Why California's economy will bounce back and continue to lead. (unemployment rate, live)

[Think4Yourself]

Originally Posted by TrueDat

California, New York and, perhaps to a lesser extent, Texas, are big, dense, and diversified enough to have thriving tech, tourism, and financial sectors. Whereas states like Florida, Louisiana, and Nevada have had tourism as a central focus for so long that it's been harder for them to diversify and, when they do, sometimes it's too little, too late. I was living in South Florida in the 2000s when they came up with a campaign to sell the area as "The Digital Coast." Didn't quite rival Silicon Valley.

I guess my point is that I'm not sure it was the presence or absence of state taxes (Florida didn't have any) that would have made the difference there. It was a whole mindset that needed to change. So, if it really is starting to happen in Tampa, that's really very good for them.

Good points.

[Think4Yourself]

Originally Posted by oldtrader

We need to look at a few facts:

5 large size companies leave California every week for another state, which is one every weekday. Existing companies leaving the state, take away more jobs than the startups that may replace them bring to the table.

Net Results: California lost a net of 120,000 jobs last year, while in the same time period Texas increased by 130,000 jobs last year.

Result: California has the highest unemployment rate in the nation.

Your result is untrue because California does not have the highest unemployment rate in the nation. I also find your incited figures to be extremely suspect so how about a few citations from creditable sources so we can start getting down to the truth of the matter?

[blauskies]

Originally Posted by TrueDat

This map is focused on venture capital and start-ups so I wouldn't expect areas where so much of the economy traditionally has been dominated by tourism -- Nevada, Louisiana, Florida -- to do well in this regard, state tax or no state tax. Though there is apparently a move afoot to declare Tampa Bay as "the other Bay Area" in terms of start-ups The Other Bay Area: Why You Should Pay Attention To Tampa Bay's Growing Startup Scene | Techli

Still, there's no question that California will be the leader in this area for awhile.

I do not ever picture Tampa Bay or any other part of Florida to be "the other Bay Area", there is no Berkley or Stanford type universities nearby to support this idea. Even a no income tax state and lower cost of living, companies in general are not moving to Florida in droves due to the fact they have fears they can't staff the positions due to a lack of local talent.

[Think4Yourself]

Originally Posted by Don9

LOL ... don't get your hopes up ... everyone is leaving California!

I keep hearing you say that yet every year, without fail, the state's population keeps going up. Gee, if everyone were leaving, as you repeatedly claimed, then how, oh, how could that be?

BTW the only group which were leaving during recent years were young married couples with kids and that was almost entirely because they couldn't afford the cost of housing. So many people with money were willing to plunk down big dollar amounts for prime realestate that young people of modest income couldn't afford the price so they were forced to move to less desirable places where prices were lower because that was all they could afford. The recession has brought down prices so once we have a broad based recovery (instead of the shallow recovery only at the top which we're seeing now) I expect to see more young people staying rather than leaving because housing is now more affordable. The only other group leaving were retirees who were essentially cashing out their homes and trying to find some cheap place to spend the few years left to them before they die. Retirees aren't known for being especially economically productive nor are young lower class to lower middle class people so either way the claim that the best and brightest were some how fleeing just doesn't pass the reality test.

[EscapeCalifornia]

Originally Posted by Think4Yourself

I know AB 32 is the boogy man of the far right but all the independent analysis has said the costs are pretty much trivial and similar carbon trading systems haven't done much to harm the economies of other countries. That's just the facts, son. Please continue to claim the sky is falling though because it amuses me.

This is just the tip of the iceberg.

New carbon emissions rules could cost UC, CSU $28 million | million, state, cap - News - The Orange County Register

[TrueTimbers]

Why can`t the state use its forests, to offset for UC?

[blauskies]

Originally Posted by TrueDat

I was living in South Florida in the 2000s when they came up with a campaign to sell the area as "The Digital Coast." Didn't quite rival Silicon Valley.

I guess my point is that I'm not sure it was the presence or absence of state taxes (Florida didn't have any) that would have made the difference there. It was a whole mindset that needed to change. So, if it really is starting to happen in Tampa, that's really very good for them.

