A few decades ago the local chambers of commerce bragged about all of the businesses that were relocating into Southern California. People came from all over the United States to build something new here. People from all over the world came here to be a part of that diverse and creative place called California. Small towns were becoming vibrant cities in their own right with tall buildings just like Los Angeles. New housing communities sprang up everywhere, and in all directions, to provide home & communities for a burgeoning economy. There seemed to be endless opportunities which encouraged risk taking. Prosperity was contagious for a long time. The Greater Los Angeles area is such a large place with so many people that it fuels it own demand. But there comes a tipping point.
In a relatively brief period of time, California went to from the #1 public school system to the bottom of the 50 states. From having a solid tax base to having a skeletal tax base where smaller and smaller numbers of prosperous areas struggle to support increasingly poorer communities. Where 3.8 million people have pulled up stakes and left for other states. Many took their businesses too. Impeccable bond ratings (which enables the state to borrow money at premium interest rates) have fallen. The state of affairs within various governmental institutions is delusional. Really, this is not hyperbole. They cannot function as a logical group of citizens to gravitate towards common sense decisions. Not even in the face of bankruptcy. While such decisions are not emotionally easy ones, they are not as intellectually difficult as it seems. And therein lies part of the problem. They truly do not know what to do. It seems, though, that the rest of the population has figured out that things are not working. The people will most certainly be kind enough to let those self righteous pols know that the tipping point is at hand. To be continued... --BTB