Wednesday, March 25, 2009

Hope amid California's slump

Dan Weintraub has a good piece in today's Sacramento Bee. His observation that job losses are about average in CA and have been worse in some other states is right. He is understating some issues unique to California, but I think that's ok. You only have 600 words in these columns.

The 1990s recession was pretty severe in California, and pretty mild around other areas. This recession is very serious everywhere, and will be more serious in CA than the 1990s. I've made these same points myself speaking to various groups, and although it's interesting, knowing that its even worse in Michigan and Florida doesn't do a whole lot to make people in CA feel better.

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