Anything Florida tries to sell is pure smoke and mirrors, Governor Zombie is already pleading to Congress to not cut the defense budget which will kill thousands of military hardware jobs in the state, that's the extent of high tech in Florida. South Florida, I am in Miami and leaving soon, moving to San Jose for work, was going to leave earlier, but I am working on a patent infringement case and promised my Boss I would finish supporting it before leaving. I figure I have one foot out the door of Florida, this area and the state will never be San Jose, weather, freaking tropical storm Issac is knocking my power out every 20 minutes, have to make sure my car did not wash away with all the rain we are getting. My only gripe is the rent I'm going to have to pay out there, which appears to be rising on a daily basis, was hoping to get in a little cheaper, looks like it will go up $200/month before I get out there lol.

[hoffdano]

Originally Posted by Think4Yourself

I keep hearing you say that yet every year, without fail, the state's population keeps going up. Gee, if everyone were leaving, as you repeatedly claimed, then how, oh, how could that be?

BTW the only group which were leaving during recent years were young married couples with kids and that was almost entirely because they couldn't afford the cost of housing. So many people with money were willing to plunk down big dollar amounts for prime realestate that young people of modest income couldn't afford the price so they were forced to move to less desirable places where prices were lower because that was all they could afford. The recession has brought down prices so once we have a broad based recovery (instead of the shallow recovery only at the top which we're seeing now) I expect to see more young people staying rather than leaving because housing is now more affordable. The only other group leaving were retirees who were essentially cashing out their homes and trying to find some cheap place to spend the few years left to them before they die. Retirees aren't known for being especially economically productive nor are young lower class to lower middle class people so either way the claim that the best and brightest were some how fleeing just doesn't pass the reality test.

California ranks 49th in net domestic migration. Since the 1990 census California's net domestic migration has been negative.

New Census Data Reaffirms Dominance of the South | Newgeography.com

Population in CA is growing, but not from Americans moving into the state. Growth is from immigration and births. Otherwise it is losing population. I don't think retirees are leaving though I don't have data to back it up. Retirees that own a home benefit the most from Prop 13. The income tax doesn't hurt them so there isn't much financial reason to leave the state.

[blauskies]

Originally Posted by Don9

LOL ... don't get your hopes up ... everyone is leaving California!

No joke, I heard it from many, one guy I met was a native LA resident, born and raised, lived there for 50+ years, left a couple of years ago. I'm guessing he was in his late 50's early 60's, told me I am nut's for even considering moving to California, said it would be the worst financial decision of your life lol. He went on and on about it, I respected his opinion, it's not just on this board I hear the people who left and tell me why.

[Vascodagama]

Originally Posted by Think4Yourself

I keep hearing you say that yet every year, without fail, the state's population keeps going up. Gee, if everyone were leaving, as you repeatedly claimed, then how, oh, how could that be?

Its called illegal immigration and people with no money in their pockets and hands out wanting a piece of the California tax payer pie.

Business is leaving in droves and the skilled workers are following ..

Originally Posted by Think4Yourself

BTW the only group which were leaving during recent years were young married couples with kids and that was almost entirely because they couldn't afford the cost of housing. So many people with money were willing to plunk down big dollar amounts for prime realestate that young people of modest income couldn't afford the price so they were forced to move to less desirable places where prices were lower because that was all they could afford. The recession has brought down prices so once we have a broad based recovery (instead of the shallow recovery only at the top which we're seeing now) I expect to see more young people staying rather than leaving because housing is now more affordable.

You can't be serious ... People in all flavors are leaving California. The recession has lowered the outrageous home prices but compared to other states they are still way over priced and so is the cost for property tax, insurance and utilities. Once good neighborhoods are quickly changing to drug and crime infiltration and illegal aliens everywhere and growing.

You mention a broad base recovery??? Are you insane? There is no absolutely recovery and the truth is the cities and counties are all going bankrupt. The economic plunge is just getting started after the state, counties and cities have been kicking the can down the road.

Originally Posted by Think4Yourself

The only other group leaving were retirees who were essentially cashing out their homes and trying to find some cheap place to spend the few years left to them before they die. Retirees aren't known for being especially economically productive nor are young lower class to lower middle class people so either way the claim that the best and brightest were some how fleeing just doesn't pass the reality test.

This last paragraph shows your complete disrespect for the retired and elderly. One day you or your parents will be elderly and you know what they say about karma ... I hope you get a big dose of your own medicine. This paragraph is totally disgusting ...