more than the increase for New York and Texas combined and equivalent to the entire economy of Sweden. Among the five largest economies, California outperforms the U.S., Japan and Germany with a growth rate exceeded only by China.

Quick...now factor in the pension shortfall...

"The California Pension system is way under water and in dire need of reform. The state’s unfunded pension and retirement liabilities approach $1 trillion, or roughly $80,000 for each taxpayer in the state. Given its aging workforce and increasing longevity, actuaries project this shortfall to increase in the next few years.

Left unchecked, the state’s budget obligations will soon force it to reduce services and raise taxes, as well as take extraordinary steps to stave off fiscal collapse.

However, there is no significant budgetary reform in the offing, and California’s cities and counties feel no compunction to address the issue. In fact, these days several municipalities are taking steps that will ultimately serve to exacerbate the shortfall by bringing in all of their emergency services “in house,” rather than contracting out emergency services to a private entity. "

https://www.forbes.com/sites/ikebra...-emergency-services-in-house/?sh=4ab7d7a63629

 

[Jack V Savage]

The budget surplus is mainly because they underbudgeted due to COVID, not from an increase in production.

No, revenue is way up. And as the article points out, state GDP growth from 2015-2019 blows every other state away. There's really no way to spin the numbers. State economy has been on a sustained boom for a long time. Only downside is that all that money is coming in but there's a housing shortage, which drives prices through the roof.

 

[maximus__]

Place with rich celebrities has the most money

 

[ShadowRun]

A short sited thread

 

[BJ@LW&WW]

Well the industry that has grown the most since the pandemic is the tech industry, which cali houses a lot of, and taxes quite heavily in some cases.

relative to prepandemic highs, tech and communications are up like 40% already, while the energy sector has basically just got back to prepandy status

 

[Scheme]

No, revenue is way up. And as the article points out, state GDP growth from 2015-2019 blows every other state away. There's really no way to spin the numbers. State economy has been on a sustained boom for a long time. Only downside is that all that money is coming in but there's a housing shortage, which drives prices through the roof.

You can see the budget numbers for yourself:
https://lao.ca.gov/Publications/Report/4263

They estimated that there would be a deficit of ~$60 billion because of estimated lack of revenue due to loss of COVID-19 jobs. Little did they know that most people who earned most of the money could easily work from home, and also the fed had a money printer to shoot at the stock market in times of trouble. Therefore they actually had a surplus, but mainly due to overestimating the loss of revenue from COVID-19, as well as overestimating the costs.

Also LAO has the estimated surplus at actually $38 billion, and is actually more accurate because the governor's number includes moneys that are constitutionally required spending.

 

[Loiosh]

most homeless

Because homeless people don't travel across the country to live in SLC.

They go where there's a ton of money and great weather all year.

 

[Snubnoze707]

None of this applies to quality of life. California is home to a bunch of rich Oligarchs, it's no wonder there is a lot of money in this state. Unfortunately that doesn't mean shit for the general population.

 

[Paradigm]

None of this applies to quality of life. California is home to a bunch of rich Oligarchs, it's no wonder there is a lot of money in this state. Unfortunately that doesn't mean shit for the general population.

Exactly...a couple making $200k a year ain't shit in LA.

 

[Lord Coke]

None of this applies to quality of life. California is home to a bunch of rich Oligarchs, it's no wonder there is a lot of money in this state. Unfortunately that doesn't mean shit for the general population.

Ultimately the question is what is the definition of a well room state. I don't think state GDP is the end all be all of a state's worth.
A state should be able to create a way of life where its citizens can grow up in it and have a good quality of life. As is California's is shipping out its middle class and its elites are okay with that because it has the money to ship in more people willing to work in a system where there is no advancement until they are not and then the cycle repeats again.