California's Boom Is Poised To Go Bust -- And Liberals' Dream Of Scandinavia On The Pacific | Newgeography.com
Silicone Valley has finally consolidated itself into middle age, and is slowly wheezing itself into a stasis peak. There is no growth in California without dynamic growth in Silicone Valley. Add to this the land use planning fiasco which has driven housing prices to the point barely more than 10% of the people can afford to buy, and, Sacremento, we have a problem!
The coastal areas are filled with the aging, wealthy tech, and business scions, while the interior valleys, and mountains are home to the destitute poor. This is Annie writ large, with the Daddy Warbucks' living in the coastal enclaves, while the Annie's and her ilk scratch out a poverty existence elsewhere.
Best of show: Paul Krugman, and Harold Meyerson among others all believe this is Utopia, the Skittles farting Unicorn of their dreams!
Alas, that is not to be so, like all addled utopian progressive fantasies, they are merely fantasies, not real. This bubble will pop. Millions will be left in a worse position. The real question is about the future. It is Detroit, or can progressives learn, and alter their trajectory before cratering?
Tick tock California, tick tock.